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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:

The cost price of 60 articles is same as the selling price of x articles. If there is a profit of 20%, then what is the value of x?

A) 15 B) 30
C) 50 D) 80
 
Answer & Explanation Answer: C) 50

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10 1595
Q:

By selling a used phone for Rs.7260 Sanjan got 34% less than what it cost him to buy it a few years ago.At what price should Sanjan have sold the phone to gain a profit of 5%?

A) ₹ 11,460 B) ₹ 11,480
C) ₹ 11,440 D) None
 
Answer & Explanation Answer: D) None

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2 1587
Q:

A shopkeeper by selling 17 Omega watches, earns a profit equal to the selling price of 7 Omega watches. What is his profit percentage?

A) 41.1 percent B) 82.2 percent
C) 70 percent D) 12.2 percent
 
Answer & Explanation Answer: C) 70 percent

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1 1575
Q:

A man gains 15% by selling a calculator for a certain price. If he sells it at the triple the price, then what will be the profit percentage?

A) 125 B) 175
C) 225 D) 245
 
Answer & Explanation Answer: D) 245

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5 1575
Q:

Raheem sells a machine for Rs 48 lakhs at a loss. Had he sold it for Rs 60 lakh, his gain would have been 5 times the former loss. Find the cost price of the machine.

A) Rs 58 lakhs B) Rs 69.6 lakhs
C) Rs 42 lakhs D) Rs 50 lakhs
 
Answer & Explanation Answer: D) Rs 50 lakhs

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3 1573
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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3 1570
Q:

A vendor buys bananas at 9 for Rs 8 and sells at 8 for Rs 9. What will be the profit or loss (in %)?

A) 13.28% profit B) 26.56% loss
C) 26.56% profit D) 13.28% loss
 
Answer & Explanation Answer: C) 26.56% profit

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3 1561
Q:

A shopkeeper wants to earn 33% profit on an article after offering 30% discount. By how much percentage more he should mark the price of his article above cost price?

A) 90 B) 63
C) 69 D) 72
 
Answer & Explanation Answer: A) 90

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6 1550