Profit and Loss - Level 1 (Foundation)
- IIMwalaBanda
- Aug 1
- 3 min read
Updated: Aug 5
1. A shopkeeper buys an item for ₹450 and sells it for ₹540. Find the profit percentage. (F)
(a) 15%
(b) 18%
(c) 20%
(d) 25%
2. A man sells a table at a loss of 8%. If he had sold it for ₹120 more, he would have gained 4%. Find the cost price. (F)
(a) ₹800
(b) ₹900
(c) ₹1,000
(d) ₹1,200
3. By selling a pen for ₹90, a shopkeeper gains 20%. Find the cost price. (F)
(a) ₹70
(b) ₹72
(c) ₹75
(d) ₹80
4. A trader marks his goods 40% above cost price and allows a discount of 10%. Find his profit percentage. (F)
(a) 20%
(b) 24%
(c) 26%
(d) 30%
5. An article is sold at a profit of 25%. If it had been bought at 20% less and sold for ₹63 less, there would have been a profit of 30%. Find the original cost price. (F)
(a) ₹250
(b) ₹280
(c) ₹300
(d) ₹320
6. Find the single discount equivalent to two successive discounts of 20% and 10%. (F)
(a) 26%
(b) 28%
(c) 30%
(d) 32%
7. A dealer buys 20 chairs for ₹8,000 and sells them at ₹450 each. Find his overall profit or loss percentage. (F)
(a) 10%
(b) 12.5%
(c) 15%
(d) 18%
8. A shopkeeper allows a 15% discount on the marked price of ₹800. Find the selling price. (F)
(a) ₹650
(b) ₹680
(c) ₹700
(d) ₹720
9. If the cost price of 12 pens equals the selling price of 10 pens, find the profit percentage. (F)
(a) 16.67%
(b) 20%
(c) 22%
(d) 25%
10. A man buys an article for ₹600 and sells it at a loss of 12%. Find the selling price. (F)
(a) ₹500
(b) ₹520
(c) ₹528
(d) ₹540
11. A retailer buys a radio for ₹1,500 and sells it for ₹1,800. Find his gain percentage. (F)
(a) 15%
(b) 18%
(c) 20%
(d) 25%
12. Marked price of an article is ₹2,000. After a discount of 25%, find the selling price. (F)
(a) ₹1,400
(b) ₹1,450
(c) ₹1,500
(d) ₹1,600
13. A trader sold an article at a loss of 15%. Had he sold it for ₹300 more, he would have gained 5%. Find the cost price. (F)
(a) ₹1,200
(b) ₹1,350
(c) ₹1,500
(d) ₹1,600
14. A shopkeeper sells an article for ₹900, incurring a loss of 25%. Find the cost price. (F)
(a) ₹1,800
(b) ₹1,200
(c) ₹2,000
(d) ₹2,200
15. A shopkeeper sells an item for ₹680 at a profit of 25%. Find the cost price. (F)
(a) ₹500
(b) ₹520
(c) ₹544
(d) ₹560
16. Two successive discounts of 10% and 20% are given on a marked price of ₹5,000. Find the final selling price. (F)
(a) ₹3,400
(b) ₹3,500
(c) ₹3,600
(d) ₹3,700
17. A man buys a watch for ₹800 and sells it to a friend at a 5% loss. The friend sells it to another person at a gain of 10%. Find the final selling price. (F)
(a) ₹800
(b) ₹818
(c) ₹836
(d) ₹850
18. If selling an article for ₹450 gives the same profit as selling it for ₹350 gives loss, find the cost price. (F)
(a) ₹380
(b) ₹390
(c) ₹400
(d) ₹420
19. A man sells an article at a certain price. If he had sold it at two-thirds of that price, he would have incurred a loss of 10%. Find his actual profit percentage at the original selling price. (A)
(a) 25%
(b) 30%
(c) 35%
(d) 40%
20. A merchant marks up his goods by x% above cost price and then gives a discount of x% on the marked price, resulting in an overall loss of 4%. Find x. (A)
(a) 10
(b) 15
(c) 20
(d) 25
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