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:

A wholesaler sold a water purifier at a loss of 40%. If the selling price has been increased by Rs. 125, then wholesaler will get the profit of 10%. What was the cost price of the purifier?

A) Rs. 250 B) Rs. 225
C) Rs. 275 D) Rs. 300
 
Answer & Explanation Answer: B) Rs. 225

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Profit and Loss
Exam Prep: Bank Exams

5 1926
Q:

By selling cloth at Rs. 9 per metre , a shopkeeper loses 10% . Find the rate at which it should be sold so as to earn profit of 15%

A) Rs.11.20 B) Rs.11.30
C) Rs.11.40 D) Rs.11.50
 
Answer & Explanation Answer: D) Rs.11.50

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Profit and Loss
Exam Prep: Bank Exams

0 1919
Q:

A shopkeeper purchased 10 boxes of pencils containing 10 pencils each at Rs. 100 per box and sold each pencil at a profit 12%. What is the total sale price?

A) Rs.1100 B) Rs.1120
C) Rs.1200 D) Rs.1210
 
Answer & Explanation Answer: B) Rs.1120

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Profit and Loss
Exam Prep: Bank Exams

3 1919
Q:

If a merchant offers a discount of 10% on the list price, then she makes a loss of 25%. What % profit or % loss will she make if she sells at a discount of 20% of the list price?

A) 5 percent profit B) 33.33 percent loss
C) 90 percent profit D) 20 percent profit
 
Answer & Explanation Answer: B) 33.33 percent loss

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Profit and Loss
Exam Prep: Bank Exams

1 1914
Q:

A trader had 630 kgs of rice. He sold a part of it at 15% profit and the rest at 8% profit, so that he made a total profit of 12%. How much rice (in kgs) did he sell at 8% profit?

A) 270 B) 300
C) 280 D) 290
 
Answer & Explanation Answer: A) 270

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Profit and Loss
Exam Prep: Bank Exams

0 1914
Q:

The marked price of a chair is 40% more than its cost price. If the chair is sold for Rs 520 after a discount of Rs 40, then what will be the profit percentage?

A) 33 B) 40
C) 25 D) 30
 
Answer & Explanation Answer: D) 30

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Profit and Loss
Exam Prep: Bank Exams

8 1911
Q:

When a discount of 20% is given on a sweater, the profit is 28%. If the discount is 14%, then the profit is

A) 42 percent B) 46.4 percent
C) 33.2 percent D) 37.6 percent
 
Answer & Explanation Answer: D) 37.6 percent

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Profit and Loss
Exam Prep: Bank Exams

3 1910
Q:

A vendor sells a coconut at Rs 24 and suffers 24% loss. If he wants to make 14% profit, then at what price (in Rs) should he sell?

A) 32 B) 30
C) 36 D) 28
 
Answer & Explanation Answer: C) 36

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Profit and Loss
Exam Prep: Bank Exams

3 1907