Test 5- Profit and Loss Based Questions

This is a test on the topic “Profit and Loss” with 10 questions; make sure you time the test to complete within 15 minutes to know how you perform in actual examination like conditions. Once done, review the results and try the “unattempted” and “wrong” ones before referring to the solution given- this will help maximize your learning! All the best.

1. A man bought certain goods, 1/3 of which he sold at a profit of 21%, 3/5 of which he sold at a profit of 20% and the rest at a profit of 25%. What was his overall profit percentage?


2. A man buys mangoes at Rs. 200 per hundred. At what price would he sell a gross in order to make a profit of 20%, in spite of a 20% decay (here one gross = 12 dozens)?


3. A man buys 25 chairs for Rs.375 and sells them at a profit equal to the selling price of 5 chairs. What is the selling price of one chair?


4. Sam purchased 20 dozens of toys at the rate of Rs.375 per dozen. He sold each one of them at the rate of Rs. 33. What was his percentage profit?


5. A manufacturer undertakes to supply 2000 pieces of a particular component at Rs. 25 per piece. According to his estimates, even if 5% fail to pass the quality tests, then he will make a profit of 25%. However, as it turned out, 50% of the components were rejected. What is the loss to the manufacturer?


6. A sells an article which costs him Rs. 400 to B at a profit of 20%. B then sells it to C, making a profit of 10% on the price he paid to A. How much does C pay B?


7. A person bought 20 litres of milk at the rate of Rs. 8 per litre. He got it churned after spending Rs. 10 and 5kg of cream and 20 litres of toned milk were obtained. If he sold the cream at Rs. 30 per kg and toned milk at Rs. 4 per litre, what is his profit in the transaction?


8. Mr Absentmindz calculates his profit percentage as a percentage of selling price. He sells an item for Rs. 150 and calculates his profit percentage to be 20%. What is the true profit percentage?


9. By selling an article for Rs. 100, a man gains Rs. 15. Then, his gain% is:


10. If the selling price of 50 articles is equal to the cost price of 40 articles, then the loss or gain percent is:


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