Sample QuestionsProfit and Loss questions
One sample from each question group in this chapter. Select any group above to see the full set with answer keys.
Mark $(\checkmark)$ against the correct answer in the following: On selling a jug for $Rs. 144,$ a man loses $\frac{1}{2}$ of his outlay. If it is sold for $Rs. 189,$ what is the gain percent:
- ✓
$12.5\%$
- B
$25\%$
- C
$30\%$
- D
$50\%$
Answer: A.
View full solution →Mark $(\checkmark)$ against the correct answer in the following: A man buys a book for $Rs. 80$ and sells it for $Rs. 100.$ His gain per cent is:
- A
$20\%$
- ✓
$25\%$
- C
$120\%$
- D
$125\%$
Answer: B.
View full solution →Mark $(\checkmark)$ against the correct answer in the following: A vendor bought lemons at $6$ for a rupee and sold them at $4$ for ampee. His gain$\%$ is:
- ✓
$50\%$
- B
$40\%$
- C
$33\frac{1}{3}\%$
- D
$16\frac{1}{3}\%$
Answer: A.
View full solution →Mark $(\checkmark)$ against the correct answer in the following: On selling a stool for $Rs. 630,$ a man loses $10\%.$ The cost price of the chair is:
- A
$Rs. 567$
- B
$Rs. 693$
- ✓
$Rs. 700$
- D
$Rs. 730$
Answer: C.
View full solution →Mark $(\checkmark)$ against the correct answer in the following: On selling a pen for $Rs. 48,$ a shopkeeper loses $20\%.$ In order to gain $20\%$ what would be the selling price$?$
- A
$Rs. 52$
- B
$Rs. 56$
- C
$Rs. 68$
- ✓
$Rs. 72$
Answer: D.
View full solution →Assertion (A): By selling a chair for $₹ 450$, the trader loses $25 \%$. His loss was ₹ 150 .
Reason (R): In order to gain $20 \%$ on the same chair he should have sold it for ₹ 750 .
- A
Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A).
- B
Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A).
- ✓
Assertion (A) is true but Reason (R) is false.
- D
Assertion (A) is false but Reason (R) is true.
Answer: C.
View full solution →Assertion (A): A book was bought for ₹ 500 and sold for ₹ 600 . There was a gain of $20 \%$.
Reason (R): If the same book bought for ₹ 500 was sold for ₹ 400 then there was a loss of $20 \%$
- A
Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A).
- ✓
Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A).
- C
Assertion (A) is true but Reason (R) is false.
- D
Assertion (A) is false but Reason (R) is true.
Answer: B.
View full solution →Assertion (A): Gain is always reckoned on CP.
Reason (R): Loss is always reckoned on SP.
- A
Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A).
- B
Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A).
- ✓
Assertion (A) is true but Reason (R) is false.
- D
Assertion (A) is false but Reason (R) is true.
Answer: C.
View full solution →Assertion (A): If an article is sold at a lesser price compared to the purchase price then there is a loss.
Reason ( R ): Loss $= CP - SP$.
- ✓
Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A).
- B
Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A).
- C
Assertion (A) is true but Reason (R) is false.
- D
Assertion (A) is false but Reason (R) is true.
Answer: A.
View full solution →$\text{CP}=\frac{100\times\text{SP}}{(100-\text{Loss%})}$
View full solution →Loss is reckoned on selling price.
Gain is reckoned on cost price.
$\text{CP}=\frac{100\times\text{SP}}{( ......+\text{Gain%})}$
View full solution →$\frac{100}{(100+\text{Loss%})}\times\text{SP}=.........$
View full solution →Profit or loss is always reckoned on ______.
Write $‘T’$ for true and $‘F’$ for false. for the following:
Loss is reckoned on selling price.
View full solution →Fill in the blank: $\frac{100}{(100+\text{Loss%})}\times\text{SP}=.........$
View full solution → Fill in the blank:
$\text{CP}=\frac{100\times\text{SP}}{( ......+\text{Gain%})}$
View full solution →Write $‘T’$ for true and $‘F’$ for false. for the following: Loss $= (CP) - (SP).$
View full solution →Write $‘T’$ for true and $‘F’$ for false. for the following: Gain is reckoned on cost price.
View full solution →A man buys lemons at $6$ for $Rs. 10$ and sells at 8 for $Rs. 15$ Find his gain percent.
View full solution →Mr Mehta purchased a video for $Rs. 20000$ and a television for $Rs. 30000.$ On the video he lost $5\%$ and on the television he gained $8\%$. Find his total gain or loss percent.
View full solution →On selling a computer for $Rs. 24480,$ a dealer loses $4\%$. For how much should he sell it to gain $4\%?$
View full solution →On selling a calculator for $Rs. 1325$, a man gains $6\%$. For how much should he sell it to gain $12\%?$
View full solution →A tricycle is sold at a gain of $15\%$. Had it been sold for $Rs. 108$ more, the profit would have been $20\%$. Find its cost price.
View full solution →Sunder is a fruit seller. Today he bought plums to sell. He purchased them at the rate of 9 for 100 from the wholesale market.
Q.1. How many plums should he sell for ₹40 if he wishes to gain 20%?
(a) 3$\quad$ (b) 4$\quad$(c) 5$\quad$(d) 8
Q.2. He found that another fruit seller Kishan was selling plums at the rate of 6 for ₹90. Find the gain per cent of Kishan. (Assume that the wholesale rate is the same for all fruit sellers.
(a) 15%$\quad$(b) 20%$\quad$(c) 25%$\quad$(d) 35%
Q.3. Sunder decided to sell his plums at the rate of 7 for₹ 100. Find his gain per cent.
(a) $15 \frac{5}{9} \%$$\quad$(b) $17 \frac{7}{9} \%$$\quad$(c) $21 \frac{1}{9} \%$$\quad$(d) $22 \frac{2}{9} \%$
Q.4. In a box of 180 plums, he found that 28 were rotten and he had to throw them away. He sold the remaining plums at the rate of 8 for 100. Find his gain or loss per cent on this box.
(a) 2% gain$\quad$(b) 5% gain$\quad$(c) 2% loss$\quad$(d) 5% loss
View full solution →On selling a bat for $Rs. 486$ a man loses $10\%.$ Find the cost price of the bat.
View full solution →Find the $C.P.$ when: $S.P. = Rs. 1755,$ gain $=12\frac{1}{2}\%$
View full solution →Sudhir bought an almirah for $Rs. 13600$ and spent $Rs. 400$ on its transportation. He sold it for $Rs. 16800.$ Find his gain percent.
View full solution →If the selling price of $10$ pens is equal to the cost price of $14$ pens, find gain percent.
View full solution →Find the $SP$ when: $C.P. = Rs. 950,$ gain $= 6\%$
View full solution →