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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:

70% of the cost price of a article is equal to the 40% of its selling price. What is the profit or loss percentage?

A) 63% loss B) 70% loss
C) 75% profit D) 80% profit
 
Answer & Explanation Answer: C) 75% profit

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Q:

A trader had 630 kgs of rice. He sold a part of it at 15% profit and the rest at 8% profit, so that he made a total profit of 12%. How much rice (in kgs) did he sell at 8% profit?

A) 270 B) 300
C) 280 D) 290
 
Answer & Explanation Answer: A) 270

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Q:

Mohit buys an old bicycle for Rs 2700 and spends Rs 500 on its repairs. If he sells the bicycle for Rs 3520, then what is his profit percentage?

A) 10 B) 12.5
C) 15 D) 20
 
Answer & Explanation Answer: A) 10

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Q:

Manik marks the price of his toys 40% above the cost price. If he allows 20% discount, then what is the profit or loss percentage?

A) 4% profit B) 12% profit  
C) 8% loss D) 12% loss
 
Answer & Explanation Answer: B) 12% profit  

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Q:

A trader had 16 quintals of wheat. He sold a part of it at 17% profit and the rest at 27% profit, so that he made a total profit of 21%. How much wheat did he sell at 27% profit?

A) 960 kg B) 640 kg
C) 320 kg D) 1280 kg
 
Answer & Explanation Answer: B) 640 kg

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Q:

If a saree is sold for Rs 1900 the seller will face 5% loss, at what price (in Rs) should he sell the saree to gain 15% profit?

A) 2200 B) 2400
C) 2500 D) 2300
 
Answer & Explanation Answer: D) 2300

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Q:

If a merchant offers a discount of 10% on the list price, then she makes a loss of 25%. What % profit or % loss will she make if she sells at a discount of 20% of the list price?

A) 5 percent profit B) 33.33 percent loss
C) 90 percent profit D) 20 percent profit
 
Answer & Explanation Answer: B) 33.33 percent loss

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Q:

The selling price of 6 bananas is equal to the cost price of 8 bananas. Then the percentage of profit is

A) 20 B) 33 1/3
C) 25 D) 30
 
Answer & Explanation Answer: B) 33 1/3

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