Daily Practice Problems Profit, Loss and Discount (Including Overhead Expenses and Tax)

Question 1:

Which of the following is correct about Loss%? [Level: Easy]

(a) Loss% = %

(b) Loss% =

(d) Loss% = %

Question 2:

Which of the following is the correct formula of the number of articles bought and sold? [Level: Easy]

(a)

(b)

(c)

(d)

Question 3:

Chotu goes from Delhi to Mussoorie to buy an article, which costs Rs. 7,500 in Bangalore. He sells this article in Delhi for Rs. 9,000. Find his gain or loss per cent. Consider that he spends Rs. 900 on his transportation, food, etc. [Level: Moderate]

(a) 12 %

(b) 7 %

(d) 9 %

Question 4:

The selling price of a chair is times its cost price. Find the loss or profit as a percent? [Level: Moderate]

(a) 2%

(b) 4%

(d) 8%

Question 5:

An article is bought from Jaipur for Rs. 6,000 and is sold in Delhi fort Rs. 7,820. If Rs. 1,200 is spent on its transportations, etc., find the loss or the gain as percent? [Level: Moderate]

(a) 5 %

(b) 6 %

(d) 6 %

Question 6:

The cost price of an article is 70% of its selling price. What is the profit or the loss as percent? [Level: Moderate]

(a) 42 %

(b) 42 %

(d) 42 %

Question 7:

Geeta bought some pens for Rs. 40. For how much should she sell it to gain 15%? [Level: Easy]

(a) Rs. 43

(b) Rs. 40

(d) Rs. 46

Question 8:

By selling an article for Rs. 382.50 a man loses 15%. Find its cost price? [Level: Easy]

(a) Rs. 450

(b) Rs. 400

(d) Rs. 550

Question 9:

Mr. Anthony sold two bicycles for Rs. 240 each, gaining 20% on one and losing 20% on the other. Find his total loss or gain, as percent, on the whole transaction? [Level: Moderate]

(a) Rs. 10

(b) Rs. 20

(d) Rs. 40

Question 10:

A fruit-seller buys oranges at 4 for Rs. 3 and sells them at 3 for Rs.4. Find his profit percent? [Level: Easy]

(a) 77

(b) 97

(d) 67

Question 11:

The cost price of 10 articles is equal to the selling price of 9 articles. Find its profit percent? [Level: Moderate]

(a) 10 %

(b) 11

(d) 9 %

Question 12:

By selling a certain number of goods for Rs. 5,500 a shopkeeper loses equal to one-tenth of their selling price. Find:

(i) The loss incurred

(ii) The cost price of the goods [Level: Difficult]

(a) Rs. 550, Rs. 6050

(b) Rs. 700, Rs. 7050

(d) Rs. 400, 7050

Question 13:

By selling 8 pens, Shyam loses equal to the cost price of 2 pens. Find his loss percent? [Level: Moderate]

(a) 100%

(b) 20%

(d) 30%

Question 14:

A shop-keeper bought 300 eggs at 80 paisa each. 30 eggs were broken in transaction and then he sold the remaining eggs at one rupee each. Find his gain or loss as percent? [Level: Difficult]

(a) 14.75%

(b) 14.25%

(d) 12.5%

Question 15:

Find a single discount (as percent) equivalent to successive discount of 10% and 20%? [Level: Moderate]

(a) 18%

(b) 20%

(d) 30%

Question 16:

A dishonest shopkeeper professes to sell pulses at his cost price but uses a false weight of 950 gm for each kilogram. Find his gain percent? [Level: Difficult]

(a) 5
(b) 6
(c) 7
(d) 8

Question 17:

A shopkeeper allows his customers 10% off on the marked price of goods and still gets a profit of 25%. What is the actual cost to him of an article marked Rs. 250? [Level: Moderate]

(a) Rs. 100

(b) Rs. 200

(d) Rs. 200

Question 18:

Mrs. Sharma purchased confectionery goods costing Rs. 165 on which the rate of tax is 6%. and some tooth paste, shaving cream, soap, etc., costing Rs. 230 on which the rate of Tax is 10%. If she gives a five-hundred rupee note to the shopkeeper, what money will he return to Mrs. Sharma? [Level: Difficult]

(a) Rs. 70

(b) Rs. 72.30

(d) Rs. 70.10

Question 19:

Vikram bought a watch for Rs. 825. If this amount includes 10% VAT on the list prices. What was the list price of the watch? [Level: Moderate]

(a) Rs. 750

(b) Rs. 850

(d) Rs. 800

Question 20:

Which of the following options is not a type of GST? [Level: Moderate]

(a) Union GST

(b) State GST

(d) Integrated GST

**********

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Practicing questions plays a pivotal role in achieving excellence in exams. Just as the adage goes, "Practice makes perfect," dedicating time to solve a diverse range of exam-related questions yields manifold benefits. Firstly, practicing questions allows students to familiarize themselves with the exam format and types of problems they might encounter. This familiarity instills confidence, reducing anxiety and improving performance on the actual exam day. Secondly, continuous practice sharpens problem-solving skills and enhances critical thinking, enabling students to approach complex problems with clarity and efficiency. Thirdly, it aids in identifying weak areas, allowing students to focus their efforts on improving specific topics. Moreover, practice aids in memory retention, as active engagement with the material reinforces learning. Regular practice also hones time management skills, ensuring that students can allocate appropriate time to each question during the exam. Overall, practicing questions not only boosts exam performance but also instills a deeper understanding of the subject matter, fostering a holistic and effective learning experience.

All About Daily Practice Problems on ICSE 8 Maths Profit, Loss and Discount (Including Overhead Expenses and Tax) NCERT Chapter 8

Our Daily Practice Problems (DPPs) offer a diverse range of question types, including Multiple Choice Questions (MCQs) as well as short and long answer types. These questions are categorized into Easy, Moderate, and Difficult levels, allowing students to gradually progress and challenge themselves accordingly. Additionally, comprehensive solutions are provided for each question, available for download in PDF format - Download pdf solutions as well as Download pdf Questions. This approach fosters a holistic learning experience, catering to different learning styles, promoting self-assessment, and improving problem-solving skills. With our well-structured DPPs, students can excel in exams while gaining a deeper understanding of the subject matter. Hope you found the content on ICSE 8 Maths Profit, Loss and Discount (Including Overhead Expenses and Tax) NCERT Chapter 8 useful.

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