Sawaal

 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:

The market price of an article was 40% more than its cost price. Rana was going to sell it at market price to a customer, but he showed Rana some defects in the article, due to which Rana gave him a discount of 28.57%. Next day he came again and showed Rana some more defects, hence he gave him another discount that was equal to 12.5% of the cost price. What was the approximate profit/loss to Rana ?

A) Loss of 12.5% B) Profit of 12.5%
C) Loss of 24.5% D) Profit of 22.5%
 
Answer & Explanation Answer: A) Loss of 12.5%

Explanation:

Let the cost price be Rs. 100
Then, market price is Rs. 140
Now, the first discount is of 28.57% Rs.140 =~ Rs. 40
Hence, its selling price = 140 - 40 = Rs. 100
Now since Rana is selling at cost price, any further discount will be equal to loss percentage.
The next dicount of 12.5% will be the loss percentage to Rana.

Report Error

View Answer Report Error Discuss

Filed Under: Profit and Loss
Exam Prep: AIEEE , Bank Exams , CAT , GATE , GRE
Job Role: Analyst , Bank Clerk , Bank PO

11 8383
Q:

If 60% of total articles are sold at a loss of 50% and remaining articles are sold at a profit of 50%, then what will be the overall loss percentage?

A) 20 B) 15
C) 25 D) 10
 
Answer & Explanation Answer: D) 10

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Profit and Loss
Exam Prep: Bank Exams

3 8026
Q:

If a trader sold two cars each at Rs. 325475 and gains 12% on the first and loses 12% on the second, then his profit or loss percent on the whole is ?

A) 1.44% loss B) 14.4% loss
C) 0% D) 14.4% profit
 
Answer & Explanation Answer: A) 1.44% loss

Explanation:

SP of each car is Rs. 325475, he gains 12% on first car and losses 12% on second car.
In this case, there will be loss and percentage of loss is given by

= [(profit%)(loss%)]/100 = (12)(12)/100 % = 1.44%

Report Error

View Answer Report Error Discuss

Filed Under: Profit and Loss
Exam Prep: AIEEE , Bank Exams , CAT
Job Role: Bank Clerk , Bank PO

2 7948
Q:

A supplier supplies cartridges to a news paper publishing house. He earns a profit of 25% by selling cartridges for Rs. 1540. Find the cost price of the Cartridges ?

A) Rs. 1100 B) Rs. 1793.4
C) Rs. 1440 D) Rs. 1232
 
Answer & Explanation Answer: D) Rs. 1232

Explanation:

Let Cost Price(C.P) = P
gain% = {(S.P-C.P)/C.P} x 100
25 = {(1540-P)/P} x 100
25/100 = (1540-P)/P
=> P = 4(1540)-4P
=> 5P = 4(1540)
=> P = 1232
So, Cost Price = Rs. 1232

Report Error

View Answer Report Error Discuss

Filed Under: Profit and Loss
Exam Prep: AIEEE , Bank Exams , CAT , GATE , GRE
Job Role: Bank Clerk , Bank PO

11 7862
Q:

A man purchases two articles, on selling one at loss of 20% while the other at a profit of 25%, he gains the overall profit of 5% than find the ratio of their selling price ?

A) 8 : 62.5 B) 55 : 8
C) 8 : 65 D) 64.4 : 9
 
Answer & Explanation Answer: A) 8 : 62.5

Explanation:

                      Article I                   Article II
                         -20                         25%
                                        5%
                         20%                       25%
                     

                          4              :              5

Now, Selling of first article = (4-20%) = 0.8

Selling of second article = (5+25%) =  6.25

Therefore the ratio of selling price = 8 : 62.5

Report Error

View Answer Report Error Discuss

Filed Under: Profit and Loss
Exam Prep: AIEEE , Bank Exams , CAT , GATE
Job Role: Bank Clerk , Bank PO

21 7755
Q:

Sambhu buys rice at Rs. 10/kg and puts a price tag on it so as to earn a profit of 20%. However, his faulty balance shows 1000 gm when it is actually 800 gm. What is his actual gain percentage ?

A) 50% B) 25%
C) 75% D) 60%
 
Answer & Explanation Answer: A) 50%

Explanation:

CP of 1000gm = Rs. 10
SP of 800gm = Rs. 12
SP of 1000gm =12x1000/800 = Rs. 15

Now take 1000gm as reference to calculate profit.
Profit=SP-CP=15-10=Rs. 5
Profit % = 5x100/10 = 50%

Report Error

View Answer Report Error Discuss

Filed Under: Profit and Loss
Exam Prep: AIEEE , Bank Exams , CAT , GATE
Job Role: Bank Clerk , Bank PO

8 7712
Q:

A retailer cheats his wholesaler and customer both. He purchases 19% more from the wholesaler and sells 15% less while selling to its customer. What is profit percentage by selling the goods at cost price?

A) 35% B) 40%
C) 42% D) 46%
 
Answer & Explanation Answer: B) 40%

Explanation:

Tota profit percentage = (119 x 100/85) - 100 = 3400/85 = 40% 

Report Error

View Answer Report Error Discuss

Filed Under: Profit and Loss
Exam Prep: AIEEE , Bank Exams , CAT
Job Role: Analyst , Bank Clerk , Bank PO

35 7673
Q:

The price of an article has been reduced by 35%. In order to restore the original price the new price must be increased by ?

A) 51.8 % B) 49.25 %
C) 47.2 % D) 53.84 %
 
Answer & Explanation Answer: D) 53.84 %

Explanation:

100
65
-------
65 ------- 35
100 ------ ? => 53.84 %

Report Error

View Answer Report Error Discuss

Filed Under: Profit and Loss
Exam Prep: AIEEE , Bank Exams , CAT , GATE
Job Role: Bank Clerk , Bank PO

6 7134