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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:

Mr. Kapur purchased two toy cycles for Rs 750 each. He sold these cycles, gaining 6% on one and losing 4% on the other. The gain or loss percent in the whole transaction is

A) 1% loss B) 1% gain
C) 1.5% loss D) 1.5 gain
 
Answer & Explanation Answer: B) 1% gain

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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

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Q:

The total cost of a microwave oven with mixer was Rs 36750. The mixer was sold at a profit of 32% and the microwave oven at a loss of 22%. If the sale price was the same in both the items, then the cost price of the cheaper item was _____.

A) Rs 13100 B) Rs 18375
C) Rs 13650 D) Rs 16850
 
Answer & Explanation Answer: C) Rs 13650

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Q:

The marked price of an article is 60% more than its cost price. If the article is sold for Rs 300 after offering a discount of Rs 20, then what will be the profit percentage?

A) 45 B) 50
C) 25 D) 45
 
Answer & Explanation Answer: B) 50

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Q:

On selling 30 caps, a shopkeeper earns profit equal to the selling price of 3 caps. What is the profit percentage?

A) 12.5 B) 11.11
C) 10 D) 14.28
 
Answer & Explanation Answer: B) 11.11

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Q:

Raj purchased two laptops, first for Rs 42500 and the second for Rs 36200. He sold first laptop at a profit of 12% and the second laptop at a loss of 12%.What is the overall profit or loss?

A) Rs 756 profit B) Rs 756 loss
C) Rs 1512 profit D) Rs 1512 loss
 
Answer & Explanation Answer: A) Rs 756 profit

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Q:

The marked price of a helmet is 30% more than its cost price. If the helmet is sold for Rs 744 after a discount of Rs 36, then what will be the profit percentage?

A) 24 B) 18
C) 21 D) 27
 
Answer & Explanation Answer: A) 24

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Q:

If a person has sold an article for Rs. 1300 and made a profit of 30%, find the cost price of the article.

A) Rs. 1000 B) Rs. 1200
C) Rs. 1250 D) Rs. 1100
 
Answer & Explanation Answer: A) Rs. 1000

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