# Profit and Loss Test Paper 1

1) A shopkeeper sold an article for Rs. 2500. If the cost price of the article is 2000, find the profit percent.

1. 23%
2. 25%
3. 27%
4. 29%

C.P. = Rs. 2000

S.P. = Rs. 2500

Profit or Gain = S.P. -C.P.

= 2500 - 2000 = 500

Apply formula: Profit % =Profit ∗100
C.P.
=500 ∗100 =25 %
2000

2) A man purchases a TV for Rs. 8000 and sells it at 10% loss. What is the selling price of T.V?

1. Rs.7200
2. Rs.7000
3. Rs.6900
4. Rs.6500

C.P. of the TV = Rs. 8000

S.P. of the TV =?

Loss incurred = 10%

Apply formula: Selling Price = * C.P.

Therefore, S.P. = * 8000

= * 8000 = 7200

3) Ramesh bought a chair for Rs. 1540 and sold it to Suresh. If Ramesh earned a profit of 25%, find the selling price of chair.

1. Rs.1875
2. Rs.1900
3. Rs.1925
4. Rs.1950

C.P. of the chair = Rs. 1540

S.P. of the chair =?

Profit earned = 25%

Apply formula: Selling Price =(100+Profit%) ∗C.P.
100

Therefore, S.P. =(100+25) ∗1540
100
=125 ∗1540
100

=1925

4) A shopkeeper purchases a table and sells it for Rs. 4200. If he incurs a loss of 20%, find the cost price of table.

1. Rs.5250
2. Rs.5150
3. Rs.5052
4. Rs.5200

S.P. of the table = Rs. 4200

C.P. of the table =?

Loss incurred = 20%

Apply formula: Cost Price = ∗ S.P.

C.P. = ∗4200

=100 ∗4200
80

= 5250

5) Suresh bought a cell phone from a shop. If he sells it at Rs. 8400 to Mahesh and earns a profit of 12%, find the price at which Suresh bought the cell phone.

1. Rs.7100
2. Rs.7250
3. Rs.7350
4. Rs.7500

S.P of the cell phone = Rs. 8400

C.P. of the cell phone =?

Profit earned = 12 %

Apply formula: Cost Price = ∗S.P.

Therefore, C.P. = ∗8400

=100 ∗8400 = 7500
112

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Profit & Loss Concepts

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