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Quantitative Aptitude - Arithmetic Ability/
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

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

The difference between cost price and selling price is Rs 494. If loss percentage is 19%, then what is the selling price (in Rs)?

A) 2106	B) 2600
C) 3094	D) 2208

A) 2106

B) 2600

C) 3094

D) 2208

Answer & Explanation Answer: A) 2106

Explanation:

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2 1749

A and B invest Rs. 3000 and Rs. 2400 respectively in a business. If after one year there is a loss of Rs. 720, how much loss will B bear? (Loss or Profit is in proportion to their investments)

A) Rs. 72	B) Rs. 320
C) Rs..400	D) Rs. 360

A) Rs. 72

B) Rs. 320

C) Rs..400

D) Rs. 360

Answer & Explanation Answer: B) Rs. 320

Explanation:

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2 1748

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

A) Rs 13100

B) Rs 18375

C) Rs 13650

D) Rs 16850

Answer & Explanation Answer: C) Rs 13650

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3 1725

If the selling price is doubled, the profit triples. The profit percent is

A) 66.6%	B) 150%
C) 100%	D) 190%

A) 66.6%

B) 150%

C) 100%

D) 190%

Answer & Explanation Answer: C) 100%

Explanation:

Let CP be x and SP be y.

3(y –x) = (2y –x)y = 2x

Profit = y –x = 2x –x = x

Profit% = x/x X 100 = 100%

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2 1723

Ramesh sold a book at a loss of 30%. If he had sold it for Rs. 140 more, he would have made a profit of 40%. The cost price of the book is

A) Rs. 280	B) Rs. 200
C) Rs. 260	D) Rs. 300

A) Rs. 280

B) Rs. 200

C) Rs. 260

D) Rs. 300

Answer & Explanation Answer: B) Rs. 200

Explanation:

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1 1722

The difference between cost price and selling price is Rs 12.54. If loss percentage is 33%, then what is the cost price (in Rs)?

A) 35.44	B) 50.54
C) 41	D) 38

A) 35.44

B) 50.54

C) 41

D) 38

Answer & Explanation Answer: D) 38

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0 1714

Puneet purchases 5 dozens of oranges at the rate of Rs 120 per dozen. He sold each one of them at the rate of Rs 11.5. What is the profit (inpercentage) of Puneet?

A) 18	B) 30
C) 12	D) 15

A) 18

B) 30

C) 12

D) 15

Answer & Explanation Answer: D) 15

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1 1710

A shopkeeper, sold dried apricots at the rate Rs 1,310 a kg and bears a loss of 13%. Now if he decides to sell it at Rs 1,441 per kg, what will be the result?