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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:

Qamar gained 16% on the resale of a used stereo. If he purchased the item for Rs. 1500, how much did he sell it for?

A) Rs. 1740 B) Rs. 1660
C) Rs. 1600 D) Rs. 1820
 
Answer & Explanation Answer: A) Rs. 1740

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Q:

U starts a business by investing Rs 45000 and V join him after one year with an amount of Rs 33000. After two years from the starting of business, they earned profit of Rs 16400. What will be the U’s share (in Rs) in the profit?

A) 11200 B) 9600
C) 10000 D) 12000
 
Answer & Explanation Answer: D) 12000

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Q:

Vikash purchased 5 bananas for Rs.4 and sold 4 bananas for Rs.5. Calculate his % profit?

A) 55.56% B) 53.25%
C) 45.50% D) 56.25%
 
Answer & Explanation Answer: D) 56.25%

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Q:

If the loss of percent on article is 15%. Then the ratio of the cost price and sell price will be

A) 17:20 B) 20:17
C) 23:15 D) 15:23
 
Answer & Explanation Answer: B) 20:17

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Q:

If 192 pens cost is Rs.10, how many pens can be bought for Rs.5?

A) 96 B) 72
C) 48 D) 56
 
Answer & Explanation Answer: A) 96

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Q:

R and S started a business by investing Rs 165000 and Rs 195000 respectively for the same period of time. If R’s share in the profit earned by them is Rs 11000, then what is the total profit (in Rs) earned by both of them together?

A) 22000 B) 40000
C) 26000 D) 24000
 
Answer & Explanation Answer: D) 24000

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Q:

The selling price of an item inclusive of a 16% profit was Rs. 435. What would be the percentage loss if the item was sold for Rs. 330?

A) 13 B) 12
C) 12.5 D) 12.25
 
Answer & Explanation Answer: B) 12

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Q:

A shopkeeper sells wheat at a profit of 20% and for weighing uses a weight which is 10% less than the actual weight. What is his total profit percentage?

 

A) 31.24 B) 37.5  
C) 30   D) 33.33
 
Answer & Explanation Answer: D) 33.33

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