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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:

Profit of Rs 936000 has to be divided among three partners Anirudhha, Balwant and Charudatta in the ratio 2:3:5. How much does Charudatta get?

A) 280800 B) 187200
C) 468000 D) 2340000
 
Answer & Explanation Answer: C) 468000

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Q:

X, Y and Z are partners in a company. In one year X receives 1/4 part of profit, Y receives 1/5 part of profit and Z receives Rs 22000. How much amount (in Rs) will X get as profit?

 

A) 10000 B) 12000
C) 15000 D) 18000
 
Answer & Explanation Answer: A) 10000

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Q:

A fan was sold for Rs. 3600 at a loss of 4%. What would be the gain or loss percent ifit was sold for Rs. 4200?

A) Gain 10% B) Gain 12%
C) Loss 12% D) Loss 10%
 
Answer & Explanation Answer: B) Gain 12%

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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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Q:

Mukesh sells two shirts. The cost price of the first shirt is equal to the selling price of the second shirt. The first shirt is sold at a profit of 30% and the second shirt is sold at a loss of 30%. What is the ratio of the selling price of the first shirt to the cost price of the second shirt?

A) 91 : 100 B) 100 : 91
C) 31 : 50 D) 50 : 31
 
Answer & Explanation Answer: A) 91 : 100

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Q:

A contractor has got two orders A and B. On one (A) he spends Rs. 25,000 and makes a bill of Rs. 30,500. On the other (B) he makes a bill keeping a profit of 20%. Which of the two orders is more profitable to him?

A) B B) A
C) A nor B D) None of the above
 
Answer & Explanation Answer: B) A

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Q:

Rajat sells a machine for Rs 53 lakhs at a loss. Had he sold it for Rs 64 lakh, his gain would have been 10 times the former loss. Find the cost price of the machine.

A) Rs 63 lakhs B) Rs 69.3 lakhs
C) Rs 45 lakhs D) Rs 54 lakhs
 
Answer & Explanation Answer: D) Rs 54 lakhs

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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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