Quiz: Profit and Loss Practice Questions to Sharpen Your Skills (set 1)

This quiz is designed to test and strengthen your understanding of profit and loss concepts. The questions range from low to moderate difficulty, making them suitable for anyone looking to practice and enhance their skills. For more difficult questions, check quiz in Set 2. Try to solve the questions without external help. If you don’t get all the answers correct on your first attempt, don’t worry—you can retake the quiz to aim for a perfect score. If you notice any errors in the questions or answers, please leave a comment so we can address them. Enjoy the quiz and have fun!

1. 
A shopkeeper buys a toy for \$500 and sells it for \$600. Find his profit percentage.

2. 
A trader sells a watch at a loss of 10%. If the selling price is ₹900, find the cost price of the watch.

3. 
A fruit seller buys 50 kg of apples for ₹2000 and sells them at ₹50 per kg. Calculate his profit or loss percentage.

4. 
A robot is marked at \$1200. If a discount of 20% is offered, what is the selling price of the robot?

5. 
A pair of shoes is sold for \$80 after a discount of 20%. Find the marked price of the shoes.

6. 
The cost price of an article is ₹800. If the price is increased by 20% and then sold at a discount of 10%, find the selling price.

7. 
A shopkeeper marks an item 40% above the cost price but allows a discount of 20%. If the cost price is \$500, find the profit or loss percentage.

8. 
A bicycle is marked at ₹8000. Successive discounts of 10% and 5% are offered. If the cost price is ₹6000, find the profit or loss percentage.

9. 
A shopkeeper marks an item 50% above the cost price and offers a discount of 20%. If the shopkeeper still makes a profit of \$200, find the cost price of the item.

10. 
A trader sells an article at a loss of 10%. If he had sold it for \$100 more, he would have gained 15%. Find the cost price of the article.

11. 
A shopkeeper sells an item at a profit of 25%. If the cost price decreases by 20% and the selling price remains the same, find the new profit percentage.

12. 
A shopkeeper sells an item at a profit of 20%. If the cost price increases by 10% and the selling price increases by 5%, find the new profit percentage.

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