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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 104000 has to be divided among three partners Ashok, Bimla and Chirag in the ratio 6:4:3. How much does Chirag get?

A) 24000 B) 32000
C) 48000 D) 12000
 
Answer & Explanation Answer: A) 24000

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1 1614
Q:

Selling price of an article is Rs 27692 and loss percentage is 14%. If the selling price is Rs 37352, then what will be the profit percentage?

A) 13.8 B) 18.6
C) 14 D) 16
 
Answer & Explanation Answer: D) 16

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4 1613
Q:

The difference between cost price and selling price is Rs 494. If loss percentage is 19%, then what is the selling price (in Rs)?

A) 2106 B) 2600
C) 3094 D) 2208
 
Answer & Explanation Answer: A) 2106

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2 1611
Q:

The marked price of a helmet is 30% more than its cost price. If the helmet is sold for Rs 744 after a discount of Rs 36, then what will be the profit percentage?

A) 24 B) 18
C) 21 D) 27
 
Answer & Explanation Answer: A) 24

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2 1605
Q:

P bought an article for Rs. 1600 and sold it at a profit of 10%. What would have been the increase in the profit percent if it was sold for Rs. 1840?

A) 5% B) 10%
C) 12% D) 15%
 
Answer & Explanation Answer: A) 5%

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4 1603
Q:

Cost price of 28 articles is equal to Sale price of 21 articles, then percentage of profit is

A) 12% B) 33 1⁄3 %
C) 20% D) 22%
 
Answer & Explanation Answer: B) 33 1⁄3 %

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2 1600
Q:

To dispose of the old stocks, a person sold a tea-set for Rs. 3420, which was 43% below the cost price. In order to make a profit of 10% the seller should have sold the set for Rs. ___ more.

A) Rs. 3180 B) Rs. 2580
C) Rs. 1812.60 D) Rs. 2664.42
 
Answer & Explanation Answer: A) Rs. 3180

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1 1597
Q:

If a wholesaler, sells a box of chocolates at Rs 960 he gains 20%. Now if he decides to sell it at Rs 1120, what is his profit percentage?

A) 30 B) 40
C) 50 D) 60
 
Answer & Explanation Answer: B) 40

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0 1596