Profit and Loss Mock Test

Posted on Updated on by TapasCategories:Mock Test/Quiz

Profit-loss is a very important section for competitive exams.

Here are some important rules and concepts related to Profit and Loss that you should know:

  1. Cost Price (CP): The price at which an article is purchased or acquired.
  2. Selling Price (SP): The price at which an article is sold.
  3. Profit (P): The positive difference between the Selling Price and the Cost Price.
    • Profit = SP – CP
  4. Loss (L): The negative difference between the Cost Price and the Selling Price.
    • Loss = CP – SP
  5. Profit Percentage (% P): The percentage of profit on the cost price.
    • Profit Percentage = (Profit / CP) * 100
  6. Loss Percentage (% L): The percentage of loss on the cost price.
    • Loss Percentage = (Loss / CP) * 100
  7. Marked Price (MP): The price marked on the article.
  8. Discount (D): The reduction from the marked price to the selling price.
    • Discount = MP – SP
  9. Discount Percentage (% D): The percentage of discount on the marked price.
    • Discount Percentage = (Discount / MP) * 100
  10. Selling Price after Discount (SP’): The actual selling price after deducting the discount.
    • SP’ = MP – Discount

Profit and Loss Mock Test

Profit and Loss Mock Test

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Profit and Loss Test 1

1 / 10

A merchant bought a shirt for ₹200 and sold it for ₹280. What is the profit percentage?

2 / 10

If an article is sold at a loss of 15% and the selling price is ₹170, what was the cost price?

3 / 10

A trader sold two items for ₹1200 each. He gained 25% on the first item and lost 20% on the second item. What is the overall profit or loss percentage?

4 / 10

A laptop is bought for ₹800 and sold at a gain of 15%. To make a profit of 25%, at what price should it have been sold?

5 / 10

A book is sold at a loss of 10%. If it was sold for ₹270, what was its cost price?

6 / 10

A retailer sells an item for ₹1800 at a loss of 20%. What was the cost price of the item?

7 / 10

A dealer offers a discount of 12.5% on the marked price of an item. If the selling price is ₹880, what was the marked price?

8 / 10

A watch is bought for ₹600 and sold at a loss of 10%. What is the selling price?

9 / 10

A shirt is sold for ₹750 at a profit of 25%. What is the cost price of the shirt?

10 / 10

A vendor sells two mobile phones at the same price. He sells one at a gain of 20% and the other at a loss of 20%. What is the overall profit or loss percentage?

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Profit and Loss Test 2

1 / 10

A shopkeeper marks the price of an item at ₹1200, but he offers a discount of 15%. What is the selling price?

2 / 10

A shopkeeper sells an item for ₹3600 at a profit of 20%. What was the cost price of the item?

3 / 10

A car was bought for ₹800,000 and sold at a loss of 15%. What is the selling price?

4 / 10

A dealer purchased a smartphone for ₹10,000 and sold it at a profit of 10%. What was the selling price?

5 / 10

A bookshop offers a discount of 20% on a book priced at ₹500. What is the selling price after the discount?

6 / 10

A trader bought 50 kg of rice for ₹2000 and sold it at a loss of 10%. What was the selling price per kg?

7 / 10

A mobile phone was sold for ₹4500, resulting in a loss of 25%. What was the cost price of the mobile phone?

8 / 10

A retailer sold an item at a profit of 18%. If the selling price was ₹1800, what was the cost price?

9 / 10

A bicycle was sold for ₹2400 at a loss of 20%. What was its cost price?

10 / 10

A retailer marked an item at a 25% higher price than its cost price. If the cost price is ₹800, what is the marked price?

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Profit and Loss Test 3

1 / 10

A trader bought a painting for ₹12000 and sold it for ₹15000. What is the profit percentage?

2 / 10

A shopkeeper sells 3 shirts at the cost price of 4 shirts. What is the profit percentage?

3 / 10

A mobile phone was sold for ₹2400 at a profit of 20%. What was its cost price?

