Profit and Loss Question Sheet 3
- Jul 14
- 6 min read
Table Of Content
Practice Question
Answer Key
Q.1 Ram sells onions in the streets of Chandni Chowk. Due to recent shortfall in the supply of onions, he doubles his selling price despite the cost price remains same for him due to a fixed price contract. He realizes that his profit have tripled. Find the original profit percent.
a.200/3%
b.100%
c.120%
d.Cannot be determined
Q.2 .A shop, which sold same marked price shirts, announced an offer - if one buys three shirts then the fourth shirt is sold at a discounted price of ₹100 only. Patel took the offer. He left the shop with 20 shirts after paying ₹20,000. What is the marked price of a shirt?
a.Rs.1260
b.Rs.1300
c.Rs.1350
d.Rs.1400
Q.3 A shopkeeper sells two watches for Rs.5000. The cost price of 1st watch is equal to the selling price of 2nd watch. If the first watch is sold at a loss of 33.33% and the second watch is sold at the gain of 60%. Find the overall profit or loss.
a.Rs.150
b.Rs.125
c.Rs.200
d.Rs.185
Q.4 A trader sells vegetables at a profit of 20%. Further, he uses a false weight and weighs only 800 gm instead of 1000 gm. What is his overall profit percentage?
a.20%
b.25%
c.50%
d.75%
Q.5 A dealer marks his goods at 40% above the cost price. He sells 60% of the goods giving 10% discount at the marked price and the rest by giving 50% discount on the marked price. What is his overall profit/ loss percent?
a.Loss 2.8%
b.Profit 2.8%
c.Profit 3.6%
d.Loss 3.6%
Q.6 Reshma buys two articles A and B for Rs.1734 . She sells A at a loss of 16% and sells B at a gain of 20%. The selling price of both the articles is the same. If A is sold for Rs. 1147.50, then the gain percent on A is:
a.12.5
b.12
c.10.5
d.10
Q.7 A sold an item to B at 20% gain, B sold it to C at 8% gain. C sold it to D at 25% loss. If the difference between the profits of A and B is Rs. 260, then D bought it for:
a.Rs.2,268
b.Rs.2,430
c.Rs.2,200
d.Rs.2,480
Q.8 A shopkeeper normally makes a profit of 20%. In a certain transaction, he weighed 900 gm instead of 1 kg without his knowledge due to an error in the weighing scale. If he charges 20% less than what he normally charges, what is his actual profit or loss percentage?
a.20/3% profit
b.20/3% loss
c.10% loss
d.10% profit
Q.9 I bought a book for Rs.60. then I sold it off to a friend for Rs.70. But after a while I felt sorry that I sold it and bought it back for Rs.80. How much loss did I incur?
a.20
b.10
c.0
d.Cannot be determined
Q.10 A shopkeeper pays 12% of the cost price as tax while purchasing an item whose cost is ₹500. He wants to earn a profit of 20% after giving a discount of 16% on the marked price. So, the marked price should be:
a.Rs.800
b.Rs.780
c.Rs.960
d.Rs.840
Q.11 A trader cheats both his supplier and his customer by using faulty weights. When he buys from the supplier, he takes 10% more than the indicated weight. When he sells to his customer, he gives 10% less than the indicated weight. If he sells at his 'cost-price' ( i.e. , charges the cost price of the indicated weight), what is his profit percentage?
a.20%
b.10%
c.(100/9)%
d.(200/9)%
Q.12 A trader cheats both his supplier and his customer by using false weights. While buying from his suppliers, he takes 10% more than the indicated weight. When he sells to his customer, he gives the customer a weight such that if 10% of that is added to the weight, the weight claimed by the trader is obtained. If he charges the cost price of the weight that he claims, find his profit percentage .
a.20%
b.21%
c.(64/3)%
d.(200/9)%
Q.13 Mathhew sold a watch to Joanne at Rs.20 profit. After a couple of days, Joanne sold the same watch back to Matthew at Rs.20 profit. How much did Mathhew gain/lose in the process?
