Sawaal

 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:

Cost of 3 cricket balls = cost of 2 pairs of leg pads. 

Cost of 3 pairs of leg pads = cost of 2 pairs of gloves.

Cost of 3 pairs of gloves = cost of 2 cricket bats.

If a cricket bat costs Rs 54, what is the cost of a cricket ball. 

A) Rs 12 B) Rs 16
C) Rs 14 D) Rs 18
 
Answer & Explanation Answer: B) Rs 16

Explanation:

3 pairs of gloves = 2 x 54 = 108 ; 1 pairs of gloves = 36
3 pairs of leg pads = 2 x 36 = 1 pairs of leg pads = 24
3 cricket balls = 2 x 24 = 48
cost of 1 cricket ball = 16;

Report Error

View Answer Report Error Discuss

Filed Under: Profit and Loss

45 48378
Q:

If the cost price is 25% of selling price. Then what is the profit percent.

A) 150% B) 200%
C) 300% D) 350%
 
Answer & Explanation Answer: C) 300%

Explanation:

Let the S.P = 100
then C.P. = 25

Profit = 75

Profit% = (75/25) * 100 = 300%

Report Error

View Answer Report Error Discuss

Filed Under: Profit and Loss

193 40946
Q:

Tarun got 30% concession on the labelled price of an article and sold it for Rs. 8750 with 25% profit on the price he bought. What was the labelled price ?

A) 10000 B) 12000
C) 13000 D) 14000
 
Answer & Explanation Answer: A) 10000

Explanation:

Cost Price = Rs.100125×8750 = Rs. 7000. Let the labelled price be Rs. x. 

 

Then, 70100*x=7000 ⇒x=Rs.7000*10070 

 

= Rs.10000

Report Error

View Answer Report Error Discuss

Filed Under: Profit and Loss

200 36035
Q:

A person incurs a loss of 5% be selling a watch for Rs. 1140. At what price should the watch be sold to earn 5% profit.

A) Rs.1200 B) Rs.1230
C) Rs.1260 D) Rs.1290
 
Answer & Explanation Answer: C) Rs.1260

Explanation:

Let the new S.P be x, then

(100 - loss%) : (1st S.P.) = (100 + gain%) : (2nd S.P.)

⇒951140=105x 

=> x = 1260

Report Error

View Answer Report Error Discuss

Filed Under: Profit and Loss

113 35214
Q:

A Shopkeeper sells two articles at Rs.1000 each, making a profit of 20% on the first article and a loss of 20% on the second article. Find the net Profit or loss that he makes? 

A) 4% B) 5%
C) 6% D) 8%
 
Answer & Explanation Answer: A) 4%

Explanation:

SP of first article = Rs.1000

 

Profit = 20%

 CP = SP x 100100+P% = Rs. 25003

SP of Second Article = Rs.1000

 Loss = 20%

 CP = SP x 100100-L% = Rs. 1250

 

So, Total SP = Rs.2000; Total CP = Rs.6250/3

 

As the CP is more than SP, he makes a loss.

 

Loss = CP - SP = (6250/3) - 2000 = Rs.(250/3)

 

So, Loss Percent = Lossx100/CP = 4%

 

 

Report Error

View Answer Report Error Discuss

Filed Under: Profit and Loss
Exam Prep: AIEEE , Bank Exams , CAT , GATE
Job Role: Bank Clerk , Bank PO

79 33128
Q:

A man buys oranges at Rs 5 a dozen and an equal number at Rs 4 a dozen. He sells them at Rs 5.50 a dozen and makes a profit of Rs 50. How many oranges does he buy?

A) 30 dozens B) 40 dozens
C) 50 dozens D) 60 dozens
 
Answer & Explanation Answer: C) 50 dozens

Explanation:

Cost Price of 2 dozen oranges Rs. (5 + 4) = Rs. 9.
Sell price of 2 dozen oranges = Rs. 11.
If profit is Rs 2, oranges bought = 2 dozen.
If profit is Rs. 50, oranges bought = (2/2) * 50 dozens = 50 dozens.

Report Error

View Answer Report Error Discuss

Filed Under: Profit and Loss

172 32894
Q:

What profit percent is made by selling an article at a certain price, if by selling at 2/3rd of that price, there would be a loss of 20%   ?

A) 30 % B) 25 %
C) 15 % D) 20 %
 
Answer & Explanation Answer: D) 20 %

Explanation:

SP2 = 2/3 SP1
CP = 100
SP2 = 80
2/3 SP1 = 80

SP1 = 120
100 --- 20   => 20%

Report Error

View Answer Report Error Discuss

Filed Under: Profit and Loss
Exam Prep: AIEEE , Bank Exams , CAT , GATE
Job Role: Bank Clerk , Bank PO

94 32441
Q:

Due to reduction of 25% in price of oranges a customer can purchase 4 oranges more for Rs. 16. what is original price of an orange?

A) Rs 1 B) Rs 1.33
C) Rs 1.5 D) Rs 1.6
 
Answer & Explanation Answer: B) Rs 1.33

Explanation:

Recall it is based on inverse proportion or product constancy concept.

 

 

 

     Reducion in price                      increase in amount

 

 

 

         25%     1/4                              1/3   33.33% = 4 oranges

 

 

 

It means original number of oranges = 4 x 3 = 12

 

 

 

original price of oranges = 16/12 = Rs. 1.33

Report Error

View Answer Report Error Discuss

Filed Under: Profit and Loss
Exam Prep: AIEEE , Bank Exams , CAT
Job Role: Analyst , Bank Clerk , Bank PO

185 32122