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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%

The Correct answer is (B)

Answer with explanation:

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

The Correct answer is (A)

Answer with explanation:

C.P. of the TV = Rs. 8000

S.P. of the TV =?

Loss incurred = 10%

Apply formula: Selling Price =Apti Profit and loss* C.P.

Therefore, S.P. =Apti Profit and loss* 8000

= Apti Profit and loss* 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

The Correct answer is (C)

Answer with explanation:

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

The Correct answer is (A)

Answer with explanation:

S.P. of the table = Rs. 4200

C.P. of the table =?

Loss incurred = 20%

Apply formula: Cost Price =Apti Profit and loss 6∗ S.P.

C.P. =Apti Profit and loss 7∗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

The Correct answer is (D)

Answer with explanation:

S.P of the cell phone = Rs. 8400

C.P. of the cell phone =?

Profit earned = 12 %

Apply formula: Cost Price =Apti Profit and loss 8∗S.P.

Therefore, C.P. =Apti Profit and loss 9∗8400

       =100 ∗8400 = 7500
         112


Aptitude Profit & Loss Test Paper 2
Aptitude Profit & Loss Test Paper 3
Aptitude Profit & Loss Test Paper 4
Aptitude Profit & Loss Test Paper 5
Profit & Loss Concepts




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