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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:

The marked price of a trouser is twice of the cost price. To earn 36% profit, what should be the value of discount (in percentage)?

 

A)  33 B)  32
C)  34 D)  36
 
Answer & Explanation Answer: B)  32

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6 2040
Q:

If a person has sold an article for Rs. 1300 and made a profit of 30%, find the cost price of the article.

A) Rs. 1000 B) Rs. 1200
C) Rs. 1250 D) Rs. 1100
 
Answer & Explanation Answer: A) Rs. 1000

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3 2033
Q:

A shopkeeper, sold dried apricots at the rate Rs 1210 a kg and bears a loss of 12%. Now if he decides to sell it at Rs 1331 per kg, what will be the result?

A) 6.4 percent loss B) 3.2 percent gain
C) 6.4 percent gain D) 3.2 percent loss
 
Answer & Explanation Answer: D) 3.2 percent loss

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5 2029
Q:

Profit of Rs 104000 has to be divided among three partners Ashok, Bimla and Chirag in the ratio 6:4:3. How much does Chirag get?

A) 24000 B) 32000
C) 48000 D) 12000
 
Answer & Explanation Answer: A) 24000

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1 2025
Q:

A dishonest shopkeeper professes to sell goods at his cost price but uses a false weight of 950 gms, for each kilogram. His gain percentage is

A) 100/23% B) 100/19%
C) 100/17% D) 100/21%
 
Answer & Explanation Answer: B) 100/19%

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2 2019
Q:

On selling 30 caps, a shopkeeper earns profit equal to the selling price of 3 caps. What is the profit percentage?

A) 12.5 B) 11.11
C) 10 D) 14.28
 
Answer & Explanation Answer: B) 11.11

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5 2019
Q:

A trader had 12 quintals of wheat. He sold a part of it at 13% profit and the rest at 23% profit, so that he made a total profit of 17 %. How much wheat did he sell at 23% profit?

A) 720 kg B) 240 kg
C) 480 kg D) 960 kg
 
Answer & Explanation Answer: C) 480 kg

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3 2013
Q:

A wholesaler sells a watch to a retailer at a gain of 35% and the retailer sells it to a customer at a loss of 25%. If the customer pays Rs 2379.375, what had it cost the wholesaler?

A) Rs 2350 B) Rs 2409
C) Rs 2928 D) Rs 2291
 
Answer & Explanation Answer: A) Rs 2350

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2 2009