Profit and Loss Practice Test 1- Easy Questions & Detailed Solutions

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Get ready to boost your confidence with Profit and Loss Practice Test 1, designed to help you master key concepts easily. This profit and loss mock test includes clear and simple profit and Loss Practice Questions with solutions for better understanding.

Profit and Loss Practice Test 1

Instructions

Please read the following instructions carefully before attempting the quiz:

  • 📖 Read the Question carefully before answering the question.
  • ⏳ Try to manage your time effectively.
  • ✅ Each question has only one correct answer.
  • ❌ There is no negative marking (if applicable — adjust if you have).
  • 🔁 Do not refresh the page while attempting the test.
  • 📊 Your score will be displayed immediately after submission.
  • 📚 After completing this test, attempt the remaining practice sets for better improvement.

1 / 10

Q. Roman bought an article for Rs 5,840. He spent Rs. 360 on its shipping. He then sold it for Rs. 6,500, then find the approximate profit or loss % in this transaction

2 / 10

Q. Elon and Alex started work together with investment Rs. 2400 and Rs. 3200 respectively. After a year Mike also joined with investment of Rs. 3500. If in two years, they earned a profit of Rs. 5880, then find the profit share of Elon.

3 / 10

Q. Amit sells a Chair at 20% profit to Rahul. Rahul sells it to Sanjay at 30% profit. If Sanjay sells it to Dev at 50% profit and difference between Cost price of chair for Dev and Amit was Rs.2680. Then, how much Rahul pays to Amit for the chair?

4 / 10

Q. A, B and C started a business with capital Rs.12000, Rs.20000 and Rs.24000 respectively. After 4 months, B takes out Rs.4000 and C added Rs.6000 in his investment. Then, find the profit share of B, if the total profit is Rs.8600

5 / 10

Q. Anurag buys an old laptop for Rs. 17500 and spends Rs. 2,500 for its repair. He is not satisfied from his laptop and sells the laptop at Rs. 22,500. Find his profit percent?

6 / 10

Q. A invests some amount in a business. After 6 months his friend B joined him with the triple amount that A invests in starting of business. If in the business the total profit earned by both of them is Rs.16480, then find the difference between the share of profit between A and B

7 / 10

Q. Sameer invested Rs. 45000 in a scheme which is 12.5% more than amount invested by Abhishek. After 1 year, Sameer invested Rs. 5000 more while Abhishek withdraw half of his investment. If at the end of 2 years, total profit earned by them is Rs. 3,10,000, then find difference between their profit share.

8 / 10

Q. A shopkeeper is selling a fan at a discount of 30% on the mark price. If the marked price is 20% above the cost price and the fan was sold for Rs.420 then the cost price is

9 / 10

Q. Neeraj buy an article for Rs. 3,000. He sold it at profit 20% & get some money and from that money he again buys an article and got 25% loss. What was the profit & loss he got from the transaction?

10 / 10

Q. A man went to market and purchased a fan of Rs.2000 and sold it at the loss of 20% . From that amount, he purchased a Chair and sold it at a profit of 20%. What is the amount of overall profit/loss made by him in whole dealing?

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By practicing with Profit & Loss Practice Test 1, you can improve accuracy and speed step by step. Keep solving these profit & Loss Practice Questions with solutions to feel fully prepared for any profit and loss mock test.