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Karnataka Police Constable Profit and Loss — practice questions — page 2

Explore 45 free Profit and Loss questions in Karnataka Police Constable Quantitative Aptitude. Open each question or exercise to read its content, reference answers and available explanation.

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Profit and Loss questions and exercises with answers

Showing questions 31–45 of 45.

Reading the definitions backRead the answer and worked solution →True or false: reading a billRead the answer and worked solution →Who pays, and who collects?Read the answer and worked solution →Assertion and reason: pricesRead the answer and worked solution →Tap every statement true of sales taxRead the answer and worked solution →Complete the cost price ruleRead the answer and worked solution →A discount is a reduction given on which price of an article?Read the answer and worked solution →An item marked at 840 is sold for 714. The discount per cent is:Read the answer and worked solution →A frock is listed at 220 and a discount of 20% is announced. Its sale price is:Read the answer and worked solution →A table marked at 15,000 is available for 14,400. The discount per cent is:Read the answer and worked solution →An almirah is sold for 5,225 after a discount of 5%. Its marked price was:Read the answer and worked solution →An article bought for 400 is sold for 500. The profit per cent is:Read the answer and worked solution →A shopkeeper marks goods 25% above cost and then allows a 20% discount. His overall result is:Read the answer and worked solution →An item is sold for 15,000 at a loss of 20%. Its cost price was:Read the answer and worked solution →A shop offers a 20% discount. The sale price of a bag marked at 250 is:Read the answer and worked solution →

Worked practice questions

Reading the definitions back

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Questions
  1. Question
    Discount is a reduction on the
    Choices
    1. cost price
    2. marked price
    3. bill amount
    Correct choice
    marked price
  2. Question
    Cost price equals buying price plus
    Choices
    1. sales tax
    2. discount
    3. overhead expenses
    Correct choice
    overhead expenses
  3. Question
    Sales tax is added to the
    Choices
    1. bill amount
    2. cost price
    3. discount
    Correct choice
    bill amount
  4. Question
    GST is levied on the supply of
    Choices
    1. goods only
    2. goods or services or both
    3. services only
    Correct choice
    goods or services or both
Straight recall of the chapter's commercial terms. Source: syllabus Maths, Ch 7 Comparing Quantities.

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True or false: reading a bill

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Questions
  1. Statement is true
    Yes
    Statement
    A bill total may include sales tax on top of the item amounts.
  2. Statement is true
    Yes
    Statement
    The shopkeeper passes the collected sales tax to the government.
  3. Statement is true
    No
    Statement
    A discount raises the amount the customer pays.
  4. Statement is true
    Yes
    Statement
    The sale price is what remains after the discount.
  5. Statement is true
    No
    Statement
    The customer pays the marked price when a discount applies.
How the pieces of a bill fit together. Source: syllabus Maths, Ch 7 Comparing Quantities.

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Who pays, and who collects?

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Items
  1. Item
    The customer at the counter
    Category
    Pays it
  2. Item
    The person buying the item
    Category
    Pays it
  3. Item
    The shopkeeper
    Category
    Collects it
  4. Item
    Adds it to the bill
    Category
    Collects it
  5. Item
    The government
    Category
    Receives it
  6. Item
    Levies it on the sale
    Category
    Receives it
Categories
  1. Item
    Pays it
  2. Item
    Collects it
  3. Item
    Receives it
The money flow behind sales tax. Source: syllabus Maths, Ch 7 Comparing Quantities.

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