TISSNET Profit and Loss questions with a PDF by Cracku. Practice TISSNET solved Current Affairs Questions paper tests, and these are the practice question to have a firm grasp on the Profit and Loss topic in the TISSNET exam. Very Important Profit and Loss Questions for TISSNET based on the questions asked in the previous TISSNET exam papers. Click on the link below to download the TISSNET Profit and Loss Questions with answers PDF.<\/p>\n
Download Profit and Loss Questions for TISSNET<\/a><\/p>\n Get 5 TISSNET 2023 Mocks At just Rs. 299 <\/a><\/p>\n Question 1:\u00a0<\/b>An article was sold at a certain price. Had it been sold at $\\frac{4}{5}$ of that price, there would have been a loss of 10%. At what profit percentage was the article sold initially?<\/p>\n a)\u00a010.5<\/p>\n b)\u00a015<\/p>\n c)\u00a012.5<\/p>\n d)\u00a010<\/p>\n 1)\u00a0Answer\u00a0(C)<\/strong><\/p>\n Solution:<\/b><\/p>\n Let the cost price of article be rs.100 and Profit be x%.<\/p>\n Initially selling price =\u00a0100 + 100 \\times \\frac{x}{100} = 100 + x<\/p>\n loss = 10%<\/p>\n Final SP = $(100 + x) \\times \\frac{4}{5} = \\frac{4(100 + x)}{5}$<\/p>\n 100 $\\times \\frac{90}{100} =\u00a0\\frac{4(100 + x)}{5}$<\/p>\n 90 = $\\frac{400 + 4x}{5}$<\/p>\n x = 50\/4 = 12.5%<\/p>\n Question 2:\u00a0<\/b>A dealer allows 25% discount on the marked price of an article and gains 20%. If the cost price of the article increases by 20%, how much discount percentage should he allow on the marked price so as to earn the same percentage of profit as before?<\/p>\n a)\u00a012%<\/p>\n b)\u00a08.5%<\/p>\n c)\u00a010%<\/p>\n d)\u00a07.25%<\/p>\n 2)\u00a0Answer\u00a0(C)<\/strong><\/p>\n Solution:<\/b><\/p>\n Let the initial cost price of the article be Rs.100.<\/p>\n profit\u00a0 = 20%<\/p>\n Selling price = 100$ \\times \\frac{120}{100}$ = 120<\/p>\n Discount = 25%<\/p>\n 75% of MRP = 120<\/p>\n MRP = 120$ \\times \\frac{100}{75}$ = 160<\/p>\n Final cost price = 100\u00a0$\\times \\frac{120}{100}$ = 120<\/p>\n profit = 20%<\/p>\n Selling price = 120 $\\times \\frac{120}{100}$ = 144<\/p>\n Discount = 160 -144 = 16<\/p>\n Discount% = 16 $\\times \\frac{100}{160} = 10%$<\/p>\n Question 3:\u00a0<\/b>The marked price of an article is \u20b9250. After allowing two successive discounts of 20% and x% on the marked price, it is sold for \u20b9185.60. What is the value of x?