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:

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  

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Profit and Loss
Exam Prep: Bank Exams

1 2619
Q:

Rajesh sells a machine for Rs 57 lakhs at a loss. Had he sold it for Rs 67 lakh, his gain would have been 7 times the former loss. Find the cost price of the machine.

A) Rs 58.25 lakhs B) Rs 65.75 lakhs
C) Rs 75.14 lakhs D) Rs 50.75 lakhs
 
Answer & Explanation Answer: A) Rs 58.25 lakhs

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Profit and Loss
Exam Prep: Bank Exams

2 2609
Q:

A trader had 22 quintals of wheat. He sold a part of it at 23% profit and the rest at 33% profit, so that he made a total profit of 27%. How much wheat did he sell at 33% profit?

A) 1320 kg B) 440 kg
C) 880 kg D) 1760 kg
 
Answer & Explanation Answer: C) 880 kg

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Profit and Loss
Exam Prep: Bank Exams

7 2608
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

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Profit and Loss
Exam Prep: Bank Exams

1 2606
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

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Profit and Loss
Exam Prep: Bank Exams

3 2603
Q:

A wholesaler sold a water purifier at a loss of 40%. If the selling price has been increased by Rs. 125, then wholesaler will get the profit of 10%. What was the cost price of the purifier?

A) Rs. 250 B) Rs. 225
C) Rs. 275 D) Rs. 300
 
Answer & Explanation Answer: B) Rs. 225

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Profit and Loss
Exam Prep: Bank Exams

5 2591
Q:

A wholesaler sells a watch to a retailer at a gain of 37% and the retailer sells it to a customer at a loss of 25%. If the customer pays Rs 2,620.125, what had it cost the wholesaler?

A) Rs 2550 B) Rs 2692
C) Rs 3327 D) Rs 2408
 
Answer & Explanation Answer: A) Rs 2550

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Profit and Loss
Exam Prep: Bank Exams

3 2589
Q:

A rice trader buys 16 quintals of rice for Rs 5632. 20% rice is lost in transportation. At what rate should he sell to earn 25% profit?

A) Rs 225.2 per quintal B) Rs 550 per quintal
C) Rs 440 per quintal D) Rs 563.2 per quintal
 
Answer & Explanation Answer: B) Rs 550 per quintal

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Profit and Loss
Exam Prep: Bank Exams

5 2584