Profit and Loss Questions

FACTS  AND  FORMULAE  FOR  PROFIT  AND  LOSS  QUESTIONS

 

 

Selling Price (SP) : The price at which the shopkeeper sells the goods is called the selling price (SP) of the goods sold by the shopkeeper.

 

Profit : If the selling price of an article is more than its cost price, then the dealer (or shopkeeper) makes a profit (or gain)

i.e Profit = SP - CP;       SP > CP

 

Loss : If the selling price of an article is less than its cost price, then the dealer suffers a loss.

i.e loss = CP - SP;        CP > SP

 

IMPORTANT FORMULAE


1. Profit percentage = ProfitC.P×100

 

2. Loss percentage = LossC.P×100

 

3.S.P=100+Gain %100×C.P = 100-Loss%100×C.P

 

4. C.P=100100+Gain %×S.P = 100100-Loss %×S.P 

5. If an article is sold at a gain of say 35%, then SP = 135% of CP

6. If an article is sold at a loss of say 35%, then SP = 65% of CP

7. When a person sells two similar items, one at a gain of say x%, and the other at a loss of x%, then the seller always incurs a loss given by :Loss % =Common Loss and Gain %10 2=x102

 

8. If a trader Professes to sell his goods at cost price, but uses false weihts, then 

Gain % =ErrorTrue Value - Error×100%

Q:

A shopkeeper sells a table at a discount of 20% and earns a profit of 60%. If he sells the same table at 40% discount, then what will be his new profit percent?

A) 20 B) 30
C) 35 D) 40
 
Answer & Explanation Answer: A) 20

Explanation:
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6 1975
Q:

Two pens are bought at the rate of Rs 20 each. Shopkeeper sells one at the profit of 25% and other at the loss of 25%. What will be the total profit or loss in the whole transaction?

 

A) No profit/loss B) Profit of Rs 1
C) Loss of Rs 1 D) Loss of Rs 2
 
Answer & Explanation Answer: A) No profit/loss

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1 1960
Q:

If the ratio of cost price and selling price is 4 : 5 ,then the percentage of profit will be

A) 20 B) 0.1
C) 10 D) 25
 
Answer & Explanation Answer: D) 25

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3 1906
Q:

‘X’ is a bread seller who marked up price of each bread packet by 150% above and allow discounts of 40% and made a profit of Rs. 30 on each bread packet. If ‘X’ allows 37.5% discount on each packet, then find how much profit he gets on selling 80 bread packets?

A)  Rs 2750  B)  Rs 3200 
C)  Rs 2500  D)  Rs 2700 
 
Answer & Explanation Answer: D)  Rs 2700 

Explanation:

Let cost price of each bread packet = a Rs.

So, marked price of each bread packet = 2.5a

And selling price of each bread packet = 2.5a × 60/100 = 1.5a

Given, 1.5a –

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4 1899
Q:

If a vendor sells a coconut at Rs 14.4 he makes 10% loss. If he wants to make 25% profit, then at what price (in Rs) should he sell?

A) 18 B) 20
C) 16 D) 22
 
Answer & Explanation Answer: B) 20

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6 1873
Q:

If a stall sells a pizza at Rs 200 he makes 20% loss if he wants to make 10% profit then at what price (in Rs) should he sell?

A) 250 B) 300
C) 275 D) 325
 
Answer & Explanation Answer: C) 275

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1 1823
Q:

While selling a router, a shopkeeper gives a discount of 15%. If he gives a discount of 20%, he earns Rs. 51 less as profit. What is the original marked price of the router?

A) Rs. 1000 B) Rs. 1020
C) Rs. 1040 D) Rs. 980
 
Answer & Explanation Answer: B) Rs. 1020

Explanation:

Let the marked price of the router be Rs. P

From the given data,

P x 85100 - P x 80100 = 51P x 5100 = 51 P = 51005 = 1020 

 

Hence, the original marked price of the router is Rs. 1020.

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7 1809
Q:

A rice trader buys 25 quintals of rice for Rs 1,825. 27% rice is lost in transportation. At what rate should he sell to earn 20% profit?

A) Rs 44.4 per quintal B) Rs 120 per quintal
C) Rs 87.6 per quintal D) Rs 115.8 per quintal
 
Answer & Explanation Answer: B) Rs 120 per quintal

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9 1781