<\/p>\n a)\u00a08.4%<\/p>\n b)\u00a07.2%<\/p>\n c)\u00a06.8%<\/p>\n d)\u00a07.6%<\/p>\n 3)\u00a0Answer\u00a0(B)<\/strong><\/p>\n Solution:<\/b><\/p>\n Discount = marked price – selling price = 250 – 185.60 = 64.4<\/p>\n Discount = 250 $\\times \\frac{20}{100} \\times \\frac{x}{100}$<\/p>\n 64.4 = 50\u00a0$\\times \\frac{x}{100}$<\/p>\n Selling price = marked price $\\times \\frac{100 – discount}{100}$<\/p>\n 185.6 = 250\u00a0$\\times \\frac{100 – 20}{100}\u00a0\\times \\frac{100 – x}{100}$<\/p>\n 185.6 = 250 $\\times \\frac{80}{100} \\times \\frac{100 – x}{100}$<\/p>\n 18560 = 25$ \\times 8 \\times (100 – x)$<\/p>\n x = 100 – 92.8 = 7.2%<\/p>\n Question 4:\u00a0<\/b>The marked price of a washing machine is \u20b97,200.if it sold for \u20b95,512.50 after two successive discounts of x % each . The value of x is<\/p>\n a)\u00a012<\/p>\n b)\u00a012.5<\/p>\n c)\u00a010.5<\/p>\n d)\u00a015<\/p>\n 4)\u00a0Answer\u00a0(B)<\/strong><\/p>\n Solution:<\/b><\/p>\n As per the given condition in the question,<\/p>\n The marked price of washing machine =7200Rs.<\/p>\n Sold price of washing machine =5512.5Rs<\/p>\n Discount =x%<\/p>\n So, $\\dfrac{7200\\times (100-x)(100-x)}{100\\times 100}=5512.50$<\/p>\n $\\Rightarrow \\dfrac{72\\times (100-x)^2}{100}=5512.5$<\/p>\n $\\Rightarrow (100-x)^2=\\dfrac{5512.5\\times 100}{72}$<\/p>\n $\\Rightarrow (100-x)^2=7656.25$<\/p>\n $\\Rightarrow 100-x=87.5$<\/p>\n $\\Rightarrow x=100-87.5=12.5\\%$<\/p>\n Question 5:\u00a0<\/b>A person bought an article at 30% discount on its marked price. The person then sold it at 30% profit for \u20b9427.70. What was the marked price of the article?<\/p>\n a)\u00a0\u20b9470<\/p>\n b)\u00a0\u20b9450<\/p>\n c)\u00a0\u20b9500<\/p>\n d)\u00a0\u20b9480<\/p>\n 5)\u00a0Answer\u00a0(A)<\/strong><\/p>\n Solution:<\/b><\/p>\n Given,\u00a0 %profit = 30%, S.P. =427.70 rs, discount% = 30%<\/p>\n Let\u00a0 \u00a0 \u00a0C.P. of article is x rs.<\/p>\n profit$=30$% of c.p.<\/p>\n profit$=\\dfrac{30x}{100}$<\/p>\n profit$=\\dfrac{30x}{100}$<\/p>\n profit$=\\dfrac{3x}{10}$<\/p>\n profit$=S.P.-C.P.$<\/p>\n $\\dfrac{3x}{10}=427.70-x$<\/p>\n $\\dfrac{3x}{10}+x=427.70$<\/p>\n $\\dfrac{13x}{10}=427.70$<\/p>\n $13x=4277$<\/p>\n $x=\\dfrac{4277}{13}$<\/p>\n $x=329$rs.<\/p>\n C.P.= MP-discount<\/p>\n CP=70%OF MP<\/p>\n $329=\\dfrac{70MP}{100}$<\/p>\n MP$=\\dfrac{329\\times100}{70}$<\/p>\n MP=470 rs.<\/p>\n Question 6:\u00a0<\/b>On selling an article for \u20b9115, the gain is 20% more than the loss incurred on selling it for \u20b9104. If the article is sold for\u00a0\u20b9130.80, then the profit percentage is:<\/p>\n a)\u00a025<\/p>\n b)\u00a018<\/p>\n c)\u00a030<\/p>\n d)\u00a020<\/p>\n 6)\u00a0Answer\u00a0(D)<\/strong><\/p>\n Solution:<\/b><\/p>\n The selling price of article = Rs 115<\/p>\n If selling price would be = Rs 104<\/p>\n then gain = 20 % max<\/p>\n let the Cost price of article Rs $x$<\/p>\n $\\Rightarrow\\dfrac{115-x}{1} = \\dfrac{120}{100} \\times \\dfrac {x-104}{1} $<\/p>\n $\\Rightarrow\\dfrac{115-x}{1} = \\dfrac{6}{5}\\times \\dfrac{x-104}{1}$<\/p>\n $\\Rightarrow (115-x) \\times 5 = 6\\times (x-104)$<\/p>\n $\\Rightarrow 575-5x = 6x-624 $<\/p>\n $\\Rightarrow 11x =1119 $<\/p>\n $\\Rightarrow x = 109 $<\/p>\n If selling price would be = 130.80<\/p>\n profit = 130.80-109 = 21.80<\/p>\n then profit % = $\\dfrac{21.80} {109} \\times 100 $<\/p>\n = 20 % Ans<\/p>\n Question 7:\u00a0<\/b>A shopkeeper has announced 40% rebate on the price of TV sets at the time of sale. If a purchaser needs to have a rebate of \u20b926,400, then how many TV sets each costing \u20b96,000 should he purchase?<\/p>\n a)\u00a09<\/p>\n b)\u00a011<\/p>\n c)\u00a08<\/p>\n d)\u00a012<\/p>\n 7)\u00a0Answer\u00a0(B)<\/strong><\/p>\n Solution:<\/b><\/p>\n M.P. of 1 TV= 6000rs<\/p>\n rebate on 1 TV= 40%of 6000=2400rs<\/p>\n let he purchases x no of tv’s<\/p>\n rebate on x tv’s=26400<\/p>\n $x\\times2400=26400$<\/p>\n $x=\\dfrac{26400}{2400}$<\/p>\n $x=11$<\/p>\n Question 8:\u00a0<\/b>There is a 15% discounton 8 shirts marked at \u20b99,600. How many shirts can be bought with \u20b95,100?<\/p>\n a)\u00a04<\/p>\n b)\u00a05<\/p>\n c)\u00a03<\/p>\n d)\u00a06<\/p>\n 8)\u00a0Answer\u00a0(B)<\/strong><\/p>\n Solution:<\/b><\/p>\n The selling price of 8 shirts = $ 9600 ( 1- \\dfrac{15}{100}) Rs$<\/p>\n $\\Rightarrow 9600\\times \\dfrac{85}{100} =8160 Rs$<\/p>\n $\\Rightarrow 8160 Rs = 8 shirts$<\/p>\n then 5100 Rs = $ \\dfrac{8 \\times 5100}{8160} = 5\u00a0\u00a0 shirts Ans $.<\/p>\n Question 9:\u00a0<\/b>Mangoes are boughtat a rate of \u20b910,000 perton. If one-third of the total mangoes are sold at a loss of 4%, then at what price (per ton) should the remaining mangoes be soldso as to gain 30% on the whole transaction?<\/p>\n a)\u00a0\u20b915,000<\/p>\n b)\u00a0\u20b913,500<\/p>\n c)\u00a0\u20b914,700<\/p>\n d)\u00a0\u20b914,600<\/p>\n 9)\u00a0Answer\u00a0(C)<\/strong><\/p>\n Solution:<\/b><\/p>\n Let, the rest mangoes should be sold at $x$<\/p>\n so In case of first = $\\dfrac{1}{3}rd$<\/p>\n selling price = $\\dfrac {1}{3}\\times 10000 \\times\\dfrac {96}{100}$<\/p>\n $\\Rightarrow \\dfrac{9600}{3} $<\/p>\n $\\Rightarrow 3200 $<\/p>\n total profit on whole transaction = 30 %<\/p>\n so total selling price = $10000\\times \\dfrac{130}{100} $<\/p>\n $\\Rightarrow 10000\\times \\dfrac{130}{100}$<\/p>\n $\\Rightarrow 13000 Ans $<\/p>\n In case of rest $\\dfrac{2}{3}rd$\u00a0 selling price = 13000-3200 = 9800<\/p>\n hence\u00a0 $\\dfrac{2}{3}x = 9800 $<\/p>\n $\\Rightarrow x = 9800 \\times \\dfrac{3}{2}$<\/p>\n $\\Rightarrow x = 14700 Ans $<\/p>\n Question 10:\u00a0<\/b>The profit on selling an article for \u20b91,100 is equal to three times the amount of loss on selling it for \u20b9700. To gain 12.5%, the article must be sold for:<\/p>\n a)\u00a0\u20b9787.50<\/p>\n b)\u00a0\u20b9877.50<\/p>\n c)\u00a0\u20b9956<\/p>\n d)\u00a0\u20b9900<\/p>\n 