25
a.Profit of Rs. 15
b.Loss of Rs. 20
c.Profit of Rs. 10
d.Loss of Rs. 25
Q.14 A shopkeeper normally makes a profit of 20%. In a certain transaction, he weighed 900 gm instead of 1 kg without his knowledge due to an error in the weighing scale. If he charges 20% less than what he normally charges, what is his actual profit or loss percentage?
a.6.66 % Profit
b.6.66 % Loss
c.10% Loss
d.10% Profit
Q.15 Ramesh purchased two articles for a total sum of Rs.10500. He sold one article at a profit of 30% and other one at a loss of 30%. In the process, he gains Rs.600. Find the selling price of the article which he purchased at a higher price?
a.Rs. 4250
b.Rs. 6250
c.Rs. 5525
d.Rs. 8125
Q.16 A dealer makes a profit of 20% on selling an article. If the cost price is increased by 10% and the selling price is increased by 15%, the profit is Rs.560. What is the initial cost price of the article?
a.Rs.2100
b.Rs.2000
c.Rs.1800
d.Rs.1600
e.Rs.1400
Q.17 Anil bought two articles A and B at a total cost of Rs.10,000. He sold the article A at 15% profit and the article B at 10% loss. In the whole deal, he made no profit or no loss. Find the selling price of the article
a.Rs. 4,600
b.Rs. 5,400
c.Rs. 4,200
d.Rs. 4,500
Q.18 A shopkeeper sold 40% of his goods at 60% profit and the rest at 40% loss. On the whole he must have incurred?
a.Loss
b.Profit
c.No Loss No Profit
d.Cannot be determined
Q.19 A man sells an article at a profit of 20%. If he had bought it at 20% less and sold for Rs.5 less he would have gained 25%. Find the cost price of the article.
a.Rs.20
b.Rs.25
c.Rs.30
d.Rs.40
e.Rs.50
Q.20 A person purchased 40 items at some price. He sold some items at profit 30% by selling them at a price equal to the cost price of 26 items. The remaining items are sold at 18% profit. The total profit percentage is:
a.27%
b.28%
c.24%
d.25%
Q.21 A shopkeeper professes to sell at the cost price. But by mistake, he used a false weight of 1100 gm instead of one kg. What is his % loss?
a.9.09%
b.10%
c.11.11%
d.12.5%
e.None of these
Q.22 Myntra is offering 2 shirts free on every 3 bought of the brand “COLOR PLUS’ while Amazon is offering a flat discount of 40% on every shirt purchased of the same brand. Which shop offers a better deal to the customer?
a.Myntra
c.Both are same
d.Cannot be determined
Q.23 A company undertakes to supply 4000 pieces of a particular equipment at Rs.50 per piece. According to its estimates, even if 10% fail to pass the quality test, still it will make a gain of 25%. However, later it is found that 50% of the equipment have been rejected completely. What is the loss to the company?
a.Rs.36000
b.Rs.44000
c.Rs.40000
d.Rs.27000
Q.24 A reduction of 20% in the price of sugar enables a man to purchase 4 kg more on a total amount of Rs.280. What is the original price?
a.Rs.15 per kg
b.Rs.14 per kg
c.Rs.17.5 per kg
d.Rs.16 per kg
Q.25 An article was marked at Rs. x and sold at discount of (x – 40)%. If the customer paid Rs. (x – 32), then find the marked price of the article.
a.Rs. 60
b.Rs. 50
c.Rs. 75
d.Rs. 80
Answers For Profit and Loss Questions for CAT
1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 |
B | B | B | C | C | A | B | A | B | A |
11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 |
D | D | B | A | B | B | A | C | B | C |
21 | 22 | 23 | 24 | 25 | |||||
A | C | B | C | D |
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