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:

A man buys a trouser in Rs.1250. By reduction of 20% in the price of trouser, he can purchase a t-shirt also in the same amount that was initially paid for the trouser. Find the price of the t-shirt?

A) Rs. 250 B) Rs. 125
C) Rs. 225 D) Rs. 200
 
Answer & Explanation Answer: A) Rs. 250

Explanation:

Initial amount spent on trouser by the man = Rs. 1250

Now, by the reduction of 20% in 1250, he can buy t-shirt too.

=> t-shirt cost = 20% of 1250 = 20 x 1250/100 = 250

 

Therefore, the price of the t-shirt = Rs. 250.

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Q:

‘X’ is a bread seller who marked up price of each bread packet by 150% above and allow discounts of 40% and made a profit of Rs. 30 on each bread packet. If ‘X’ allows 37.5% discount on each packet, then find how much profit he gets on selling 80 bread packets?

A)  Rs 2750  B)  Rs 3200 
C)  Rs 2500  D)  Rs 2700 
 
Answer & Explanation Answer: D)  Rs 2700 

Explanation:

Let cost price of each bread packet = a Rs.

So, marked price of each bread packet = 2.5a

And selling price of each bread packet = 2.5a × 60/100 = 1.5a

Given, 1.5a –

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Q:

A rice trader buys 25 quintals of rice for Rs 1,825. 27% rice is lost in transportation. At what rate should he sell to earn 20% profit?

A) Rs 44.4 per quintal B) Rs 120 per quintal
C) Rs 87.6 per quintal D) Rs 115.8 per quintal
 
Answer & Explanation Answer: B) Rs 120 per quintal

Explanation:
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Q:

While selling a router, a shopkeeper gives a discount of 15%. If he gives a discount of 20%, he earns Rs. 51 less as profit. What is the original marked price of the router?

A) Rs. 1000 B) Rs. 1020
C) Rs. 1040 D) Rs. 980
 
Answer & Explanation Answer: B) Rs. 1020

Explanation:

Let the marked price of the router be Rs. P

From the given data,

P x 85100 - P x 80100 = 51P x 5100 = 51 P = 51005 = 1020 

 

Hence, the original marked price of the router is Rs. 1020.

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7 2814
Q:

If a stall sells a pizza at Rs 200 he makes 20% loss if he wants to make 10% profit then at what price (in Rs) should he sell?

A) 250 B) 300
C) 275 D) 325
 
Answer & Explanation Answer: C) 275

Explanation:
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Q:

Savita sold an item for 6,500 and incurred a loss of 20%. At what price should she have sold the item to have gained a profit of 20%?

A) 10,375 B) 9,750
C) 8,125 D) Cannot be determined
 
Answer & Explanation Answer: B) 9,750

Explanation:

C.P of article = 6500 * (100/80) = Rs. 8125 S.P for a gain of 20% = (8125*120)/100 = Rs. 9750

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Q:

If the ratio of cost price and selling price is 4 : 5 ,then the percentage of profit will be

A) 20 B) 0.1
C) 10 D) 25
 
Answer & Explanation Answer: D) 25

Explanation:
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Q:

A used car dealer sells a car for Rs 7.6 lakhs and makes some loss. If he had sold it for Rs 9.2 lakhs his profit would have been thrice his loss. What was the cost price of the car (in Rs lakhs)?

A) 8.5 B) 8.75
C) 8.25 D) 8
 
Answer & Explanation Answer: D) 8

Explanation:
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