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:

If selling price of 39 articles is equal to the cost price of 42 articles, then what will be the profit percentage?

 

A) 8.33 B) 7.69
C)  9.09 D) 11.33
 
Answer & Explanation Answer: B) 7.69

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Profit and Loss
Exam Prep: Bank Exams

4 1961
Q:

A shopkeeper cheats to the extent of 11% while buying and selling fruits, by using tampered weights. His total gain in percentage is

A) 23.25 B) 23.21
C) 23.75 D) 23.5
 
Answer & Explanation Answer: B) 23.21

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Profit and Loss
Exam Prep: Bank Exams

1 1960
Q:

The shopkeepers announce the same price of Rs. 700 for a sewing machine. The first offers successive discounts of 30% and 6% while the second offers successive discounts of 20% and 16%. The difference in their selling price is

A) Rs. 9.8 B) Rs. 16.8
C) Rs. 22.4 D) Rs. 36.4
 
Answer & Explanation Answer: A) Rs. 9.8

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Profit and Loss
Exam Prep: Bank Exams

1 1954
Q:

The ratio of selling price to the cost price is 13 : 17. What is the loss percentage?

A) 23.52 B) 27.74
C) 18.62 D) 19.45
 
Answer & Explanation Answer: A) 23.52

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Profit and Loss
Exam Prep: Bank Exams

1 1951
Q:

A shopkeeper, sold dried apricots at the rate Rs 1210 a kg and bears a loss of 12%. Now if he decides to sell it at Rs 1331 per kg, what will be the result?

A) 6.4 percent loss B) 3.2 percent gain
C) 6.4 percent gain D) 3.2 percent loss
 
Answer & Explanation Answer: D) 3.2 percent loss

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Profit and Loss
Exam Prep: Bank Exams

5 1943
Q:

A miner sells a diamond to a trader at a profit of 40% and the trader sells it to a customer at a profit of 25%. If the customer pays Rs 56 lakhs to buy the diamond, what had it cost the miner (in Rs lakhs)?

A) 30 B) 28
C) 25 D) 32
 
Answer & Explanation Answer: D) 32

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Profit and Loss
Exam Prep: Bank Exams

3 1938
Q:

A wholesaler sells a good to a retailer at a profit of 5% and the retailer sells it to a customer at a profit of 10%. If the customer pays Rs. 2,000, what had it cost (in Rs) the wholesaler?

A) 1731.6 B) 3210.6
C) 1931.6 D) 2310.6
 
Answer & Explanation Answer: A) 1731.6

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Profit and Loss
Exam Prep: Bank Exams

2 1936
Q:

A wholesaler sells a watch to a retailer at a profit of 33% and the retailer sells it to a customer at a loss of 20%. If the customer pays Rs 2,181.2, what had it cost the wholesaler?

A) Rs 2050 B) Rs 2320
C) Rs 2712 D) Rs 1780
 
Answer & Explanation Answer: A) Rs 2050

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Profit and Loss
Exam Prep: Bank Exams

4 1936