Profit and loss

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Profit and Loss Questions:

1.A shopkeeper sells an item for Rs. 1500 and gains 20%. What was the cost price of the item?

a) Rs. 1200

b) Rs. 1250

c) Rs. 1000

d) Rs. 1100

Answer: b) Rs. 1250

2.A man sells an article at a loss of 10%. Had he sold it for Rs. 60 more, he would have gained 5%. What was the cost price of the article?

a) Rs. 500

b) Rs. 600

c) Rs. 700

d) Rs. 800

Answer: a) Rs. 500

3.A trader marked an article at Rs. 240 and sold it at Rs. 200. What was his loss percentage?

a) 16.6%

b) 20%

c) 25%

d) 30%

Answer: c) 25%

4.A fruit seller sells oranges at Rs. 5 each. He incurs a loss of 5% when he sells 20 oranges. How many oranges must he sell to make a profit of 5%?

a) 19

b) 20

c) 21

d) 22

Answer: d) 22

5.A trader bought an article for Rs. 400 and sold it for Rs. 480. What is the percentage profit?

a) 10%

b) 15%

c) 20%

d) 25%

Answer: c) 20%

6.A person buys 10 pens for Rs. 50 and sells 8 pens for Rs. 40. What is his profit percentage?

a) 20%

b) 25%

c) 30%

d) 35%

Answer: a) 20%

7.A shopkeeper sells a toy at a profit of 20%. If the cost price of the toy is Rs. 100, what is the selling price?

a) Rs. 120

b) Rs. 125

c) Rs. 140

d) Rs. 150

Answer: a) Rs. 120

8.A person sold two items for Rs. 400 each. He gained 20% on one item and lost 20% on the other. What is his overall profit or loss percentage?

a) 4%

b) 8%

c) 10%

d) 16%

Answer: a) 4%

9.A person bought a car for Rs. 2,50,000 and spent Rs. 20,000 on its repairs. He sold the car for Rs. 3,00,000. What is his percentage profit?

a) 10%

b) 15%

c) 20%

d) 25%

Answer: c) 20%

10.A shopkeeper buys an item for Rs. 500 and sells it at a profit of 25%. He then buys it back at a discount of 20% and sells it again at a profit of 40%. What is his overall profit or loss percentage?

a) 50%

b) 55%

c) 60%

d) 65%

Answer: b) 55%

11.A book is sold for Rs. 480 at a discount of 20%. What was the marked price of the book?

a) Rs. 550

b) Rs. 600

c) Rs. 640

d) Rs. 720

Answer: c) Rs. 640

12.A trader sells two articles for Rs. 800 each. He gains 20% on the first article and loses 20% on the second article. What is his overall profit or loss percentage?

a) 4%

b) 8%

c) 10%

d) 16%

Answer: d) 16%

13.A person sells an article at a loss of 10%. If he had sold it for Rs. 90 more, he would have gained 20%. What was the cost price of the article?

a) Rs. 400

b) Rs. 500

c) Rs. 600

d) Rs. 700

Answer: b) Rs. 500

14.A shopkeeper sells an article at a profit of 25%. If he had sold it for Rs. 120 less, he would have made a profit of 20%. What is the cost price of the article?

a) Rs. 400

b) Rs. 500

c) Rs. 600

d) Rs. 700

Answer: b) Rs. 500

15.A person sold an article for Rs. 660 and incurred a loss of 10%. What would have been his profit or loss percentage if he had sold it for Rs. 750?

a) 10% profit

b) 5% profit

c) 2.5% loss

d) 5% loss

Answer: b) 5% profit

16.A trader sells an article at a loss of 12.5%. If the selling price is increased by Rs. 80, he gains a profit of 2.5%. What is the cost price of the article?

a) Rs. 200

b) Rs. 240

c) Rs. 250

d) Rs. 300

Answer: b) Rs. 240

17.A person buys a bike for Rs. 50,000 and sells it for Rs. 45,000. What is his percentage loss?

a) 10%

b) 8%

c) 5%

d) 12%

Answer: a) 10%

18.A person sold an article for Rs. 720 and incurred a loss of 20%. What is the cost price of the article?

a) Rs. 800

b) Rs. 900

c) Rs. 960

d) Rs. 1200

Answer: c) Rs. 960

19.A trader sells an article at a profit of 25%. If the cost price of the article is increased by 20%, what should be the new selling price to earn the same profit percentage?

a) 125% of the original selling price

b) 120% of the original selling price

c) 110% of the original selling price

d) 105% of the original selling price

Answer: b) 120% of the original selling price

20.A person sells two articles for Rs. 900 each. He gains 20% on the first article and loses 20% on the second article. What is his overall profit or loss percentage?

a) 4% profit

b) 4% loss

c) 8% loss

d) No profit no loss

Answer: b) 4% loss

Conclusion:

In conclusion, profit and loss is an important topic in Indian Defence exams and requires a strong understanding of basic concepts and problem-solving skills. The questions provided above cover a range of difficulty levels, from basic to moderate, and will help you assess your knowledge and understanding of the topic.

To excel in the Indian Defence exams, it is essential to have a solid grasp of all the topics, including profit and loss. Practice regularly and focus on building your problem-solving skills to improve your chances of success in the exams.

We hope these questions and their solutions help you in your preparation for the Indian Defence exams. Best of luck!