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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 trader had 6 quintals of wheat. He sold a part of it at 7% profit and the rest at 17% profit, so that he made a total profit of 11%. How much wheat did he sell at 17% profit?

A) 360 kg B) 240 kg
C) 120 kg D) 480 kg
 
Answer & Explanation Answer: B) 240 kg

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1 1411
Q:

On a certain item profit is 150%. If the cost price increases by 25% what will be the new profit margin (in %)?

A) 25 B) 50
C) 100 D) 75
 
Answer & Explanation Answer: C) 100

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0 1405
Q:

When a discount of 20% is given on a jacket, the profit is 28%. If the discount is 13%, then the profit is

A) 39.2 percent B) 41 percent
C) 42.8 percent D) 37.4 percent
 
Answer & Explanation Answer: A) 39.2 percent

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9 1399
Q:

The cost price of 25 books is equal to the selling price of 20 books. The profit percent is

A) 20% B) 22%
C) 24% D) 25%
 
Answer & Explanation Answer: D) 25%

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3 1396
Q:

On a certain item profit is 120%. If the cost price increases by 10% then what will be the new profit margin (in %) if selling price remains the same?

A) 50 B) 60
C) 100 D) 90
 
Answer & Explanation Answer: C) 100

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5 1395
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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1 1393
Q:

Price of a diamond is directly proportional to square of its weight. A man broke the diamond accidently in three pieces in the ratio of 3 : 5 : 7 and thus loses Rs 42600. What was the original price (in Rs) of the diamond?

A) 11786 B) 60000
C) 67500 D) 75000
 
Answer & Explanation Answer: C) 67500

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4 1389
Q:

A dishonest dealer professes to sell his goods at cost price but uses a weight of 875 gms for the kilogram weight. His gain in percentage is

A) 17% B) 14 5/7%
C) 14 2/7% D) 14%
 
Answer & Explanation Answer: C) 14 2/7%

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