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:

A shopkeeper by selling 9 Rolex watches, earns a profit equal to the selling price of 4 Rolex watches. His profit percentage is

A) 44.4 percent B) 88.8 percent
C) 80 percent D) 8.8 percent
 
Answer & Explanation Answer: C) 80 percent

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4 2019
Q:

A merchant marks the price of his articles 20% above the cost price. If he allows 20% discount, then what is the profit or loss percentage?

A) 2% loss B) 4% profit
C) 4% loss D) No profit/loss
 
Answer & Explanation Answer: C) 4% loss

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1 2019
Q:

Selling price of an article is Rs 27692 and loss percentage is 14%. If the selling price is Rs 37352, then what will be the profit percentage?

A) 13.8 B) 18.6
C) 14 D) 16
 
Answer & Explanation Answer: D) 16

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4 2016
Q:

Yayati sold an item at a loss of 13%. If he had sold it for Rs. 49 more, he would have made a profit of 22%. What should be the selling price of the item to gain a profit of 30%?

A) Rs. 190 B) Rs. 187.75
C) Rs. 192.30 D) Rs. 182
 
Answer & Explanation Answer: D) Rs. 182

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2 2007
Q:

A sells a watch to B and makes a loss of 12%. B makes a profit of 12.5% by selling the watch to C. If A sells the watch to B at the cost of which C purchased it, then the percentage of loss or profit of A will be,

A) 1% loss B) 1% profit
C) 2% loss D) 2% profit
 
Answer & Explanation Answer: A) 1% loss

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5 2006
Q:

When a discount of 20% is given on a monthly train pass, the profit is 44%. If the discount is 29%, then the profit is _____.

A) 73 percent B) 118.2 percent
C) 17.4 percent D) 27.8 percent
 
Answer & Explanation Answer: D) 27.8 percent

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2 2006
Q:

The marked price of an article is 60% more than its cost price. If the article is sold for Rs 300 after offering a discount of Rs 20, then what will be the profit percentage?

A) 45 B) 50
C) 25 D) 45
 
Answer & Explanation Answer: B) 50

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4 2002
Q:

Raj purchased two laptops, first for Rs 42500 and the second for Rs 36200. He sold first laptop at a profit of 12% and the second laptop at a loss of 12%.What is the overall profit or loss?

A) Rs 756 profit B) Rs 756 loss
C) Rs 1512 profit D) Rs 1512 loss
 
Answer & Explanation Answer: A) Rs 756 profit

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2 1994