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 Profit and Loss Questions

Popular Latest Rated Important Formulae

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:

Uma sold an article for 3400 and got a profit of 25%. If he had sold the article for Rs. 3265. How much profit% would Uma have got ?

A) 22% B) 27%
C) 20% D) 18%
 
Answer & Explanation Answer: C) 20%

Explanation:

Given

      125% ---- 3400

=> 100% ---- ?

=> ? = 3400x100/125 = 2720

=> Cost price of the article = Rs. 2720

Profit when article sold at Rs. 3265 = 3265 - 2720 = 545

Hence, Profit% = Gain x 100/cost price

=> P% = 545 x 100/2720

=> P% = 20%

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15 5394
Q:

The profit earned by selling an article for Rs.753 is equal to the loss incurred when the same article is sold for Rs.455.What should be the sale price for making 50% profit ?

A) Rs.855 B) Rs.955
C) Rs.906 D) Rs.896
 
Answer & Explanation Answer: C) Rs.906

Explanation:

Let C.P =Rs. x

 

Then as given, (753 - x ) = (x - 455)

=>2x = 1208 => x = 604

 There fore S.P= 150% of 604 => Rs. 150100×604= Rs.906

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13 5390
Q:

A man sold two flats for Rs. 4.15 lakhs each. On one he gained 2% and on the other he lost 2%. What percent is the effect of the sale on the whole  ?

A) 0.25 % B) 0.04 %
C) 0.5 % D) 0 %
 
Answer & Explanation Answer: B) 0.04 %

Explanation:

In this type cases we always have loss only.

 

Loss% = Common Gain or Loss102= 2102= 1/25 = 0.04 %

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11 5351
Q:

A sold an article to B at 40% profit and B sold it to C at 50% profit, then what will be profit percent with respect to A ?

A) 97 % B) 110 %
C) 135 % D) 115 %
 
Answer & Explanation Answer: B) 110 %

Explanation:

% Profit with respect to A = 40 + 50 + (40 x 50)/100 = 90 + 20 = 110 %.

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2 5296
Q:

12 days payment to the servant in a cloth showroom in festival season is Rs. 400 plus one shirt. The servant leaves after 9 days and recieves Rs. 280 and a shirt. What is the price of the shirt ? 

A) Rs. 80 B) Rs. 120
C) Rs. 70 D) Rs. 100
 
Answer & Explanation Answer: A) Rs. 80

Explanation:

The servant worked for 9 days instead of 12 days, he should receive 9/12 of his total payment

Let the price of 1 shirt be Rs. S 

i.e., 3/4 (400 + S).

However, the question states that the servant receive Rs. 280 + S where S is the price of the shirt.

By equating the two equations we get 3/4 (400 + S) = 280 + S.

Therefore, Price of the shirt S = Rs. 80.

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22 5295
Q:

Cost Price of 22 articles is same as the Selling Price of 18 articles, find the profit percentage?

A) 33.33% B) 22.22%
C) 11.11% D) 1%
 
Answer & Explanation Answer: B) 22.22%

Explanation:

Let the cost price of 1 article = Rs. 1

From the given data,

Then, the selling price of 1 article = 22/18 = 11/9

Then, Profit = SP - CP = 11/9 - 1 = 2/9

Required, profit % = Profit/CP x 100

= [(2/9)/1] x 100

= 200/9

= 22.222%.

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11 5205
Q:

Anil purchases two books for Rs.100. He sells first at loss of 5% and second al 20% profit. If he gets Overall profit of 5% then what is cost of first book?

A) 58 B) 60
C) 55 D) 45
 
Answer & Explanation Answer: B) 60

Explanation:

-5-----------------------5-------------------20

5-(-5) = 10

20-5= 15

Ratio of cost price of book1 and book2 = 3:2 

Then cost price of book 1 is given by

(3/5) x 100 = Rs. 60.

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20 5170
Q:

If a trader sold two cars each at Rs. 404415 and gains 15% on the first and loses 15% on the second, then his profit or loss percent on the whole is ?

A) 1.44 % B) 2.02 %
C) 1.04 % D) 2.25 %
 
Answer & Explanation Answer: D) 2.25 %

Explanation:

SP of each car is Rs. 404415, he gains 15% on first car and losses 15% on second car.

In this case, there will be loss and percentage of loss is given by = [(profit%)(loss%)]/100
= (15)(15)/100 % = 2.25%
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4 5121