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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:

What profit percent is made by selling an article at a certain price, if by selling at 2/3rd of that price, there would be a loss of 20%   ?

A) 30 % B) 25 %
C) 15 % D) 20 %
 
Answer & Explanation Answer: D) 20 %

Explanation:

SP2 = 2/3 SP1
CP = 100
SP2 = 80
2/3 SP1 = 80

SP1 = 120
100 --- 20   => 20%

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Q:

Due to reduction of 25% in price of oranges a customer can purchase 4 oranges more for Rs. 16. what is original price of an orange?

A) Rs 1 B) Rs 1.33
C) Rs 1.5 D) Rs 1.6
 
Answer & Explanation Answer: B) Rs 1.33

Explanation:

Recall it is based on inverse proportion or product constancy concept.

 

 

 

     Reducion in price                      increase in amount

 

 

 

         25%     1/4                              1/3   33.33% = 4 oranges

 

 

 

It means original number of oranges = 4 x 3 = 12

 

 

 

original price of oranges = 16/12 = Rs. 1.33

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185 34659
Q:

The ratio of selling price to the cost price is 21 : 16. What is the profit percentage?

 

A) 35.75 B) 21.75  
C) 27.75 D) 31.25
 
Answer & Explanation Answer: D) 31.25

Explanation:
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Q:

By selling an article at Rs.800, a shopkeeper makes a profit of 25%.At what price should he sell the article so as to make a loss of 25%?

A) Rs.720 B) Rs.640
C) Rs.540 D) Rs.480
 
Answer & Explanation Answer: D) Rs.480

Explanation:

SP = Rs.800 ; Profit = 25%

 CP = SP x 100100+P% = 800 x 100100+25 = 640

 

 Now, CP = Rs.640

 

Loss = 25% = 25% of Rs.640 = Rs.160

 

Thus, SP = CP - Loss = Rs.640 - Rs.160 = Rs.480

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Q:

By selling 33 m clothes, a person gains cost price of 11 m clothes. Find the gain %.

 

A) 30% B) 33.33%
C) 25% D) 35%
 
Answer & Explanation Answer: B) 33.33%

Explanation:
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Q:

Bhajan Singh purchased 120 reams of paper at Rs 80 per ream. He spent Rs 280 on transportation, paid octroi at the rate of 40 paise per ream and paid Rs 72 to the coolie. If he wants to have a gain of 8 %, what must be the selling price per ream?

A) 90 B) 89
C) 87.48 D) 86
 
Answer & Explanation Answer: A) 90

Explanation:

Total investment = Rs. (120 * 80 + 280 + (40/100) * 120 + 72).
= Rs. (9600 + 280+48 + 72) = Rs, 10000.
Sell price of 120 reams = 108% of Rs. 10000 = Rs. 10800.
Sell Price per ream = Rs. [10800/120] = Rs. 90.

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Q:

In a scheme, a pack of three soaps with MRP Rs.45 is available for Rs.42. If it still gives a profit of 5% to the shopkeeper, then the cost price of the pack is ?

A) 38 B) 39
C) 40 D) 41
 
Answer & Explanation Answer: C) 40

Explanation:

Given M.P=45,S.P=42, Profit = 0.05

Let C.P=x , Then

Profit = (42-x)/x = 0.05
=> x = 40.

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Q:

Refer the below data table and answer the following question.

What was the total profit or loss of the company in the last 5 years?

A) Loss of Rs 45 crores B) Profit of Rs 55 crores
C) Profit of Rs 45 crores D) Loss of Rs 55 crores
 
Answer & Explanation Answer: C) Profit of Rs 45 crores

Explanation:
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