Profit & Loss | Test 1

Number of Questions: 20 | Difficulty: Easy to Moderate

Q.1 An article is bought for Rs. 600 and sold for Rs. 750. What is the profit percentage?
(a) 20%
(b) 25%
(c) 30%
(d) None of these

Q.2 By selling a VCD player for 1950, I got a profit of 30%. At what price should I have sold it in order to get a profit of 40%?
(a) Rs. 2000
(b) Rs. 2100
(c) Rs. 2500
(d) None of these

Q.3 The profit obtained by selling a book for Rs. 56 is the same as the loss obtained by selling this book for Rs. 42. What is the cost price of the book?
(a) Rs. 40
(b) Rs. 50
(c) Rs. 49
(d) None of these

Q.4 A man bought a shirt at 3/4th of its list price and sold it at 50% above its list price. What is his percentage gain in the transaction?
(a) 50%
(b) 70%
(c) 80%
(d) 100%

Q.5 By selling a CD for rs150, a shop owner lost 1/16 of what it costs. What is the cost price of CD?
(a) Rs. 120
(b) Rs. 140
(c) Rs. 150
(d) Rs. 160

Q.6.Saurabh sold 250 cycles and had a gain equal to the selling price of 50 cycles. What is his profit percentage?
(a) 25%
(b) 20%
(c) 10%
(d) None of these

Q.7 If profit as a percentage of the selling price is 25%, then what is profit as a percentage of the cost price?
(a) 25%
(b) 331/3%
(c) 20%
(d) 15%

Q.8 A man sold an article at a profit of 10%. If he had charged Rs. 45 more his profit percentage would have been 25%. What is the cost price?
(a) Rs. 200
(b) Rs. 300
(c) Rs. 250
(d) None of these

Q.9. Richa purchased a pen drive at 4/5th of its list price and sold it at 20% above the original list price. What is Richa’s profit percentage?
(a) 25%
(b) 40%
(c) 50%
(d) None of these

Q.10 A man buys 200 oranges for Rs. 10. How many oranges a rupee can he sell so that his profit percentage is 25%?
(a) 10
(b) 14
(c) 16
(d) 20

Q.11 The CP of 24 apples is the same as the SP of 18 apples. Find the percentage gain.

(a) 121/2%
(b) 142/7%
(c) 162/3%
(d) 331/3%

Q.12 A manufacturer earns Rs. 20 on selling his product at 10% above his cost. What is the cost price?
(a) Rs. 125
(b) Rs. 150
(c) Rs. 200
(d) None of these

Q.13 By selling an article for Rs. 360, the loss incurred is 10%. At what minimum price should he sell that article to avoid loss?
(a) Rs. 320
(b) Rs. 324
(c) Rs. 396
(d) Rs. 400

Q.14 Nitika buys a kinetic for Rs. 16,000 and sells it for Rs. 18,500. If she wants to gain 40%, how much more should she charge for the kinetic?
(a) Rs. 3800
(b) Rs. 4000
(c) Rs. 4200
(d) None of these

Q.15 The owner of Book Point does not get either profit or loss by selling 15 books for Rs. 225. How many books should he sell for the same amount to gain 25% profit?
(a) 10
(b) 11
(c) 12
(d) 13

Q.16 A reduction 20% in the price of the rice enables to get 6 kg more of rice for Rs. 120. What is the initial price of rice(Rs./kg)?
(a) 4
(b) 5
(c) 6
(d) None of these

Q.17 CP of 12 apples is equal to the SP of 9 apples and the discount on 10 apples is equal to the profit on 5 apples. What is the percentage difference between the CP and SP of apples?
(a) 20%
(b) 25%
(c) 16.66%
(d) None of these

Q.18 A shopkeeper professes to sell his articles at CP but gives only 800 g at the place of 1000 g. What is his profit percentage?
(a) 20%
(b) 25%
(c) 16.66%
(d) 33.33%

Q.19 Cost price of 30 apples is same as selling price of 25 apples. What is the profit percentage or loss percentage?
(a) 20% loss
(b) 20% profit
(c) 25% loss
(d) 25% profit

Q.20 A shopkeeper professes to sell his articles at CP but gives only N g in the place of 1000 g. If his profit percentage is 100%, what is the value of N?

(a) 750
(b) 500
(c) O
(d) Not possible


Answer key

1.b | 2.b | 3.c | 4.d | 5.d | 6.a | 7.b | 8.b | 9.c | 10.c | 11.d | 12.c | 13.d | 14.d | 15.c | 16.b | 17.d | 18.b | 19.b | 20.b

Our CAT coaching Kolkata hopes that you found this test helpful. If you have more queries, drop us a mail at

Related Posts
Ask for Guidance

Want help with a specific topic or facing difficulties with your MBA prep? We are here to help. Just type in whatever you need guidance on and we will have our experts write a blog on it.

Subscribe with us
Call Now