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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:

If 70% of total articles are sold at a profit of 20% and remaining articles are sold at a loss of 20%, then what will be the overall profit percentage?

A) 8 B) 12
C) 16 D) 6
 
Answer & Explanation Answer: A) 8

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Q:

Cost price of a calculator is Rs 495. If the profit percentage is 40%, then what is the value (in Rs) of profit?

A) 226 B) 198
C) 186 D) 218
 
Answer & Explanation Answer: B) 198

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Q:

The marked price of an article is 10/7 of the cost price and the selling price of that article is 4/5 of the marked price. What is the profit percentage?

A) 17.24 B) 16.66
C) 14.28 D) 15.42
 
Answer & Explanation Answer: C) 14.28

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2 1639
Q:

A bookseller bought 500 text books for  20,000. He wanted to sell them at a profit so that he get 50 books free. At what profit percent should he sell them?

A) 10 B) 20
C) 15 D) 10.5
 
Answer & Explanation Answer: A) 10

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4 1637
Q:

The profit earned by a shopkeeper by selling a bucket at a gain of 8% is Rs 28 more than when he sells it at a loss of 8%. The cost price (in Rupees) of the bucket is

A) 170 B) 190
C) 175 D) 165
 
Answer & Explanation Answer: C) 175

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0 1636
Q:

The marked price of a calculator is Rs 750. It is sold at a discount of 22%. If the cost price of the calculator is Rs 500, then what is the profit (in Rs)?

 

A) 85   B)  105  
C)  95   D) 115
 
Answer & Explanation Answer: A) 85  

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4 1635
Q:

A shopkeeper cheats to the extent of 11% while buying and selling fruits, by using tampered weights. His total gain in percentage is

A) 23.25 B) 23.21
C) 23.75 D) 23.5
 
Answer & Explanation Answer: B) 23.21

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1 1631
Q:

Rohit wants to earn 21% profit on a belt after offering 45% discount. By how much percentage more should he mark the price of his article above the costprice?

A) 75.45 B) 120
C) 66 D) 102.5
 
Answer & Explanation Answer: B) 120

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0 1628