Profit and Loss Questions

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:

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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Q:

The difference between cost price and selling price is Rs 575. If profit percentage is 23%, then what is the selling price (in Rs)?

A) 3225 B) 1925
C) 2500 D) 3075
 
Answer & Explanation Answer: D) 3075

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2 1596
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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Q:

The total cost of a stove with cooker was Rs 13,125. The cooker was sold at a profit of 30% and the stove at a loss of 20%. If the sale price was the same in both the items, then the cost price of the cheaper item was

A) Rs 8125 B) Rs 5000
C) Rs 6562.5 D) Rs 6175
 
Answer & Explanation Answer: B) Rs 5000

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2 1591
Q:

If a merchant offers a discount of 25% on the list price, then he makes a loss of 5%. What % profit or % loss will he make if he sells at a discount of 10% of the list price?

A) 5.5 percent loss B) 14 percent profit
C) 50 percent profit D) 26 percent loss
 
Answer & Explanation Answer: B) 14 percent profit

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3 1588
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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Q:

Deepak marks the price of his table 60% above the cost price. He gives some discount on it and earns profit of 15.2%. What is the discount percentage?

A) 36.4 B) 28
C) 44.8 D) 38.9
 
Answer & Explanation Answer: B) 28

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3 1580
Q:

By selling an item for Rs. 696 Unnati incurred a loss of 13%. By how much should she have raised the price to gain a profit of 10%?

A) Rs. 160.08 B) Rs. 104
C) Rs. 84 D) Rs. 184
 
Answer & Explanation Answer: D) Rs. 184

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