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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:

Raheem sells a machine for Rs 48 lakhs at a loss. Had he sold it for Rs 60 lakh, his gain would have been 5 times the former loss. Find the cost price of the machine.

A) Rs 58 lakhs B) Rs 69.6 lakhs
C) Rs 42 lakhs D) Rs 50 lakhs
 
Answer & Explanation Answer: D) Rs 50 lakhs

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Q:

If the cost price of 48 articles is equal to the selling price of 32 articles, then what is the profit percentage?

A) 20 B) 25
C) 50 D) 75
 
Answer & Explanation Answer: C) 50

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Q:

A shopkeeper by selling 20 Timex watches, earns a profit equal to the selling price of 4 Timex watches. His profit percentage is

A) 20 percent B) 25 percent
C) 30 percent D) 50 percent
 
Answer & Explanation Answer: B) 25 percent

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Q:

A wholesaler sells a watch to a retailer at a profit of 8% and the retailer sells it to a customer at a profit of 12%. If the customer pays Rs. 8,448 what had it cost (approximately) to the wholesaler (in Rs)?

A) 6984 B) 6082
C) 7120 D) 7022
 
Answer & Explanation Answer: A) 6984

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Q:

Price of a diamond is directly proportional to square of its weight. A man broke the diamond accidently in three pieces in the ratio of 3 : 5 : 7 and thus loses Rs 42600. What was the original price (in Rs) of the diamond?

A) 11786 B) 60000
C) 67500 D) 75000
 
Answer & Explanation Answer: C) 67500

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Q:

When a discount of 20% is given on a movie ticket, the profit is 34%. If the discount is 15%, then the profit is

A) 49 percent B) 42.375 percent
C) 55.625 percent D) 35.75 percent
 
Answer & Explanation Answer: B) 42.375 percent

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Q:

When a discount of 20% is given on a jacket, the profit is 28%. If the discount is 13%, then the profit is

A) 39.2 percent B) 41 percent
C) 42.8 percent D) 37.4 percent
 
Answer & Explanation Answer: A) 39.2 percent

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Q:

The cost price of 25 books is equal to the selling price of 20 books. The profit percent is

A) 20% B) 22%
C) 24% D) 25%
 
Answer & Explanation Answer: D) 25%

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