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:

At a village trade fair a man buys a horse and a camel together for Rs 51,250. He sold the horse at a profit of 25 % and the camel at a loss of 20 %. If he sold both the animals at the same price, then the cost price of the cheaper animal was Rs ____________.

A) 6600 B) 7500
C) 25000 D) 20000
 
Answer & Explanation Answer: D) 20000

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Q:

I gain 19% if I sell an article for Rs. 595. What would be my gain or loss percentage if I sell it for Rs. 475?

A) Gain 5% B) Loss 5%
C) Loss 10% D) Gain 10%
 
Answer & Explanation Answer: B) Loss 5%

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1 2726
Q:

By selling a bag at Rs. 230, profit of 15% is made. The selling price of the bag, when it is sold at 20% profit would be

A) Rs.250 B) Rs.205
C) Rs.240 D) Rs.200
 
Answer & Explanation Answer: C) Rs.240

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Q:

A person bought pens at 25 for a rupee and sold at 15 for a rupee. What is his profit percentage?

A) 16 2/3 B) 33 1/3
C) 40 D) 66.6
 
Answer & Explanation Answer: D) 66.6

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4 2714
Q:

A vendor buys chikoos at 15 for Rs 8 and then sells at 10 for Rs 6. What will be the result?

A) 12.5 percent loss B) 11.11 percent gain
C) 12.5 percent gain D) 11.1 percent loss
 
Answer & Explanation Answer: C) 12.5 percent gain

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4 2711
Q:

If a merchant offers a discount of 30% on the list price, then he makes a loss of 16%. What % profit or % loss will he make if he sells at a discount of 20% of the list price?

A) 14 percent profit B) 4 percent loss
C) 26 percent profit D) 8 percent profit
 
Answer & Explanation Answer: B) 4 percent loss

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Q:

A wholesaler sells a watch to a retailer at a profit of 8% and the retailer sells it to a customer at a profit of 12%. If the customer pays Rs. 8,448 what had it cost (approximately) to the wholesaler (in Rs)?

A) 6984 B) 6082
C) 7120 D) 7022
 
Answer & Explanation Answer: A) 6984

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4 2675
Q:

A shopkeeper, sold almonds at the rate Rs 1250 per kg and bears a loss of 7%. Now if he decides to sell it at Rs 1375 per kg, what will be the result?

A) 4.6 percent gain B) 2.3 percent loss
C) 2.3 percent gain D) 4.6 percent loss
 
Answer & Explanation Answer: C) 2.3 percent gain

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