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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:

A trader marks his goods in such a way that after allowing a discount of 10% he gains 15%. If an article costs him Rs. 720, his marked price is

A) Rs.920 B) Rs.900
C) Rs.820 D) Rs.950
 
Answer & Explanation Answer: A) Rs.920

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5 1919
Q:

If a saree is sold for Rs 1900 the seller will face 5% loss, at what price (in Rs) should he sell the saree to gain 15% profit?

A) 2200 B) 2400
C) 2500 D) 2300
 
Answer & Explanation Answer: D) 2300

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0 1919
Q:

If a vendor sells a coconut at Rs 24 he makes 20% loss. If he sells at Rs 36 then what is his profit percentage?

A) 10 B) 20
C) 30 D) 40
 
Answer & Explanation Answer: B) 20

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1 1908
Q:

A trader had 1200 kgs of rice. He sold a part of it at 5% profit and the rest at 11% profit, so that he made a total profit of 7%. How much (in kg) wheat did he sell at 5% profit?

A) 900 B) 600
C) 400 D) 800
 
Answer & Explanation Answer: D) 800

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0 1908
Q:

A shopkeeper, sold cocoa seeds at the rate Rs 1,230 a kg and bears a loss of 5%. Now if he decides to sell it at Rs 1,353 per kg, what will be the result?

A) 4.5 percent gain B) 9 percent gain
C) 4.5 percent loss D) 9 percent loss
 
Answer & Explanation Answer: A) 4.5 percent gain

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3 1908
Q:

70% of the cost price of a article is equal to the 40% of its selling price. What is the profit or loss percentage?

A) 63% loss B) 70% loss
C) 75% profit D) 80% profit
 
Answer & Explanation Answer: C) 75% profit

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5 1906
Q:

If a merchant offers a discount of 20% on the list price, then he makes a loss of 10%. What % profit or % loss will she make if he sells at a discount of 5% of the list price?

A) 6.875 percent profit B) 20 percent profit
C) 14 percent profit D) 30 percent loss
 
Answer & Explanation Answer: A) 6.875 percent profit

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0 1904
Q:

Cost price of an article is Rs 5800. If the loss percentage is 33%, then what is the selling price (in Rs) of the article?

A) 3886 B) 3424
C) 4420 D) 5168
 
Answer & Explanation Answer: A) 3886

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2 1904