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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 shopkeeper offers 2.5% discount on cash purchases . What cash amount would Rohit pay for a cycle , the marked price of which is Rs.3600 ?

A) Rs. 3490 B) Rs. 3500
C) Rs. 3510 D) Rs. 3520
 
Answer & Explanation Answer: C) Rs. 3510

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Q:

The ratio of the cost price and selling price of a bulb is 15 : 18. What is the profit percentage?

A) 16.66 B) 14.28
C) 20 D) 22
 
Answer & Explanation Answer: C) 20

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1 2319
Q:

If a merchant offers a discount of 20% on the list price, then he makes a loss of 10%. What % profit or % loss will she make if he sells at a discount of 5% of the list price?

A) 6.875 percent profit B) 20 percent profit
C) 14 percent profit D) 30 percent loss
 
Answer & Explanation Answer: A) 6.875 percent profit

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Q:

If the rice is sold at Rs 56 per kg, there would be a 40% loss. To earn a profit of 20% what should be the price of rice (per kg)?

A) 112 B) 108
C) 116 D) 124
 
Answer & Explanation Answer: A) 112

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Q:

The marked price of a pencil is 35% more than its cost price. What maximum discount percentage can be offered by the shopkeeper to sell his pencil at no profit or no loss?

 

 

A) 34.24   B) 44.44  
C) 25.92   D) 18.18
 
Answer & Explanation Answer: C) 25.92  

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Q:

A grocer had 1600 kgs of wheat. He sold a part of it at 20% profit and the rest at 12% profit, so that he made a total profit of 17%. How much wheat (in kg) did he sell at 20% profit?

A) 600 B) 1000
C) 800 D) 1200
 
Answer & Explanation Answer: B) 1000

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Q:

The marked price of an article is 20% more than its cost price. If 5% discount is given on the marked price, then what is the profit percentage?

A) 5 B) 14
C) 15 D) 25
 
Answer & Explanation Answer: B) 14

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Q:

A shopkeeper cheats to the extent of 11% while buying and selling fruits, by using tampered weights. His total gain in percentage is

A) 23.25 B) 23.21
C) 23.75 D) 23.5
 
Answer & Explanation Answer: B) 23.21

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