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Profit and Loss

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 = $(\frac{P r o f i t}{C . P} \times 100)$

2. Loss percentage = $(\frac{L o s s}{C . P} \times 100)$

3. $S . P = [\frac{100 + G a i n %}{100} \times C . P] = [\frac{100 - L o s s %}{100} \times C . P]$

4. $C . P = [\frac{100}{100 + G a i n %} \times S . P] = [\frac{100}{100 - L o s s %} \times S . P]$

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 : $L o s s % = (\frac{C o m m o n L o s s a n d G a i n %}{10})^{2} = {(\frac{x}{10})}^{2}$

8. If a trader Professes to sell his goods at cost price, but uses false weihts, then

$G a i n % = [\frac{E r r o r}{T r u e V a l u e - E r r o r} \times 100] %$

When a discount of 20% is given on a monthly train pass, the profit is 44%. If the discount is 29%, then the profit is _____.

A) 73 percent	B) 118.2 percent
C) 17.4 percent	D) 27.8 percent

A) 73 percent

B) 118.2 percent

C) 17.4 percent

D) 27.8 percent

Answer & Explanation Answer: D) 27.8 percent

Explanation:

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2 1817

Selling price of an article is Rs 27692 and loss percentage is 14%. If the selling price is Rs 37352, then what will be the profit percentage?

A) 13.8	B) 18.6
C) 14	D) 16

A) 13.8

B) 18.6

C) 14

D) 16

Answer & Explanation Answer: D) 16

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4 1811

Raghunandan sells a machine for Rs 45 lakhs at a loss. Had he sold it for Rs 55 lakh, his gain would have been 9 times the former loss. Find the cost price of the machine.

A) Rs 54 lakhs	B) Rs 46 lakhs
C) Rs 60 lakhs	D) Rs 38 lakhs

A) Rs 54 lakhs

B) Rs 46 lakhs

C) Rs 60 lakhs

D) Rs 38 lakhs

Answer & Explanation Answer: B) Rs 46 lakhs

Explanation:

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3 1808

A shopkeeper marks the price of his table 30% above the cost price. He allows his customers a discount of 12% on the marked price. What is the profit percentage?

A) 14.4	B) 18
C) 16.66	D) 12.5

A) 14.4

B) 18

C) 16.66

D) 12.5

Answer & Explanation Answer: A) 14.4

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0 1808

A merchant marks the price of his articles 20% above the cost price. If he allows 20% discount, then what is the profit or loss percentage?

A) 2% loss	B) 4% profit
C) 4% loss	D) No profit/loss

A) 2% loss

B) 4% profit

C) 4% loss

D) No profit/loss

Answer & Explanation Answer: C) 4% loss

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1 1799

Deepak sells all his goods available in his shop at the cost price, but he cheats his customer and gives 20% less goods as he should give. Find his % profit.

A) 30%	B) 33%
C) 25%	D) 20%

A) 30%

B) 33%

C) 25%

D) 20%

Answer & Explanation Answer: C) 25%

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6 1799

A shopkeeper by selling 9 Rolex watches, earns a profit equal to the selling price of 4 Rolex watches. His profit percentage is

A) 44.4 percent	B) 88.8 percent
C) 80 percent	D) 8.8 percent

A) 44.4 percent

B) 88.8 percent

C) 80 percent

D) 8.8 percent

Answer & Explanation Answer: C) 80 percent

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4 1798

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?