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UPSC Exam  >  UPSC Test  >  CSAT Preparation  >  Test: Profit & Loss- 2 - UPSC MCQ

Profit & Loss- 2 - Free MCQ Practice Test with solutions, UPSC


MCQ Practice Test & Solutions: Test: Profit & Loss- 2 (10 Questions)

You can prepare effectively for UPSC CSAT Preparation with this dedicated MCQ Practice Test (available with solutions) on the important topic of "Test: Profit & Loss- 2". These 10 questions have been designed by the experts with the latest curriculum of UPSC 2026, to help you master the concept.

Test Highlights:

  • - Format: Multiple Choice Questions (MCQ)
  • - Duration: 20 minutes
  • - Number of Questions: 10

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Test: Profit & Loss- 2 - Question 1
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Akshay and Kalpesh are partners in a business. Akshay invests 3/4th of the capital for 5 months. Kalpesh received 1/2 of the total profit. For how many months did Kalpesh invest his capital?

Detailed Solution: Question 1

Here’s the same reasoning in plain text, with no LaTeX or special math formatting:

  1. Assume the total capital is 1 “unit.”

  2. Akshay puts in 3/4 of that unit for 5 months. His “capital‐time” contribution is
    (3/4) × 5 = 15/4.

  3. That means Kalpesh put in the remaining 1/4 of the unit for some number of months, call it t. His contribution is
    (1/4) × t = t/4.

  4. They share profit in proportion to these contributions. Since Kalpesh gets half the profit, their shares are equal:
    Akshay’s share : Kalpesh’s share = 1 : 1
    so 15/4 = t/4.

  5. Cancel the “/4” on both sides to get 15 = t.

  6. Therefore, Kalpesh must have invested his capital for 15 months.

Answer: 15 months.

Test: Profit & Loss- 2 - Question 2
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When an item is sold for Rs. 18,700, the owner loses 15%. At what price should that item be sold to get a gain of 15%?
 

Detailed Solution: Question 2

- The item is sold for Rs. 18,700 with a loss of 15%.
- This means the selling price is 85% of the cost price (CP).
- To find the cost price, use the formula: CP = Selling Price / (1 - Loss Percentage).
- CP = 18700 / 0.85 = Rs. 22,000 (approx).
- To achieve a gain of 15%, the selling price should be 115% of the cost price.
- Selling Price = CP * 1.15 = 22000 * 1.15 = Rs. 25,300.
- Therefore, the correct answer is Rs. 25,300.

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Test: Profit & Loss- 2 - Question 3
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100 oranges were brought at the rate of Rs. 350 and sold at the rate of Rs. 48 per dozen. What is the percentage of profit or loss?  

Detailed Solution: Question 3

So before solving this question we will get the C.P. and S.P. of 1 article to get the gain percent.

C.P. of 1 orange = 350/100 = Rs 3.50
S.P. of one orange = 48/12 = Rs 4 [note: divided by 12 as 1 dozen contains 12 items]
Gain = 4 - 3.50 = Rs 0.50

Profit

Test: Profit & Loss- 2 - Question 4
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A shopkeeper sells one radio for Rs. 840 at a gain of 20% and another for Rs. 960 at a loss of 4%. What is his total gain or loss percentage? 

Detailed Solution: Question 4

Case 1) S.P of radio = Rs 840
Profit = 20%
By unitary method C.P = (100/120) ×840= 700Rs
Case 2) S.P of 2nd radio = Rs 960
Loss = 4%
By unitary method C.P = (100/96) × 960 = 1000 Rs
Total C.P = 700 + 1000 = 1700 Rs
Total S.P= 840 + 960 = 1800 Rs
There is a profit of = 1800 - 1700 = Rs100
Therefore profit% = (100/1700) × 100 = 100/17 
= 5.882% Ans
 

Test: Profit & Loss- 2 - Question 5
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A trader mixes 26 kg of rice at Rs. 20 per kg with 30 kg of rice of other variety at Rs. 36 per kg and sells the mixture at Rs. 30 per kg. What is his profit percentage?
 

Detailed Solution: Question 5

C.P. of 56 kg rice = Rs. (26 x 20 + 30 x 36) = Rs. (520 + 1080) = Rs. 1600.

S.P. of 56 kg rice = Rs. (56 x 30) = Rs. 1680.

Gain =(80/1600*100) % = 5%

Test: Profit & Loss- 2 - Question 6
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If a material is sold for Rs.34.80, there is a loss of 25%. Find out the cost price of the material?
 

Detailed Solution: Question 6

The correct answer is A as
 cost price = SPX100/100-loss
=34.80×100/75
=46.40

Test: Profit & Loss- 2 - Question 7
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A fruit seller sells apples at the rate of Rs.9 per kg and thereby loses 20%. At what price per kg, he should have sold them to make a profit of 5%?
 

Detailed Solution: Question 7

Step 1: Find the Cost Price (CP)

  • Selling at Rs. 9/kg with a 20% loss means the seller gets only 80% of the cost price.

  • Let CP = 100%. Then, 80% of CP = Rs. 9.

  • So, CP = (Rs. 9 × 100) / 80 = Rs. 11.25 per kg.

Step 2: Calculate Selling Price for 5% Profit

  • To earn a 5% profit, the selling price should be 105% of CP.

  • So, Desired SP = 105% of Rs. 11.25 = (105 × 11.25) / 100 = Rs. 11.81 per kg.

Test: Profit & Loss- 2 - Question 8
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A trader gives 12% additional discount on the discounted price, after giving an initial discount of 20% on the labeled price of an item. The final sale price of the item is Rs.704. Find out the labeled price?
 

Detailed Solution: Question 8

Let the marked price be Rs. 100.
Successive discounts of 20% and 12% were given.
Sale price = 100 × 80/100 × 88/100 = Rs.704/10
If the sale price is Rs.704/10, the marked price is Rs.100
If the sale price is Rs.704, the marked price is
= 100 × 10 × 704/704 =  Rs.1000
 

Test: Profit & Loss- 2 - Question 9
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A man sells two houses at the rate of ₹1.95 lac each. He gains 5% on one and on other, he lost 5% find his gain or loss percent in the whole transaction.

Detailed Solution: Question 9

Test: Profit & Loss- 2 - Question 10
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John purchased a machine for Rs. 80,000. After spending Rs.5000 on repair and Rs.1000 on transport he sold it with 25% profit. What price did he sell the machine?

 

Detailed Solution: Question 10

C.P. = (80000 + 5000 + 1000)
⇒ 86000
As we know that Profit = 25%
S.P. = 125% of 86000
⇒ (125/100 * 86000)
⇒ 107500 Rs.

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About this UPSC Practice Test

This test contains 10 MCQs on Profit & Loss- 2 with detailed solutions for each question. It is part of the CSAT Preparation course on EduRev, designed to align with the current UPSC syllabus. Each solution explains not just the correct answer but also gives you an understanding of the topic — not just to attempt the question but also help you prepare for the exam with practice.

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