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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:

Mohan earns a profit of 20% on selling a jean at 15% discount on printed price. The ratio of the cost price to printed price of the jean is

A) 17:24 B) 17:34
C) 16:13 D) 21:23
 
Answer & Explanation Answer: A) 17:24

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Q:

A trader buys 500 kgs of cotton for Rs 9,000. 10% of this cotton is spoiled due to rain. At what rate (Rs/Kg) should he sell the rest to earn 10% profit?

A) 25 B) 30
C) 22 D) 20
 
Answer & Explanation Answer: C) 22

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Q:

A shopkeeper by selling 13 Titan watches, earns a profit equal to the selling price of 3 Titan watches. His profit percentage is

A) 30 percent B) 23.0 percent
C) 46 percent D) 16 percent
 
Answer & Explanation Answer: A) 30 percent

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Q:

Deepti bought a set of cups for Rs. 175, but then had to sell it later to clear old stocks for Rs. 161. What is the percentage of loss that she had to incur?

A) 16 B) 8
C) 7 D) 14
 
Answer & Explanation Answer: B) 8

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Q:

U starts a business by investing Rs 45000 and V join him after one year with an amount of Rs 33000. After two years from the starting of business, they earned profit of Rs 16400. What will be the U’s share (in Rs) in the profit?

A) 11200 B) 9600
C) 10000 D) 12000
 
Answer & Explanation Answer: D) 12000

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Q:

Dipali bought a set of cups for Rs. 375, but then had to sell it later to clear old stocks for Rs. 345. What is the percentage of loss that she incurred?

A) 14 B) 7
C) 16 D) 8
 
Answer & Explanation Answer: D) 8

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Q:

When Bablu decreases the selling price of the shoes from Rs. 360 to Rs. 345, his loss increases by 4%. The cost price of the shoes is

A) Rs. 275 B) Rs. 375
C) Rs. 425 D) Rs. 450
 
Answer & Explanation Answer: B) Rs. 375

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Q:

The selling price of an item inclusive of a 10% profit was Rs.440. What would be the percentage loss if the item was sold for Rs. 370?

A) 7.5 B) 8
C) 6.25 D) 8.4
 
Answer & Explanation Answer: A) 7.5

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