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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:

Yayati sold an item at a loss of 13%. If he had sold it for Rs. 49 more, he would have made a profit of 22%. What should be the selling price of the item to gain a profit of 30%?

A) Rs. 190 B) Rs. 187.75
C) Rs. 192.30 D) Rs. 182
 
Answer & Explanation Answer: D) Rs. 182

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Q:

Raghunandan sells a machine for Rs 45 lakhs at a loss. Had he sold it for Rs 55 lakh, his gain would have been 9 times the former loss. Find the cost price of the machine.

A) Rs 54 lakhs B) Rs 46 lakhs
C) Rs 60 lakhs D) Rs 38 lakhs
 
Answer & Explanation Answer: B) Rs 46 lakhs

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Q:

If 10% loss is made on selling price, then the rate of loss on the cost price will be

A) 11 1/9% B) 9 1/11%
C) 10% D) 11%
 
Answer & Explanation Answer: A) 11 1/9%

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Q:

A shopkeeper allows a discount of 20% to his customers and still gains 25%. Find the Marked price of an article which costs Rs.600 to the shopkeeper.

A) Rs.937.50 B) Rs.937
C) Rs.930 D) Rs.1000
 
Answer & Explanation Answer: A) Rs.937.50

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Q:

The marked price of a helmet is 30% more than its cost price. If the helmet is sold for Rs 744 after a discount of Rs 36, then what will be the profit percentage?

A) 24 B) 18
C) 21 D) 27
 
Answer & Explanation Answer: A) 24

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Q:

A merchant marks the price of his articles 20% above the cost price. If he allows 20% discount, then what is the profit or loss percentage?

A) 2% loss B) 4% profit
C) 4% loss D) No profit/loss
 
Answer & Explanation Answer: C) 4% loss

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Q:

Selling price of an article is Rs 27692 and loss percentage is 14%. If the selling price is Rs 37352, then what will be the profit percentage?

A) 13.8 B) 18.6
C) 14 D) 16
 
Answer & Explanation Answer: D) 16

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Q:

A shopkeeper marks the price of his table 30% above the cost price. He allows his customers a discount of 12% on the marked price. What is the profit percentage?

 

A) 14.4 B) 18
C) 16.66 D) 12.5
 
Answer & Explanation Answer: A) 14.4

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