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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 had 200 dozens of mangoes. He sold some of these mangoes at 20% profit and the rest at 10% profit, so that he made 13% profit on selling all the mangoes. How many mangoes (in dozens) did he sell at 20% profit?

A) 140 B) 60
C) 80 D) 120
 
Answer & Explanation Answer: B) 60

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Q:

The marked price of an article is 40% more than its cost price. If 15% discount is given on the marked price, then what will be the profit percentage?

A) 25 B) 15
C) 21 D) 19
 
Answer & Explanation Answer: D) 19

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Q:

If the ratio of the cost price and the selling price of an article be 4:5, then the percentage of profit is:

A) 27.5 B) 25
C) 15 D) 10
 
Answer & Explanation Answer: B) 25

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Q:

A store sells a watch for a profit of 25% of the cost. Then the percentage of profit against selling price is

A) 22% B) 20%
C) 18% D) 15%
 
Answer & Explanation Answer: B) 20%

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Q:

A shopkeeper, sold cashew nuts at the rate Rs 1,260 a kg and bears a loss of 8%. Now if he decides to sell it at Rs 1,386 per kg, what will be the result?

A) 1.2 percent gain B) 2.4 percent gain
C) 1.2 percent loss D) 2.4 percent loss
 
Answer & Explanation Answer: A) 1.2 percent gain

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Q:

A shopkeeper, sold cocoa seeds at the rate Rs 1,230 a kg and bears a loss of 5%. Now if he decides to sell it at Rs 1,353 per kg, what will be the result?

A) 4.5 percent gain B) 9 percent gain
C) 4.5 percent loss D) 9 percent loss
 
Answer & Explanation Answer: A) 4.5 percent gain

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Q:

The difference between the selling prices of an article sold at 4% and 3% profits is Rs.3 The cost price of the article is :

A) Rs. 400 B) Rs. 350
C) Rs. 300 D) Rs. 100
 
Answer & Explanation Answer: C) Rs. 300

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Q:

A home theatre set is Rs. 4950. If two successive discounts of 20% and 15% are given, then its selling price is

A) Rs.3366 B)  Rs.6633
C)  Rs.3636 D) Rs.6363
 
Answer & Explanation Answer: A) Rs.3366

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