Practice Test on Profit Loss and Discount

In math practice test on profit loss and discount we will see the questions are mainly based on multiple choice objective questions to test your own knowledge. The worksheet on practice test on profit loss and discount will help the students to practice more and get confident before the examination.

Tick ✔ the correct answer in each of the following:

1. Ryan buys a clock for $ 75 and sells it for $ 100. His gain percent is …………… . 

      (a) 25 % 
      (b) 33¹/₃ % 
      (c) 20 % 
      (d) 37¹/₂ % 

2. A bat is bought for $ 120 and sold for $ 105. The loss percent is ……………. .

      (a) 12¹/₂ % 
      (b) 14¹/₅ % 
      (c) 15 % 
      (d) 16²/₃ % 

3. A bookseller sold a book for $ 100 and thereby gains $ 20. Find his gain per cent.

      (a) 20 %
      (b) 25 %
      (c) 40 %
      (d) none of these


4. By selling a calculator for $ 418a shopkeeper 10%. The cost price of the calculator is …………… .

      (a) $ 360.000
      (b) $ 372.80
      (c) $ 376.20
      (d) $ 380.00


5. A shopkeeper sells one transistor for $ 840 at a gain of 20% and another for $ 960 at a loss of 4%. His total gain or loss percent is ……………… .

      (a) 5¹⁵/₁₇ % loss
      (b) 5¹⁵/₁₇ % gain
      (c) 6²/₃ % loss
      (d) 6²/₃ % gain

Practice Test on Profit Loss and Discount

6. The CP of 21 articles is equal to SP of 18 articles. Find the gain or loss percent. 

      (a) 12¹/₂ % gain 
      (b) 12¹/₂ % loss 
      (c) 16²/₃ % gain 
      (d) 16²/₃ % loss


7. If by selling 110 mangoes, the CP of 120 mangoes is realized, the gain percent is ……………. . 

      (a) 9¹/₁₁ % 
      (b) 9¹/₉% 
      (c) 10\(\frac{10}{11}\)% 

      (d) 11¹/₉ % 


8. A vendor loses the selling price of 4 oranges on selling 36 oranges. His loss per cent is ………….. . 

      (a) 10 % 
      (b) 11¹/₉ % 
      (c) 12¹/₂ % 
      (d) none of these 


9. A man bought apples at the rate of 8 for $ 34 and sold them at the rate of 1 2 for $ 57. How many apples should be sold to earn a net profit of $ 45? 

      (a) 90 
      (b) 100 
      (c) 135 
      (d) 150 

10. Some articles were bought at 6 for $ 5 arid sold at 5 for $ 6. The gain per cent is ………….. . 

      (a) 25 %
      (b) 33¹/₃ %
      (c) 35 %
      (d) 44 %


Practice Test on Profit Loss and Discount

11. By selling a chair for $ 504, a shopkeeper gains 12%. For how much should he sell it to gain 18%?

      (a) $ 522.10
      (b) $ 526.00
      (c) $ 531.00
      (d) $ 534.20


12. A shopkeeper sold two watches for $ 1485 each. On one he gains 10% and on the other he loses 10%. Find his gain or loss per cent in the whole transaction.

      (a) neither gain nor loss
      (b) 1 % gain
      (c) 1 % loss
      (d) 5 % gain


13. By selling a dinner set for $ 648, a man loses of his out lay. If it is sold for $ 810, what is the gain or loss percent?

      (a) 9 % gain
      (b) 11 % gain
      (c) 11¹/₉ % gain
      (d) 12²/₉ % gain


14. A tradesman sold an article at a loss of 20%. Had he sold it for $ 100 more, he should have gained 5%. The cost price of the article was …………… .

      (a) $ 360
      (b) $ 400
      (c) $ 425
      (d) $ 450


15. At what percentage above the cost price must an article be marked so as to gain 33% after allowing a customer a discount of 5%?

      (a) 35 %
      (b) 38 %
      (c) 40 %
      (d) 42 %


16. A manufacturer offers a 20% rebate on the marked price of a product. The retailer offers another 30% rebate on the reduced price. The two reductions are equivalent to a single reduction of …………. .

      (a) 42 %
      (b) 44 %
      (c) 46 %
      (d) 50 %


Answers for practice test on profit loss and discount are given below to check the exact answers of the questions from profit, loss and discount.

Answers:

1. (b)              9. (a)
2. (a)             10. (d)
3. (b)             11. (c)
4. (d)             12. (c)
5. (b)             13. (c)
6. (c)             14. (b)
7. (a)             15. (c)
8. (a)             16. (c) 

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