Online Profit and Loss Exercise with Correct Answer Key and Solutions
Useful for all Competitive Exams
You have already completed the quiz before. Hence you can not start it again.
Test is loading...
You must sign in or sign up to start the quiz.
You have to finish following quiz, to start this quiz:
0 of 21 questions answered correctly
Time has elapsed
You have reached 0 of 0 points, (0)
Question 1 of 21
Five kg of butter was bought by a shopkeeper for Rs 300. One kg becomes unsalable. He sells the remaining in such a way that on the whole he incurs a loss of 10%. At what price per kg was the butter sold?
Let S.P. = Rs x per kg
∴ S.P. of 4 kg = Rs 4x
Question 2 of 21
A trader wants 10% profit on the selling price of a product whereas his expenses amount to 15% on sales. What should be his rate of mark up on an article costing Rs 9?
Let the SP of the article be Rs x
Expenses = 15% of x = Rs 0.15x
Profit = 10% of x = Rs 0.10x
CP = Rs 9 (given)
Therefore, 9 + 0.15x + 0.1x = x
⇒ x = 12
∴ % increase for marked price
Question 3 of 21
If a merchant estimates his profit as 20% of the selling price, what is his real profit per cent?
Real profit % is the profit % on C.P.
Real profit %
Question 4 of 21
A man sells his car for Rs 5000 and loses something. Had he sold it for Rs 5600, his gain would have been double the former loss. Find the cost price.
Let his loss = Rs x. Then,
C.P. = 5000 + x = 5600 – 2x
⇒ 3x = 600 ⇒ x = 200
∴ C.P. =5000 + 200 = Rs 5200
Question 5 of 21
A manufacturer of a certain item can sell all he can produce at the selling price of Rs 60 each. It costs him Rs 40 in materials and labour to produce each item and he has overhead expenses of Rs 3,000 per week in order to operate that plant. The number of units he should produce and sell in order to make a profit of at least Rs 1,000 per week is
Let x be no. of units.
∴ Profit per unit x = (60 – 40) x = 20x.
Now, additional cost = 3000
∴ To make a profit of at least Rs 1000
we have, 20 x – 3000 = 1000
⇒ 20x = 4000
⇒ x = 200.
Question 6 of 21
A milkman buys milk contained in 10 vessels of equal size. If he sells his milk at Rs 5 a litre, he loses Rs 200; if he sells it at Rs 6 a litre, he would gain Rs 150 on the whole. Find the number of litres contained in each vessel.
Difference in rupees by increasing the price by rupees 1 is Rs 350.
That means that the quantity of milk is 350 litre.
Now, 10 equal containers will become 35 litre per container.
Question 7 of 21
A firm of readymade garments makes both men’s and women’s shirts. Its profit average is 6% of sales. Its profits in men’s shirts average 8% of sales and women’s shirts comprise 60% of output. The average profit per sales rupee in women’s shirts is :
Given total profit is 6%
As given the out put of women shirt is 60%
∴ Mens output would be 40%
∴ Ratio of the profit of the women’s shirt to men’s shirt = 3 : 2
∴ Contribution of men’s 2/5 whereas women’s 3/5
Let Average profit in women’s shirt be x.
Given, Average profit in Men’s shirt is 8%
⇒ x = 4.66
∴ Profit per sales of rupee is 0.0466
Question 8 of 21
The price of a jewel, passing through three hands, rises on the whole by 65%. If the first and the second sellers earned 20% and 25% profit respectively, find the percentage profit earned by the third seller.
Let the original price of the jewel be Rs P and let the profit earned by the third seller be x%.
Then, (100 + x)% of 125% of 120% of P = 165% of P
Question 9 of 21
A man sold his book for Rs 891, thereby gaining ¹⁄₁₀ of its cost price. Find his cost price.
Let C. P. = Rs x,
then profit = S.P. – C. P.
