In any kind of business, knowledge of profit and loss is very important because without it no one can run the business. So in the present education system, it is an important topic of mathematics. The amount which we paid to purchase anything is known as its cost price and the amount at which the object is sold is called selling price. So take this quiz and check your knowledge about profit and loss.
1. Gain and loss are always calculated on the ....
A. Cost price
B. Selling price
C. Both of these
D. None of these
2. A fruit seller sells 10 apple fora rupee and gains 60%. How many apples did he buy for a rupee?
A. 14
B. 16
C. 15
D. 18
3. if the cost price of 5 mangoes is equal to the selling price of 4 mangoes, then what will be gain %?
A. 25
B. 35
C. 20
D. 15
4. A shopkeeper offers a 10% discount on price list and still makes a profit of 25%. What is the cost price of an article whose list price is 80?
A. 57.60
B. 60.40
C. 53.75
D. 35.67
5. If 11 pencils are bought for 10 and 10 pencils are sold for 11 then what is the gain %?
A. 18%
B. 16%
C. 21%
D. 10%
6. A man bought some eggs at 4 for 3 and sold them 5 for 4. In this transaction, he gained 16. How many eggs did he purchase?
A. 410
B. 300
C. 280
D. 320
7. The cost price of an article is 60% of the marked price. if 20% discount is offered at the marked price then what is the gain %?
A. 50/3%
B. 20/3%
C. 40%
D. 100/3%
8. A sofa set is sold for 632. The gain is equal to the loss when it sold for 544. What is the cost price of the sofa set?
A. 858
B. 588
C. 540
D. 637
9. A man sells his radio for 770 and gains 1/7 of the selling price. What is his gain %?
A. 50/3
B. 19/3
C. 20/3
D. 100/3
10. A television is sold at 20% gain. if it is sold at 20% loss then selling price is less 120. What is the cost price of the television?
A. 600
B. 220
C. 380
D. 300
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