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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:

Yaman sold an item at a loss of 10%. If he had sold it for Rs.57 more, he would have made a profit of 20%. What should be the selling price of the item to make a profit of 30%?

A) Rs.247 B) Rs.190
C) Rs.228 D) Rs.222.30
 
Answer & Explanation Answer: A) Rs.247

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Q:

Raghavendra sells a machine for Rs 43 lakhs at a loss. Had he sold it for Rs 52 lakh, his gain would have been 5 times the former loss. Find the cost price of the machine.

A) Rs 50.5 lakhs B) Rs 60.6 lakhs
C) Rs 44.5 lakhs D) Rs 38.5 lakhs
 
Answer & Explanation Answer: C) Rs 44.5 lakhs

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Q:

The ratio of cost price and selling price 25:26. The percent of profit will be

A) 26% B) 25%
C) 1% D) 4%
 
Answer & Explanation Answer: D) 4%

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Q:

A person bought an item for Rs. 1500 and sold it at a profit of 12%. What was the selling price of the item?

A) Rs. 1800 B) Rs. 1620
C) Rs. 1662 D) Rs. 1680
 
Answer & Explanation Answer: D) Rs. 1680

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Q:

A shopkeeper increases the price of an object by 40% and then sells it at 25% discount on the marked price. If the selling price of such an object be Rs. 2100, its cost price for the shopkeeper was ?

A) 3000 B) 1500
C) 1750 D) 2000
 
Answer & Explanation Answer: D) 2000

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Q:

A table was sold at a profit of 10%. If its cost price was 5% less and it was sold for Rs. 7 more, the gain would have been 20%. Find the cost price of the table.

A) Rs. 175 B) Rs. 200
C) Rs. 250 D) Rs. 150
 
Answer & Explanation Answer: A) Rs. 175

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Q:

A satellite airtime bill costs Rs. 8 for 5 minutes 40 seconds. What is the cost in rupees for 4 minutes 20 seconds? (Round upto one decimal).

A) 6.1 B) 6
C) 6.2 D) 6.3
 
Answer & Explanation Answer: A) 6.1

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Q:

A shopkeeper cheats to the extent of 8% while buying and selling fruits, by using tampered weights, his total gain in percentage is

A) 16.25 B) 16.44
C) 16.75 D) 16.5
 
Answer & Explanation Answer: B) 16.44

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