Introduction to the Basic Terms in Buying and Selling

Q.

Profit and loss is always reckoned on $\left(\_\_\_\right)$

Q. Amit bought an article for ₹ 200 and sold it for ₹ 350. The profit in the transaction is ₹ .

1. 50
2. 250
3. 550
4. 150

Q.

A shopkeeper purchased one dozen pens for $₹108$ and sold these at $₹12.50$each. Find:

1. cost of one pen.
2. profit or loss on selling pen.
3. his total profit or loss on selling all pens.

Q.

Statement1: Profit is defined as the positive difference between selling price and cost price (S.P > C.P).

Statement 2: Loss is found when (C.P > S.P)

1. Both the statements 1 & 2 are true

2. Only Statement 1 is true

3. Both the statements 1 & 2 are false

4. Only Statement 2 is true

Q. Sunil purchased two articles at the rate of ₹ 450 and ₹ 550.If he sold both the articles for ₹ 600 each. Find the net profit in the overall transaction.

1. ₹ 200
2. ₹ 300
3. ₹ 150
4. ₹ 250

Q.

Statement1: Profit is defined as the positive difference between selling price and cost price (S.P > C.P).

Statement 2: Loss is found when (C.P > S.P)

1. Both the statements 1 & 2 are true

2. Only Statement 1 is true

3. Both the statements 1 & 2 are false

4. Only Statement 2 is true

Q.

Ram sold a flower vase at 10% loss. The cost price of the vase was ₹ 120. Find the selling price of the flower vase.

1. ₹ 108​

2. ₹ 100​

3. ₹ 110

4. ₹ 105

Q.

What should be the selling price of an article that costs ₹20 in order to make a profit of ₹4?

1. ₹22

2. ₹24

3. ₹28

4. ₹16

Q.

What should the firms profit , when average variable cost is RS 20 per unit . AFC is Rs 10 , price of output is Rs 25 per unit and only 8 units of output are produced ,

Q. The cost of the product (in rupees) after adding 10% sales tax on ₹400 is .

1. 420
2. 440
3. 360
4. 520

Q.

The cost price of a pen is ₹12. But the shopkeeper sold it for ₹18. What is the percentage of profit obtained by the shopkeeper?

1. 25%

2. 50%

3. 75%

4. 65%

Q.

A man sells a toy at 10% profit. If the CP is ₹ 200, find the SP.

1. Rs. 220

2. Rs. 300

3. Rs. 180

4. Rs. 190

Q. Anil bought a watch for ₹ 4, 500 and sold it to his friend for ₹ 6, 000. Find his profit.

1. ₹ 1500
2. ₹ 1200
3. ₹ 1250
4. ₹ 2000

Q.

What is the profit percent if the cost price is ₹ 200 and the selling price is ₹ 350?

1. 25%

2. 50%

3. 75%

4. 100%

Q.

What is the profit percent acquired when the cost price is ₹200 and selling price is ₹350?

1. 25%

2. 50%

3. 75%

4. 100%

Q.

The cost price of a pen is ₹12. But the shopkeeper sold it for ₹18. What is the percentage of profit obtained by the shopkeeper?

1. 75%

2. 50%

3. 25%

4. 65%