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Profit and Loss

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 = $(\frac{P r o f i t}{C . P} \times 100)$

2. Loss percentage = $(\frac{L o s s}{C . P} \times 100)$

3. $S . P = [\frac{100 + G a i n %}{100} \times C . P] = [\frac{100 - L o s s %}{100} \times C . P]$

4. $C . P = [\frac{100}{100 + G a i n %} \times S . P] = [\frac{100}{100 - L o s s %} \times S . P]$

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 : $L o s s % = (\frac{C o m m o n L o s s a n d G a i n %}{10})^{2} = {(\frac{x}{10})}^{2}$

8. If a trader Professes to sell his goods at cost price, but uses false weihts, then

$G a i n % = [\frac{E r r o r}{T r u e V a l u e - E r r o r} \times 100] %$

Cost price of an article is Rs 360. If the profit percentage is 32%, then what is the value (in Rs) of profit?

A) 126.2	B) 108.2
C) 115.2	D) 105.2

A) 126.2

B) 108.2

C) 115.2

D) 105.2

Answer & Explanation Answer: C) 115.2

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2 1335

A shopkeeper increases the price of an object by 40% and then sells it at 25% discount on the marked price. If the selling price of such an object be Rs. 2100, its cost price for the shopkeeper was ?

A) 3000	B) 1500
C) 1750	D) 2000

A) 3000

B) 1500

C) 1750

D) 2000

Answer & Explanation Answer: D) 2000

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0 1334

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

A) 13

B) 12

C) 12.5

D) 12.25

Answer & Explanation Answer: B) 12

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1 1332

P, Q and R are partners in a company. In any year P receives 1/9 part of profit, Q receives 1/6 part of profit and R receives Rs 130000. How much amount (in Rs) will P get as profit?

A) 40000	B) 36000
C) 18000	D) 20000

A) 40000

B) 36000

C) 18000

D) 20000

Answer & Explanation Answer: D) 20000

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2 1325

A shopkeeper marks the price of an article at Rs. 320. Find the cost price if after allowing a discount of 10%, he still gains 20% on the cost price.

A) Rs. 240	B) Rs. 280
C) Rs. 300	D) Rs. 264

A) Rs. 240

B) Rs. 280

C) Rs. 300

D) Rs. 264

Answer & Explanation Answer: A) Rs. 240

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0 1324

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%

A) 55.56%

B) 53.25%

C) 45.50%

D) 56.25%

Answer & Explanation Answer: D) 56.25%

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3 1323

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

A) 31.24

B) 37.5

C) 30

D) 33.33

Answer & Explanation Answer: D) 33.33

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0 1322

The marked price of an article is Rs 1200 and retailer gets a discount of 25%. If he sells that article for Rs 1200, then what is the profit percentage of retailer?