Sawaal

 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:

The percentage profit earned by selling an article for Rs. 1920 is equal to the percentage loss incurred by selling the same article for Rs. 1280. At what price should the article be sold to make 25% profit?

A) Rs. 2000 B) Rs. 2200
C) Rs. 2400 D) Data inadequate
 
Answer & Explanation Answer: A) Rs. 2000

Explanation:

Let C.P. be Rs. x.

 

Then,= >1920-xx*100=x-1280x*100

 

=>  1920 - x = x - 1280

 

=>  2x = 3200

 

=>  x = 1600

 

 Required S.P. = 125% of Rs. 1600 =Rs(125/100*1600) = Rs2000

Report Error

View Answer Report Error Discuss

Filed Under: Profit and Loss

318 49293
Q:

If the cost price is 25% of selling price. Then what is the profit percent.

A) 150% B) 200%
C) 300% D) 350%
 
Answer & Explanation Answer: C) 300%

Explanation:

Let the S.P = 100
then C.P. = 25

Profit = 75

Profit% = (75/25) * 100 = 300%

Report Error

View Answer Report Error Discuss

Filed Under: Profit and Loss

193 41016
Q:

Tarun got 30% concession on the labelled price of an article and sold it for Rs. 8750 with 25% profit on the price he bought. What was the labelled price ?

A) 10000 B) 12000
C) 13000 D) 14000
 
Answer & Explanation Answer: A) 10000

Explanation:

Cost Price = Rs.100125×8750 = Rs. 7000. Let the labelled price be Rs. x. 

 

Then, 70100*x=7000 ⇒x=Rs.7000*10070 

 

= Rs.10000

Report Error

View Answer Report Error Discuss

Filed Under: Profit and Loss

200 36235
Q:

A person incurs a loss of 5% be selling a watch for Rs. 1140. At what price should the watch be sold to earn 5% profit.

A) Rs.1200 B) Rs.1230
C) Rs.1260 D) Rs.1290
 
Answer & Explanation Answer: C) Rs.1260

Explanation:

Let the new S.P be x, then

(100 - loss%) : (1st S.P.) = (100 + gain%) : (2nd S.P.)

⇒951140=105x 

=> x = 1260

Report Error

View Answer Report Error Discuss

Filed Under: Profit and Loss

114 35306
Q:

A Shopkeeper sells two articles at Rs.1000 each, making a profit of 20% on the first article and a loss of 20% on the second article. Find the net Profit or loss that he makes? 

A) 4% B) 5%
C) 6% D) 8%
 
Answer & Explanation Answer: A) 4%

Explanation:

SP of first article = Rs.1000

 

Profit = 20%

 CP = SP x 100100+P% = Rs. 25003

SP of Second Article = Rs.1000

 Loss = 20%

 CP = SP x 100100-L% = Rs. 1250

 

So, Total SP = Rs.2000; Total CP = Rs.6250/3

 

As the CP is more than SP, he makes a loss.

 

Loss = CP - SP = (6250/3) - 2000 = Rs.(250/3)

 

So, Loss Percent = Lossx100/CP = 4%

 

 

Report Error

View Answer Report Error Discuss

Filed Under: Profit and Loss
Exam Prep: AIEEE , Bank Exams , CAT , GATE
Job Role: Bank Clerk , Bank PO

79 33284
Q:

A man buys oranges at Rs 5 a dozen and an equal number at Rs 4 a dozen. He sells them at Rs 5.50 a dozen and makes a profit of Rs 50. How many oranges does he buy?

A) 30 dozens B) 40 dozens
C) 50 dozens D) 60 dozens
 
Answer & Explanation Answer: C) 50 dozens

Explanation:

Cost Price of 2 dozen oranges Rs. (5 + 4) = Rs. 9.
Sell price of 2 dozen oranges = Rs. 11.
If profit is Rs 2, oranges bought = 2 dozen.
If profit is Rs. 50, oranges bought = (2/2) * 50 dozens = 50 dozens.

Report Error

View Answer Report Error Discuss

Filed Under: Profit and Loss

172 33037
Q:

What profit percent is made by selling an article at a certain price, if by selling at 2/3rd of that price, there would be a loss of 20%   ?

A) 30 % B) 25 %
C) 15 % D) 20 %
 
Answer & Explanation Answer: D) 20 %

Explanation:

SP2 = 2/3 SP1
CP = 100
SP2 = 80
2/3 SP1 = 80

SP1 = 120
100 --- 20   => 20%

Report Error

View Answer Report Error Discuss

Filed Under: Profit and Loss
Exam Prep: AIEEE , Bank Exams , CAT , GATE
Job Role: Bank Clerk , Bank PO

94 32517
Q:

Due to reduction of 25% in price of oranges a customer can purchase 4 oranges more for Rs. 16. what is original price of an orange?

A) Rs 1 B) Rs 1.33
C) Rs 1.5 D) Rs 1.6
 
Answer & Explanation Answer: B) Rs 1.33

Explanation:

Recall it is based on inverse proportion or product constancy concept.

 

 

 

     Reducion in price                      increase in amount

 

 

 

         25%     1/4                              1/3   33.33% = 4 oranges

 

 

 

It means original number of oranges = 4 x 3 = 12

 

 

 

original price of oranges = 16/12 = Rs. 1.33

Report Error

View Answer Report Error Discuss

Filed Under: Profit and Loss
Exam Prep: AIEEE , Bank Exams , CAT
Job Role: Analyst , Bank Clerk , Bank PO

185 32247