This quiz works best with JavaScript enabled. Home > Unit V Mathematical Reasoning And Aptitude > Profit And Loss – Quiz 26 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Profit And Loss Quiz 26 (10 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Find the loss:Sam bought a car for S34000 and sold for S23000 A) S12000. B) S11000. C) S34000. D) No correct answer. Show Answer Correct Answer: B) S11000. 2. Loss on sale of assets will be shown in which side of profit and loss account? A) Debit. B) Credit. Show Answer Correct Answer: A) Debit. 3. A farmer sold 30 apples for $ 90. If he bought them for $ 60, what was his profit? A) $ 50. B) $ 30. C) $ 40. D) $ 20. Show Answer Correct Answer: B) $ 30. 4. A farmer buys 240 cows. He sells some of them at a gain of 20% and the remaining at a gain of 30%. If he gains 28% on the whole, then how many did he sell at a gain of 20%? A) 40. B) 48. C) 54. D) 28. Show Answer Correct Answer: B) 48. 5. Rena bought a vacuum cleaner for $ 12000. She sold it for $ 15000. Did she make a profit or loss and by how much? A) Loss of $ 1000. B) Profit of $ 2000. C) Loss of $ 3000. D) Profit of $ 3000. Show Answer Correct Answer: D) Profit of $ 3000. 6. A merchant has 1000 kg of sugar, part of which he sells at 8% profit and the rest at 18% profit. He gains 14% on the whole. The quantity sold at 18% profit is: A) 400 kg. B) 560 kg. C) 600 kg. D) 640 kg. Show Answer Correct Answer: C) 600 kg. 7. The term used to describe money gained after a sale. A) Cost price. B) Selling price. C) Profit. D) Loss. Show Answer Correct Answer: C) Profit. 8. What is formulae to calculate profit percentage? A) Profit% = $\frac{profit}{C.P.}\times100%$. B) Profit% = $\frac{C.P}{profit}\times100%$. C) Profit% = $\frac{profit}{S.P.}\times100%$. D) $\Pr ofit%=\frac{profit}{C.P.}$. Show Answer Correct Answer: A) Profit% = $\frac{profit}{C.P.}\times100%$. 9. Goods bought for $ 800 had to be sold off at a loss of 8%. The selling price was A) $ 864. B) $ 808. C) $ 736. D) $ 792. Show Answer Correct Answer: C) $ 736. 10. A shopkeeper marked the price of a new item as ' 1280. If he gets a profit of 20% even after giving a discount of 10%, then find the cost price of the item. A) '1120. B) '960. C) '1000. D) '940. Show Answer Correct Answer: B) '960. ← PreviousNext →Related QuizzesProfit And Loss Quiz 1Profit And Loss Quiz 2Profit And Loss Quiz 3Profit And Loss Quiz 4Profit And Loss Quiz 5Profit And Loss Quiz 6Profit And Loss Quiz 7Profit And Loss Quiz 8Profit And Loss Quiz 9Profit And Loss Quiz 10 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books