Question 10 of 21
A man sells an article at 5% profit. If he had bought it at 5% less and sold it for Re 1 less, he would have gained 10%. The cost price of the article is :
Let the CP of the article be Rs x. Then, SP
Now, new CP = Rs
and new SP =
According to the question,
∴ x = Rs 200
Question 11 of 21
A manufacturer sells goods to an agent at a profit of 20%. The agent’s wholesale price to a shopkeeper is at a profit of 10% and the shopkeeper retails his goods at a profit of 12%. Find the retailer’s price of an article which had cost the manufacturer Rs 25.
= 112 % of 110% of (120 % of 25)
Question 12 of 21
A business man sells lot of shirts at a profit of 12½% and invests the proceeds to buy lot of pants, which he sells at a profit of 20%. If he makes a net profit of Rs 2700, the cost of the shirts was
Let C.P. = Rs x
⇒ x = 2000
Question 13 of 21
A manufacturer sells a pair of glasses to a wholesale dealer at a profit of 18%. The wholesaler sells the same to a retailer at a profit of 20%. The retailer in turn sells them to a customer for Rs. 30.09, thereby earning a profit of 25%. The cost price of the manufacturer is
Let the C.P. for the manufacturer be Rs 100.
Then, C.P. for the wholesaler = Rs 118
C.P. for the retailer
= 118 + 20% of 118
= Rs 141.60
C.P. for the customer
= 141.60 + 141.60 ×
= Rs 177
∴ If the C.P. for the customer is Rs 177, then the C.P. for the manufacturer is Rs 100.
If the C.P. for the customer is Rs 30.09, then the C.P. for manufacturer is
= Rs 17
Question 14 of 21
A shopkeeper sells a pair of sunglasses at a profit of 25%. If he has bought it at 25% less and sold it for Rs 10 less, then he would have gained 40%. Determine the cost price of the pair of sunglasses.
Let the CP of the sunglasses be Rs 100.
Now, SP = Rs 125,
New CP = Rs 75,
New SP = 75 × 1.4 = Rs 105
Thus, if he sells for Rs (125 – 105) = 20 less, then CP = 100
If he sells for Rs 10 less, then
Question 15 of 21
If by selling twelve note-books, the seller earns profit equal to the selling price of two note-books, what is his percentage profit?
Question 16 of 21
A man sold 10 eggs for 5 rupees and gained 20%.How many eggs did he buy for 5 rupees?
S.P. for 1 egg = ⁵⁄₁₀ = Rs ½
∴ C. P. for 1 egg
⇒ He bought 12 eggs for 5 rupees.
Question 17 of 21
A person sells 36 oranges per rupee and suffers a loss of 4%. Find how many oranges per rupee to be sold to have a gain of 8%?
Let he sells x oranges per rupee.
He sells 32 oranges per rupee.
Question 18 of 21
Coconuts were purchased at Rs 150 per hundred and sold at Rs 2 per coconut. If 2000 coconuts were sold, what was the total profit made?
C.P. for one coconut
S.P. for one coconut = Rs 2
Profit on one coconut
∴ Profit on 2000 coconut
Question 19 of 21
If 15 oranges are bought for a rupee, how many must be sold for a rupee to gain 25%?
C.P. for one orange = Rs ¹⁄₁₅
Hence S.P. for one orange = Rs ¹⁄₁₂
∴ 12 oranges must be sold for a rupee to gain 25%.
Question 20 of 21
The cost price of 20 articles is equal to the selling price of 25 articles. The loss percent in the transaction is
Let C.P. of 1 article = Re 1,
then C.P. of 25 articles = Rs 25
and S.P. of 25 articles = Rs 20
∴ loss %
Question 21 of 21
By selling 66 metres of cloth a person gains the cost price of 22 metres. Find the gain per cent.
Let C.P. of one metre of cloth =Rs 1,
then C.P. of 66 metres of cloth = Rs 66
Gain = C.P. of 22 metres = Rs 22,
Shortcut method :
If on selling ‘x’ articles, a man gains equal to the C.P. of ‘y’ articles, then