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 the profit is 20%, then what will be the ratio of cost price to selling price respectively?

A) 4 : 5 B) 5 : 6
C) 2 : 5 D) 3 : 4
 
Answer & Explanation Answer: B) 5 : 6

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3 1865
Q:

The total cost of a stove with cooker was Rs 13,125. The cooker was sold at a profit of 30% and the stove at a loss of 20%. If the sale price was the same in both the items, then the cost price of the cheaper item was

A) Rs 8125 B) Rs 5000
C) Rs 6562.5 D) Rs 6175
 
Answer & Explanation Answer: B) Rs 5000

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2 1865
Q:

If a vendor sells apples at Rs 170 per kg he suffers 15% loss. If he sells at Rs 230 per kg, then what is his profit percentage?

A) 15 B) 10
C) 5 D) 20
 
Answer & Explanation Answer: A) 15

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5 1863
Q:

A wholesaler sells a watch to a retailer at a gain of 20% and the retailer sells it to a customer at a loss of 10%. If the customer pays Rs 874.8, what had it cost the wholesaler?

A) Rs 945 B) Rs 810
C) Rs 994 D) Rs 675
 
Answer & Explanation Answer: B) Rs 810

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1 1863
Q:

If a merchant offers a discount of 25% on the list price, then he makes a loss of 5%. What % profit or % loss will he make if he sells at a discount of 10% of the list price?

A) 5.5 percent loss B) 14 percent profit
C) 50 percent profit D) 26 percent loss
 
Answer & Explanation Answer: B) 14 percent profit

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3 1850
Q:

The line passing through point (-3,1) and point (x,5) is parallel to the line passing through point (-2,-1) and point (6,3). What is the value of x?

A) -5 B) -2
C) 2 D) 5
 
Answer & Explanation Answer: D) 5

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0 1841
Q:

Selling price of a calculator is Rs 13924 and profit percentage is 18%. If selling price is Rs 10266, then what will be the loss percentage?

A) 17.2 B) 13
C) 14.9 D) 11
 
Answer & Explanation Answer: B) 13

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1 1841
Q:

Mukesh sells two shirts. The cost price of the first shirt is equal to the selling price of the second shirt. The first shirt is sold at a profit of 30% and the second shirt is sold at a loss of 30%. What is the ratio of the selling price of the first shirt to the cost price of the second shirt?

A) 91 : 100 B) 100 : 91
C) 31 : 50 D) 50 : 31
 
Answer & Explanation Answer: A) 91 : 100

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7 1823