Profit & Loss

Free Profit Loss MCQ Test Online:

Created on By Kamal Raj

Profit Loss Quiz Test Online

1 / 20

A watch was sold at a loss of 10%. If it was sold for Rs.140 more, there would have been a gain of 4%. What is the cost price?

2 / 20

A cycle is bought for Rs.900 and sold for Rs.1080, find the gain percent?

3 / 20

A shopkeeper gains 17% after allowing a discount of 10% on the marked price of an article. Find his profit percent if the article is sold at marked price allowing no discount.

4 / 20

Successive discounts of 20% and 10% is equivalent to a single discount of howmany percent?

5 / 20

If the selling price of 10 articles is the same as the cost price of 12 articles. Find gain percenta.

6 / 20

If the marked price of an article is Rs. 380 and a discount of 5% is given on it, what is the selling price?

7 / 20

A 10% hike in the price of pulses forces a person to purchase 2kg less for Rs 110 . Find the original prices of the pulses.

8 / 20

A Woman buys a toy for Rs 25 and sells it for Rs 30. Find her gain percent.

9 / 20

Arun purchased a T.V set at 20% markdown. On the off chance that he gets a rebate of 25%, he spares Rs 1800. For the amount of does he buy the T.V.set?

10 / 20

A broker denotes his merchandise at such a cost, to the point that he can deduct 15% for money but makes 20% benefit. The stamped cost of a thing which cost him Rs 90 is:

11 / 20

When a plot is sold for Rs. 33,300, the owner loses 10%. At what price must that plot be sold in order to gain 10%?

12 / 20

A man offers an article at 12.5% misfortune. Had he sold it for Rs. 103.60 more, he could have picked up 6%. What is the C.P of the articles?

13 / 20

A trader offers a couple of shades at a benefit of 25%. In the event that he had purchased it at 25% less and sold it for Rs. 10 less, then he would have increased 40%. The expense cost of the pair of shades is:

14 / 20

Raj purchases some toffee at 2 for a rupee and offers them at 5 for a rupee. His misfortune percent is:

15 / 20

By offering a seat for Rs. 572, a man increases 30%. The expense cost of the Chair is:

16 / 20

A sum doubles in 20 years at simple interest. How much is the rate per annum?

17 / 20

A certain sum lent out at simple Interest and the true discount on a certain sum for 1 year at 5% is Rs. 1. Find the sum:

18 / 20

Simple interest on a certain sum of money for 3 years at 8% per annum is half the compound interest on Rs. 4000 for 2 years at 10% per annum. The sum placed on simple interest is:

19 / 20

What is the difference between the compound interests on Rs. 5000 for 1½ years at 4% per annum compounded yearly and half-yearly?

20 / 20

The difference between the compound interest and the simple interest on a certain sum at 10% per annum for two years is Rs. 60. Find the sum.

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What Do You Mean by Profit and loss?

Profit and Loss is a statement that summarizes the financial performance of a business or organization over a specific period of time. It is a standard financial statement that all businesses should have, regardless of size or type. It shows the total income, expenses, and profits of the business.

Profit and Loss statements are important because they provide an accurate picture of the financial health of a business. This statement gives managers and investors a quick overview of the company’s financial performance. It also allows them to compare it to the performance of other businesses in the same industry.

The Profit and Loss statement starts with the total income generated by the business. This includes sales of products and services, as well as other forms of income such as interest, dividends, and royalties. It then subtracts all expenses incurred by the business. This includes costs of raw materials, labor, and overhead costs. Finally, the resulting figure is the net profit or loss of the business.

Profit and Loss statements are also used to calculate tax liabilities and prepare financial forecasts. By keeping track of the financial performance of the business over time, managers can make decisions about how to allocate resources and make changes that will improve the profitability of the business.

Profit and Loss statements are a key part of any business plan and should be kept up to date. They provide an important source of information for investors, creditors, and other stakeholders. They also provide a good indication of the overall health of the business.

What Is The Formula of Profit and Loss Calculation?

The formula of Profit and Loss (P&L) is used to determine the financial performance of a business over a period of time. It allows businesses to track their income and expenses and to identify areas where they can improve their profitability. By understanding the P&L formula and how to use it, businesses can make better business decisions, plan for future growth, and increase their profitability.

The formula of Profit and Loss is:

Revenue – Expenses = Profit or Loss

The formula is simple but powerful. It allows businesses to measure their performance and better understand their financial situation.

Revenue is the total amount of income a business earns from sales, services, and other activities. This includes all income before taxes, deductions, and other costs. Expenses are the costs incurred by a business in order to operate, such as salaries and wages, rent, utilities, materials, and other costs.

The difference between revenues and expenses is the business’s profit or loss. If revenues are greater than expenses, the business has made a profit. If expenses are greater than revenues, the business has made a loss.

The P&L formula is an important tool for businesses because it allows them to see where they are making or losing money. By understanding the formula and tracking their income and expenses, businesses can identify areas where they can increase their profitability. For example, they can identify areas where they can reduce expenses or increase sales.

The P&L formula is a valuable tool for businesses of any size. It allows them to track their income and expenses, identify areas where they can improve, and measure their financial performance. By understanding the formula and how to use it, businesses can make better business decisions and increase their profitability.


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