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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 vendor buys bananas at 4 for Rs 3 and sells at 3 for Rs 4. What will be the result?

A) 43.75% profit B) 77.7% loss
C) 77.7% profit D) 43.75% loss
 
Answer & Explanation Answer: C) 77.7% profit

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Q:

If a vendor sells apples at Rs 170 per kg he suffers 15% loss. If he sells at Rs 230 per kg, then what is his profit percentage?

A) 15 B) 10
C) 5 D) 20
 
Answer & Explanation Answer: A) 15

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5 1457
Q:

A shopkeeper, sold dried apricots at the rate Rs 1,310 a kg and bears a loss of 13%. Now if he decides to sell it at Rs 1,441 per kg, what will be the result?

A) 8.6 percent loss B) 4.3 percent gain
C) 4.3 percent loss D) 8.6 percent gain
 
Answer & Explanation Answer: C) 4.3 percent loss

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0 1456
Q:

By selling a table for Rs. 16,870, a shopkeeper suffers a loss of Rs. 1080. His loss percentage (rounded off to one decimal place) is

A) 6.4% B) 6.1%
C) 6.2% D) 6.0%
 
Answer & Explanation Answer: D) 6.0%

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2 1451
Q:

For an article the profit is 190% of the cost price. If the cost price increase by 10% but the selling price remains same, then profit is what percentage of selling price (approximately)?

A) 54 B) 62
C) 73 D) 163
 
Answer & Explanation Answer: B) 62

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Q:

The total cost of a microwave oven with mixer was Rs 36750. The mixer was sold at a profit of 32% and the microwave oven at a loss of 22%. If the sale price was the same in both the items, then the cost price of the cheaper item was _____.

A) Rs 13100 B) Rs 18375
C) Rs 13650 D) Rs 16850
 
Answer & Explanation Answer: C) Rs 13650

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3 1438
Q:

If selling price of 39 articles is equal to the cost price of 42 articles, then what will be the profit percentage?

 

A) 8.33 B) 7.69
C)  9.09 D) 11.33
 
Answer & Explanation Answer: B) 7.69

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4 1431
Q:

Dealer purchased an article for Rs. 900 and fixes the list price in such a way that he gains 20% after allowing 10% discount, then the list price is

A) Rs.1180 B) Rs.1080
C) Rs.1200 D) Rs.1100
 
Answer & Explanation Answer: C) Rs.1200

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