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:

If A purchase 9 chairs for Rs 5 and sells all the chairs at the rate of 5 chairs for Rs 9, then what will be the profit percentage?

 

 

A) 212   B) 224
C) 248   D) 194  
 
Answer & Explanation Answer: B) 224

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Q:

A wholesaler purchased 7 hair clips for a rupee. How many for a rupee must he sell to get profit of 40%.

 

A) 6 B) 5
C) 4 D) 3
 
Answer & Explanation Answer: B) 5

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Q:

The marked price of a shirt is Rs 1800 and retailer gets a discount of 40%. If he sells that shirt for Rs 1800, then what is the profit percentage of retailer?

 

A) 40 B) 66.66
C) 37.5 D) 62.5
 
Answer & Explanation Answer: B) 66.66

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Q:

A shopkeeper cheats to the extent of 8% while buying and selling fruits, by using tampered weights, his total gain in percentage is

A) 16.25 B) 16.44
C) 16.75 D) 16.5
 
Answer & Explanation Answer: B) 16.44

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Q:

Mr. Akbar sold a bus for Rs.20,400 with a loss of 15%. At what price should the price should the bus be sold to get a profit of 15%?

A) Rs.27,400 B) Rs.27,300
C) Rs.27,500 D) Rs.27,600
 
Answer & Explanation Answer: D) Rs.27,600

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Q:

D sells a table to E at a profit of 30% and E sells it to F at a loss of 30%. What is the ratio of cost prices of D and F?

 

A) 100:91   B)  100:130  
C)  100:126   D) 1:1
 
Answer & Explanation Answer: A) 100:91  

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Q:

A shopkeeper purchased 10 boxes of pencils containing 10 pencils each at Rs. 100 per box and sold each pencil at a profit 12%. What is the total sale price?

A) Rs.1100 B) Rs.1120
C) Rs.1200 D) Rs.1210
 
Answer & Explanation Answer: B) Rs.1120

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Q:

If the selling price of an article is doubled, then its loss percentage gets converted into the equal profit percentage. What is the loss percentage?

 

A) 16.66   B) 50
C) 33.33   D) 37.5
 
Answer & Explanation Answer: C) 33.33  

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