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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:

Selling price of a calculator is Rs 13924 and profit percentage is 18%. If selling price is Rs 10266, then what will be the loss percentage?

A) 17.2 B) 13
C) 14.9 D) 11
 
Answer & Explanation Answer: B) 13

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Q:

A vendor buys 12 bananas for Rs 60 and sells 5 bananas for Rs 32. What will be his gain (in %)?

A) 28 B) 32
C) 24 D) 22
 
Answer & Explanation Answer: A) 28

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2 1421
Q:

The difference between cost price and selling price is Rs 576. If the profit percentage is 16%, then what is the cost price (in Rs)?

A) 3024 B) 4176
C) 3600 D) 3800
 
Answer & Explanation Answer: C) 3600

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Q:

A sells a watch to B and makes a loss of 12%. B makes a profit of 12.5% by selling the watch to C. If A sells the watch to B at the cost of which C purchased it, then the percentage of loss or profit of A will be,

A) 1% loss B) 1% profit
C) 2% loss D) 2% profit
 
Answer & Explanation Answer: A) 1% loss

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5 1416
Q:

A rice trader buys 12 quintals of rice for Rs 1,870. 15% rice is lost in transportation. At what rate should he sell to earn 20% profit?

A) Rs 110.3 per quintal B) Rs 187 per quintal
C) Rs 220 per quintal D) Rs 224 per quintal
 
Answer & Explanation Answer: C) Rs 220 per quintal

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3 1413
Q:

A wholesaler sells a watch to a retailer at a gain of 20% and the retailer sells it to a customer at a loss of 10%. If the customer pays Rs 874.8, what had it cost the wholesaler?

A) Rs 945 B) Rs 810
C) Rs 994 D) Rs 675
 
Answer & Explanation Answer: B) Rs 810

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Q:

If a person bought an item for Rs. 60 and sold it at a profit of 25%, the selling price of the item would be

A) Rs. 84 B) Rs. 72
C) Rs. 75 D) Rs. 80
 
Answer & Explanation Answer: C) Rs. 75

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Q:

When a discount of 25% is given on a box of popcorn, the profit is 25%. If the discount is 10%, then the profit is

A) 35 percent B) 50 percent
C) 20 percent D) 65 percent
 
Answer & Explanation Answer: B) 50 percent

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