profit and loss | Multiple Choice Questions (MCQ) Choose Part Part A

Q1 - A fruit seller sells mangoes at the rate of Rs.9 per kg and thereby loss 10%. At what price per kg should he sell in order to earn a profit of 5%
A. Rs.10
B. Rs.10.5
C. Rs.9.5
D. Rs.11.11
Answer - B
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Q2 - A shopkeeper boys an induction cooker for Rs.2750 and sells it for Rs.2860. Find his profit percentage
A. 1%
B. 2%
C. 3%
D. 4%
Answer - D
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Q3 - A trader had 6 quintals of wheat. He sold a part of it at 7% profit and the rest at 17% profit, so that he made a total profit of 11%. How much wheat did he sell at 17% profit?
A. 360 kg
B. 240 kg
C. 120 kg
D. 480 kg
Answer - D
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Q4 - Rajeev sells a machine for Rs 55 lakhs at a loss. Had he sold it for Rs 67 lakh, his gain would have been 5 times the former loss. Find the cost price of the machine
A. Rs 65 lakhs
B. Rs 57 lakhs
C. Rs 78 lakhs
D. Rs 49 lakhs
Answer - B
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Q5 - If price of an article decreases from Rs 240 to Rs 220, when quantity demanded increases from 200 units to 210 units. Find point elasticity of demand?
A. 0.6
B. -1.8
C. -0.6
D. 1.8
Answer - C
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Q6 - Mohan buys an old scooter for Rs 5500 and spends Rs 1200 on its repairs. If he sells the scooter for Rs 5200. What will be his loss percent?
A. 22%
B. 20%
C. 25%
D. 18%
Answer - A
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Q7 - Mohan buys an old scooter for Rs 5500 and spends Rs 1200 on its repairs. If he sells the scooter for Rs 7200. What will be his gain percent?
A. 8%
B. 10%
C. 6%
D. 7.5%
Answer - D
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Q8 - A person incurs 8% loss selling a watch for Rs 1650. At what price should the water be sold to earn 10 % profit?
A. Rs. 1750
B. Rs. 1800
C. Rs. 1925
D. Rs. 1900
Answer - B
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Q9 - If a cycle is purchased for Rs 2500 and sold for Rs 2200. Find the loss percent?
A. 12%
B. 10%
C. 15%
D. 8%
Answer - A
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Q10 - A man buys a product for Rs 250 and sells it for Rs 300. Find his gain percent?
A. 10%
B. 20%
C. 15%
D. 5%
Answer - B
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