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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:

Selling price of an article is Rs 1144. If loss percentage is 12%, then what is the cost price (in Rs) of article?

A) 1300 B) 1006
C) 1242 D) 1440
 
Answer & Explanation Answer: A) 1300

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Q:

If Mohan purchase 13 articles for Rs 12 and sells all the articles at the rate of 12 articles for Rs 13, then what will be the profit percentage?

A) 19.47 B) 17.36
C) 11.11 D) 12.5
 
Answer & Explanation Answer: B) 17.36

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3 1260
Q:

Oil equal to 20% of the weight of ground nut is extracted in a mill. The matter left after extraction is sold as cattle feed at the rate of Rs 12.5/kg. The groundnuts are bought at Rs 20/kg. The processing cost is Rs 5/kg. At what price (Rs per kg) should the oil be sold to earn 20% profit on total costs (Total cost = Cost of groundnuts and Processing costs)?

A) 250 B) 150
C) 200 D) 100
 
Answer & Explanation Answer: D) 100

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0 1250
Q:

Loss of 20% on selling price is equal to x% loss in cost price. What is x?

A) 20% B) 20
C) 16 2/3% D) 16
 
Answer & Explanation Answer: C) 16 2/3%

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4 1249
Q:

A trader had 22 quintals of wheat. He sold a part of it at 23% profit and the rest at 33% profit, so that he made a total profit of 27%. How much wheat did he sell at 33% profit?

A) 1320 kg B) 440 kg
C) 880 kg D) 1760 kg
 
Answer & Explanation Answer: C) 880 kg

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7 1244
Q:

Rajan sells a machine for Rs 52 lakhs at a loss. Had he sold it for Rs 62 lakh, his gain would have been 9 times the former loss. What is the cost price of the machine?

A) Rs 61 lakhs B) Rs 53 lakhs
C) Rs 67.77 lakhs D) Rs 45 lakhs
 
Answer & Explanation Answer: B) Rs 53 lakhs

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0 1243
Q:

A vendor buys oranges at the rate of 5 for Rs 6 and sells at the rate of 2 for Rs 3. What will be the result?

A) 25 percent loss B) 25 percent gain
C) 20 percent gain D) 20 percent loss
 
Answer & Explanation Answer: B) 25 percent gain

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3 1234
Q:

If the ratio of the cost price and the selling price of an article be 4:5, then the percentage of profit is:

A) 27.5 B) 25
C) 15 D) 10
 
Answer & Explanation Answer: B) 25

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