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:

A wholesaler sold a water purifier at a loss of 40%. If the selling price has been increased by Rs. 125, then wholesaler will get the profit of 10%. What was the cost price of the purifier?

A) Rs. 250 B) Rs. 225
C) Rs. 275 D) Rs. 300
 
Answer & Explanation Answer: B) Rs. 225

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Q:

70% of the cost price of a article is equal to the 40% of its selling price. What is the profit or loss percentage?

A) 63% loss B) 70% loss
C) 75% profit D) 80% profit
 
Answer & Explanation Answer: C) 75% profit

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Q:

If a saree is sold for Rs 1900 the seller will face 5% loss, at what price (in Rs) should he sell the saree to gain 15% profit?

A) 2200 B) 2400
C) 2500 D) 2300
 
Answer & Explanation Answer: D) 2300

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Q:

If a merchant offers a discount of 10% on the list price, then she makes a loss of 25%. What % profit or % loss will she make if she sells at a discount of 20% of the list price?

A) 5 percent profit B) 33.33 percent loss
C) 90 percent profit D) 20 percent profit
 
Answer & Explanation Answer: B) 33.33 percent loss

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Q:

Rajesh sells a machine for Rs 57 lakhs at a loss. Had he sold it for Rs 67 lakh, his gain would have been 7 times the former loss. Find the cost price of the machine.

A) Rs 58.25 lakhs B) Rs 65.75 lakhs
C) Rs 75.14 lakhs D) Rs 50.75 lakhs
 
Answer & Explanation Answer: A) Rs 58.25 lakhs

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Q:

A trader had 2000 kgs of rice. He sold a part of it at 10% profit and the rest at 16% profit, so that he made a total profit of 14.2%. How much rice (in kg) did he sell at 10% profit?

A) 1400 B) 600
C) 800 D) 1000
 
Answer & Explanation Answer: B) 600

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Q:

The marked price of a chair is 40% more than its cost price. If the chair is sold for Rs 520 after a discount of Rs 40, then what will be the profit percentage?

A) 33 B) 40
C) 25 D) 30
 
Answer & Explanation Answer: D) 30

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Q:

An article is listed at Rs 2375. A man purchases it at two successive discounts of 50% and 25% and spends Rs 165 on repairing of article. If he sells thearticle at a profit of 62.5%, then what is the selling price (in Rs) of the article?

A) 1467.6 B) 1492.6
C) 1715.39 D) 1467.6
 
Answer & Explanation Answer: C) 1715.39

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