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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:

Mohit buys an old bicycle for Rs 2700 and spends Rs 500 on its repairs. If he sells the bicycle for Rs 3520, then what is his profit percentage?

A) 10 B) 12.5
C) 15 D) 20
 
Answer & Explanation Answer: A) 10

Explanation:
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4 1896
Q:

A trader buys 500 kgs of cotton for Rs 9,000. 10% of this cotton is spoiled due to rain. At what rate (Rs/Kg) should he sell the rest to earn 10% profit?

A) 25 B) 30
C) 22 D) 20
 
Answer & Explanation Answer: C) 22

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4 1883
Q:

The marked price of an article is 40% more than its cost price. If 15% discount is given on the marked price, then what will be the profit percentage?

A) 25 B) 15
C) 21 D) 19
 
Answer & Explanation Answer: D) 19

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2 1881
Q:

If a wholesaler, sells a tin of coffee at Rs 528 he faces a loss of 12%. Now if he decides to sell it at Rs 636, what will be the profit (in %)?

A) 7 B) 5
C) 6 D) 4
 
Answer & Explanation Answer: C) 6

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4 1878
Q:

Ravi sold a smartphone for Rs. 30,000. Had he offered a discount of 10% on the selling price(SP), he would have earned a profit of 35%. What is the cost price?

A) Rs. 20,000 B) Rs. 22,000
C) Rs. 24,000 D) Rs. 26,000
 
Answer & Explanation Answer: A) Rs. 20,000

Explanation:
30,000*90/100 = 27000
27,000 = CP*135*/100
CP = 20000
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2 1878
Q:

Rajesh sells a machine for Rs 57 lakhs at a loss. Had he sold it for Rs 67 lakh, his gain would have been 7 times the former loss. Find the cost price of the machine.

A) Rs 58.25 lakhs B) Rs 65.75 lakhs
C) Rs 75.14 lakhs D) Rs 50.75 lakhs
 
Answer & Explanation Answer: A) Rs 58.25 lakhs

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2 1877
Q:

The marked price of a chair is Rs 550 and a discount of 20% is given on it. What is the selling price (in Rs)?

A) 440 B) 430
C) 470 D) 390
 
Answer & Explanation Answer: A) 440

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0 1872
Q:

The marked price of a chair is 40% more than its cost price. If the chair is sold for Rs 520 after a discount of Rs 40, then what will be the profit percentage?

A) 33 B) 40
C) 25 D) 30
 
Answer & Explanation Answer: D) 30

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2 1868