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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:

A wholesaler sells a jacket to a retailer at a profit of 5% and the retailer sells it to a customer at a profit of 10%. If the customer pays Rs. 4158, what had it cost (in Rs) to the wholesaler?

A) 3500 B) 3400
C) 3300 D) 3600
 
Answer & Explanation Answer: D) 3600

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3 2178
Q:

A man bought 25 crates of oranges for Rs. 10,000. He lost 5 crates. In order to earn a total profit of 25% of the total cost, he would have to sell each of the remaining crates at

A) Rs.650 B) Rs. 625
C) Rs. 600 D) Rs. 575
 
Answer & Explanation Answer: B) Rs. 625

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2 2177
Q:

Cost price of a calculator is Rs 495. If the profit percentage is 40%, then what is the value (in Rs) of profit?

A) 226 B) 198
C) 186 D) 218
 
Answer & Explanation Answer: B) 198

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3 2162
Q:

Mr. Rajesh buys a toy for Rs. 27.50 and sells it for Rs. 28.60. Find the gain %.

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

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1 2160
Q:

A wholesaler sells a watch to a retailer at a profit of 33% and the retailer sells it to a customer at a loss of 20%. If the customer pays Rs 2,181.2, what had it cost the wholesaler?

A) Rs 2050 B) Rs 2320
C) Rs 2712 D) Rs 1780
 
Answer & Explanation Answer: A) Rs 2050

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Q:

A dishonest shopkeeper professes to sell goods at his cost price but uses a false weight of 950 gms, for each kilogram. His gain percentage is

A) 100/23% B) 100/19%
C) 100/17% D) 100/21%
 
Answer & Explanation Answer: B) 100/19%

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2 2133
Q:

The marked price of a trouser is twice of the cost price. To earn 36% profit, what should be the value of discount (in percentage)?

 

A)  33 B)  32
C)  34 D)  36
 
Answer & Explanation Answer: B)  32

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Q:

Selling price of an article is Rs 1144. If loss percentage is 12%, then what is the cost price (in Rs) of article?

A) 1300 B) 1006
C) 1242 D) 1440
 
Answer & Explanation Answer: A) 1300

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