Introduction
Profit and Loss is an important aptitude topic used in business, commerce, and competitive examinations. These questions help develop calculation skills and understanding of buying and selling transactions.
Question 1
A shopkeeper buys a pen for ₹20 and sells it for ₹25.
What is the profit?
A) ₹3
B) ₹4
C) ₹5
D) ₹6
Answer
C) ₹5
Explanation
Profit = Selling Price − Cost Price
= ₹25 − ₹20
= ₹5
Question 2
A bicycle is purchased for ₹5000 and sold for ₹6000.
What is the profit percentage?
A) 10%
B) 15%
C) 20%
D) 25%
Answer
C) 20%
Explanation
Profit = ₹6000 − ₹5000
= ₹1000
Profit Percentage
= (1000 ÷ 5000) × 100
= 20%
Question 3
A book is bought for ₹200 and sold for ₹180.
What is the loss?
A) ₹10
B) ₹15
C) ₹20
D) ₹25
Answer
C) ₹20
Explanation
Loss = Cost Price − Selling Price
= ₹200 − ₹180
= ₹20
Question 4
A mobile phone is bought for ₹10000 and sold for ₹12000.
What is the profit percentage?
A) 15%
B) 20%
C) 25%
D) 30%
Answer
B) 20%
Explanation
Profit = ₹12000 − ₹10000
= ₹2000
Profit Percentage
= (2000 ÷ 10000) × 100
= 20%
Question 5
A shopkeeper purchases a bag for ₹800 and sells it for ₹720.
What is the loss percentage?
A) 8%
B) 9%
C) 10%
D) 12%
Answer
C) 10%
Explanation
Loss = ₹800 − ₹720
= ₹80
Loss Percentage
= (80 ÷ 800) × 100
= 10%
Key Learning
Important Formulas:
Profit = Selling Price − Cost Price
Loss = Cost Price − Selling Price
Profit % = (Profit ÷ Cost Price) × 100
Loss % = (Loss ÷ Cost Price) × 100
Practice Tip
Always calculate:
Cost Price (CP)
Selling Price (SP)
Difference between them
Then determine whether it is a profit or a loss before applying the percentage formula.
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