10)\u00a0Answer\u00a0(D)<\/strong><\/p>\n Solution:<\/b><\/p>\n Suppose\u00a0 cost price (cp) = $x$<\/p>\n then according to question $1100 -x =3 (x-700)$<\/p>\n $\\Rightarrow 1100 – x = 3x-2100$<\/p>\n $\\Rightarrow 4x = 3200 $<\/p>\n $\\Rightarrow x = 800 $<\/p>\n so gain 12.5% profit<\/p>\n profit = $\\dfrac {12.5}{100}\\times 800 $<\/p>\n $\\Rightarrow 100 $<\/p>\n so article must sold = 800 + 100 = 900 Ans<\/p>\n Question 11:\u00a0<\/b>If a discount of 10% is allowed on the marked price of an article, a shopkeeper gets a profit of 25%. If he offers a discount of 25% on the marked price of the same article, then his percentage profit\/loss will be:<\/p>\n a)\u00a0$4\\frac{1}{6}\\%$ profit<\/p>\n b)\u00a0$4\\%$ loss<\/p>\n c)\u00a0$4\\frac{1}{6}\\%$ loss<\/p>\n d)\u00a0$4\\%$ profit<\/p>\n 11)\u00a0Answer\u00a0(A)<\/strong><\/p>\n Solution:<\/b><\/p>\n Let the Market price of the article Rs 100<\/p>\n Discount = 10%<\/p>\n % Selling price = 90 % of Rs 100<\/p>\n $\\Rightarrow \\dfrac{90}{100} \\times 100 $<\/p>\n $\\Rightarrow 90 $<\/p>\n profit = 25%<\/p>\n so cost price = $ 90 \\times \\dfrac{100} {125} $<\/p>\n $\\Rightarrow Rs 72 $<\/p>\n Now, if the discount is 25% then<\/p>\n selling price = $ \\dfrac{75}{100} \\times 100 $<\/p>\n $\\Rightarrow 75 $<\/p>\n Required profit % = $\\dfrac {75-72} {72 }\\times 100$<\/p>\n $\\Rightarrow \\dfrac{3}{72} \\times 100 $<\/p>\n $\\Rightarrow \\dfrac{25}{6} $<\/p>\n $\\Rightarrow 4 \\dfrac{1}{6} $ % Ans<\/p>\n Question 12:\u00a0<\/b>The marked priceofan article is \u20b9800. A retailer buys it for \u20b9540 after getting two successive discounts. The first discount is 25%. What is the second discount?<\/p>\n a)\u00a015%<\/p>\n b)\u00a012%<\/p>\n c)\u00a010%<\/p>\n d)\u00a08%<\/p>\n 12)\u00a0Answer\u00a0(C)<\/strong><\/p>\n Solution:<\/b><\/p>\n Price after the first discount = $ 800 – \\dfrac{25}{100}\\times 800 $<\/p>\n $\\Rightarrow\u00a0 Rs 600 $<\/p>\n Let secound discount\u00a0 = $x$<\/p>\n then\u00a0 \u00a0\u00a0$ 600 – \\dfrac{x}{100}\\times 600 = 540 $ (according to question)<\/p>\n $\\Rightarrow \\dfrac{100-x}{100} = \\dfrac{540}{600}$<\/p>\n $\\Rightarrow 100 – x = 90 $<\/p>\n $\\Rightarrow x = 10$ % Ans<\/p>\n Question 13:\u00a0<\/b>After allowing 10% discount on the marked price of an article, a person makes a profit of 16%. If the cost price of the article is \u20b9648, then its marked price is:<\/p>\n a)\u00a0\u20b9826.80<\/p>\n b)\u00a0\u20b9835.20<\/p>\n c)\u00a0\u20b9751.68<\/p>\n d)\u00a0\u20b9910.40<\/p>\n 13)\u00a0Answer\u00a0(B)<\/strong><\/p>\n Solution:<\/b><\/p>\n Let the market price = Rs $x$<\/p>\n given that discount = 10\u00a0%<\/p>\n so selling price = Rs $(x – \\dfrac{10}{100} of x)$<\/p>\n $\\Rightarrow Rs \\dfrac{90x}{100} $<\/p>\n again given that profit = 16% and cost price = Rs 648<\/p>\n so selling price = $Rs (648 + \\dfrac{16}{100} of 648 ) $<\/p>\n $\\Rightarrow Rs \\dfrac{116}{100}\\times 648 $<\/p>\n By the problem$ \\dfrac{116}{100} 648 = \\dfrac{90x}{100}$<\/p>\n $\\Rightarrow x = \\dfrac{116\\times 648}{90} $<\/p>\n $\\Rightarrow x = Rs 835.2 $Ans<\/p>\n Question 14:\u00a0<\/b>The marked price of an article is \u20b9530. After two successive discounts,it is sold for \u20b9396.44. If the first discount is 15%, and the second discount is x%, then what is the value of x?<\/p>\n a)\u00a010.5<\/p>\n b)\u00a010<\/p>\n c)\u00a012.5<\/p>\n d)\u00a012<\/p>\n 14)\u00a0Answer\u00a0(D)<\/strong><\/p>\n Solution:<\/b><\/p>\n Given that market price = Rs 530<\/p>\n After 15% discount = $530 – 530\\times \\dfrac {15}{100}$<\/p>\n $\\Rightarrow Rs 405.5$<\/p>\n After second discount price = 396.44<\/p>\n so second discount = 450.5 – 396.44 =Rs 54.06<\/p>\n so $\\dfrac{450.5\\times x} {100} = 54.06 $<\/p>\n $Rightarrow \\dfrac {540}{450.5}\u00a0 \u00a0$<\/p>\n $\\Rightarrow 12$% Ans<\/p>\n Question 15:\u00a0<\/b>By selling an article for \u20b91,134, Anu suffers as much loss as she would have gained by selling it at 10% profit. If she\u00a0sells it for \u20b91,354.50, then her profit percentage is<\/p>\n a)\u00a09<\/p>\n b)\u00a08<\/p>\n c)\u00a08.4<\/p>\n d)\u00a07.5<\/p>\n 15)\u00a0Answer\u00a0(D)<\/strong><\/p>\n Solution:<\/b><\/p>\n Let the cost price = $x$<\/p>\n So as per question $x – 1134 = \\dfrac{10}{100}x $<\/p>\n $\\Rightarrow 0.9 x = 1134 $<\/p>\n $\\Rightarrow x = 1260 $<\/p>\n Now selling it Rs 1354.5<\/p>\n then % gain = $\\Rightarrow {1354.5-1260}{1260} \\times 100 $<\/p>\n $\\Rightarrow 7.5 $%Ans<\/p>\n Question 16:\u00a0<\/b>An article is marked at 100% above its cost price. After allowing two successive discounts of 5% and 20% respectively on the marked price, it is sold at x% profit. What is the value of x?<\/p>\n a)\u00a048<\/p>\n b)\u00a075<\/p>\n c)\u00a072<\/p>\n d)\u00a052<\/p>\n 16)\u00a0Answer\u00a0(D)<\/strong><\/p>\n Solution:<\/b><\/p>\n Let the Cp(cost price) be = $x$ and\u00a0 Mp(Marlet price) will be = 2$x$<\/p>\n Accordig to question\u00a0Two successive discount 5% and 20 %<\/p>\n Selling price (sp) = $ 2 x \\times \\dfrac{95}{100} \\times \\dfrac{80}{100} $<\/p>\n $\\Rightarrow \\dfrac{152}{100}x $<\/p>\n Profit = selling price – cost price =$\\dfrac{152}{100}x – x $<\/p>\n $\\Rightarrow \\dfrac{152x-100x}{100 } = \\dfrac{52}{100}x $<\/p>\n $\\Rightarrow\u00a0 \u00a0value of x = \\dfrac { \\dfrac {52}{100}x} {x} \\times 100 $<\/p>\n value of x =$ \\dfrac{52}{100}x \\times \\dfrac{1}{x} \\times 100 $<\/p>\n $\\Rightarrow x = 52 $Ans<\/p>\n Question 17:\u00a0<\/b>A trader buys