4 / 10

A trader marks up the cost price of an item by 50% and then offers a discount of 20% on the marked price. If the selling price is ₹960, what was the cost price of the item?

5 / 10

An article was sold at a gain of 12%. If the selling price was ₹900, what was the cost price of the article?

6 / 10

A shopkeeper sells an item for ₹7500 at a loss of 25%. What should be the selling price to make a profit of 20%?

7 / 10

A retailer marks up an item by 30% and then offers a discount of 25% on the marked price. If the selling price is ₹840, what was the cost price of the item?

8 / 10

A bicycle is sold for ₹3960 at a gain of 10%. If the cost price of the bicycle was ₹3600, what was the selling price required to achieve a gain of 20%?

9 / 10

A trader sells an item for ₹5400, incurring a loss of 15%. What should be the selling price to earn a profit of 10%?

10 / 10

A trader sells two items, one at a gain of 40% and the other at a loss of 20%, both at the same selling price. If the overall profit/loss percentage is zero, what is the ratio of the cost prices of the two items?

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Profit and Loss Test 4

1 / 10

A trader buys a certain number of pens at ₹10 each and sells them at ₹12 each, incurring an overall loss of 10%. How many pens were bought?

2 / 10

A shopkeeper offers a discount of 15% on an item and still makes a profit of 20%. If the cost price of the item is ₹800, what is the selling price?

3 / 10

A trader sells an item for ₹1200, incurring a loss of 25%. To how much should the selling price be increased to gain 10% on the cost price?

4 / 10

A trader sells an item for ₹7200, making a profit of 20%. If the item had been sold for ₹7800, what would have been the profit percentage?

5 / 10

An electronic gadget is sold for ₹4500 with a loss of 12.5%. To earn a profit of 20%, what should be the selling price?

6 / 10

A trader marks up the cost price of an item by 75% and then offers a discount of 30% on the marked price. If the selling price is ₹825, what was the cost price of the item?

7 / 10

A merchant buys 80 kg of rice at ₹25 per kg. To make a profit of 20%, at what price per kg should he sell the rice?

8 / 10

An item was sold for ₹7500, resulting in a loss of 20%. To make a profit of 25%, what should have been the selling price?

9 / 10

A trader bought a shirt for ₹600 and marked it up by 40%. He then offered a discount of 20% on the marked price. What was the selling price of the shirt?

10 / 10

A car is bought for ₹800,000 and then sold for ₹880,000. If the expenses incurred in selling the car amount to ₹25,000, what is the net profit percentage?

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Profit and Loss Test 5

1 / 10

A trader sells an item for ₹1500, making a profit of 25%. If he had sold the same item for ₹1200, what would have been his profit percentage?

2 / 10

A trader marks up the cost price of an item by 50% and then offers two successive discounts of 10% and 15% on the marked price. If the selling price is ₹630, what was the cost price of the item?

3 / 10

A trader sells an item for ₹5760, making a profit of 20%. If he had sold the same item for ₹5400, what would have been his profit percentage?

4 / 10

A shopkeeper offers two successive discounts of 15% and 10% on an item. If the selling price is ₹1700 and the cost price is ₹2400, what was the marked price of the item?

5 / 10

A trader marks up the cost price of an item by 40% and then offers a discount of 20% on the marked price. If the selling price is ₹1200, what was the cost price of the item?

6 / 10

A trader sold an item for ₹8000, making a profit of 25%. If the selling price was increased by 20%, what would be the new profit percentage?

7 / 10

A trader bought 120 kg of wheat for ₹2400 and sold it at a loss of 20%. What was the selling price per kg?

8 / 10

A shopkeeper bought 100 articles for ₹1500 and sold them for ₹1800. What was his percentage profit?

9 / 10

A trader bought an item for ₹400 and sold it for ₹480. What was his percentage profit?

10 / 10

A trader sold a watch for ₹1800 at a loss of 10%. What was the cost price of the watch?

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