an article at 80% of its marked price and sells it at 10% discount on its marked price. His percentage profit is:<\/p>\n a)\u00a0$10\\frac{1}{2}$<\/p>\n b)\u00a0$10$<\/p>\n c)\u00a0$12\\frac{1}{2}$<\/p>\n d)\u00a0$15$<\/p>\n 17)\u00a0Answer\u00a0(C)<\/strong><\/p>\n Solution:<\/b><\/p>\n Let M.p be market price of article<\/p>\n so Cp = $\\dfrac{80}{100}\\times M.P\u00a0$<\/p>\n Sp = $ M.P \\times \\dfrac{90}{100}$<\/p>\n then % profit = $ \\dfrac {sp-cp}{cp}\\times 100 $<\/p>\n $\\Rightarrow \\dfrac{10}{80}\\times 100 $<\/p>\n $\\Rightarrow 12.5 =12\\dfrac{1}{2}$ Ans<\/p>\n Question 18:\u00a0<\/b>A person sold a chair at a profit of 13%. Had he sold it for \u20b9607.50 more, he would have gained x%. If the cost price of the chair is \u20b93750, then the value of x is:<\/p>\n a)\u00a030<\/p>\n b)\u00a032<\/p>\n c)\u00a028.4<\/p>\n d)\u00a029.2<\/p>\n 18)\u00a0Answer\u00a0(D)<\/strong><\/p>\n Solution:<\/b><\/p>\n Cost price of chair = Rs. 3750<\/p>\n Selling price after 13 % profit = $\\frac{113}{100}\\times3750=Rs.$ $4237.50$<\/p>\n According to ques, new selling price = Rs.\u00a0$4237.50+607.50=Rs.$ $4845$<\/p>\n => $\\frac{4845-3750}{3750}\\times100=x$<\/p>\n => $x=\\frac{1095}{37.5}=29.2\\%$<\/p>\n => Ans – (D)<\/p>\n Question 19:\u00a0<\/b>Sujatha sold 75% of her goods at a profit of 24% and the remainingat a loss of 40%. Whatis her gain\/loss percentage on the whole transaction?<\/p>\n a)\u00a08% gain<\/p>\n b)\u00a010% gain<\/p>\n c)\u00a09% loss<\/p>\n d)\u00a07.5% loss<\/p>\n 19)\u00a0Answer\u00a0(A)<\/strong><\/p>\n Solution:<\/b><\/p>\n Let total number of goods be 100 and Cost Price of each good = Rs. 100<\/p>\n => Total cost price = Rs.\u00a010,000<\/p>\n Now, selling price of 75 goods at 24%\u00a0profit = $75\\times(\\frac{124}{100}\\times100)=Rs.$ $9300$<\/p>\n Similarly, S.P. of 25 goods at 40% loss = $25\\times60 = Rs.$ $1500$<\/p>\n =>\u00a0Total\u00a0selling price = Rs. 10,800<\/p>\n $\\therefore$ Overall Gain % = $\\frac{(10800-10000)}{10000}\\times100=8\\%$<\/p>\n => Ans – (A)<\/p>\n Question 20:\u00a0<\/b>Raghu sold an article for \u20b9180 after allowing a 20% discounton its marked price. Had he not allowed any discount, he would have gained 20%. What is the cost price of the article?<\/p>\n a)\u00a0\u20b9190.40<\/p>\n b)\u00a0\u20b9192.80<\/p>\n c)\u00a0\u20b9188.60<\/p>\n d)\u00a0\u20b9187.50<\/p>\n 20)\u00a0Answer\u00a0(D)<\/strong><\/p>\n Solution:<\/b><\/p>\n Selling price of article = Rs. 180<\/p>\n Marked price after 20% discount = $\\frac{180}{80}\\times100=Rs.$ $225$<\/p>\n If there was no discount, then Selling price = Rs. 225<\/p>\n => Cost price after 20% profit = $\\frac{225}{120}\\times100$<\/p>\n = $\\frac{1125}{6}=Rs.$ $187.50$<\/p>\n => Ans – (D)<\/p>\n