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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:

Karthik incurred a loss of 40 percent on selling an article for Rs. 5,640. At what price should he have sold the item to have profit of 25%?

A) Rs. 11750 B) Rs. 12550
C) Rs. 13650 D) Rs. 11550
 
Answer & Explanation Answer: A) Rs. 11750

Explanation:

From the given data,

The cost price of the article = 5640 x 100/60 = Rs. 9400

The selling price of the article to gain 25% profit = 9400 x 125/100 = Rs. 11750.

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21 3992
Q:

A man purchased a bullock and a cart for Rs 1800. He sold the bullock at a profit of 20% and the cart at a profit of 30%.His total profit was 155/6 %. Find the cost price of bullock.

A) Rs 650 B) Rs 750
C) Rs 900 D) Rs 800
 
Answer & Explanation Answer: B) Rs 750

Explanation:

CP of bullock and cart = 1800

Let price of bullock be x and cart be (1800 –x)

SP of bullock and cart = 1800 + 155/6 X 1800 = 2265

Also, 1.2x + 1.3 (1800 –x) = 2265

⇒1.2x –1.3x = -75

⇒x = 750

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2 3987
Q:

Mr. Rajan invested Rs 1,00,000 in US Stock Markets when the GBPINR rate was 75. After one year his investment appreciated by 20% in GBP terms. He sold of his investments and repatriated the money to India at the then existing rate of 80. what was real returns in INR?

A) loss of 24% B) gain of 28%
C) loss of 28% D) gain of 20%
 
Answer & Explanation Answer: B) gain of 28%

Explanation:

Money invested by Rajan before 1 year was = Rs. 100000

Money in UK pounds @ 75 is = 100000/75 = 1333.33 Pounds

 

Now, after 1 year invested amount was appreciated by 20%

=> 20% of 1333.33 = 266.66

 

Total investment becomes = 1333.33 + 266.66 = 1600 Pounds

This 1600 Pounds @ Indian currency at 80 = 1600 x 80 = Rs. 1,28,000

 

Hence, Rajan's investment of Rs. 1,00,000 becomes Rs. 1,28,000 in 1 year

 

Therefore, his profit % = [(128000 - 100000)/100000] x 100 = 28%.

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9 3972
Q:

There are two shopkeepers, first shopkeeper calculates his profit percent on the selling price whereas the second shopkeeper calculates his profit percent on the cost price. If the selling price for both the shopkeeper is same and the difference between their profits is Rs.175. Then, calculate the sum of the cost price for both the shopkeeper if the profit percent for the both shopkeeper is 25%?

A) Rs 5425  B) Rs 4875 
C)  Rs 4675  D)  Rs 5275 
 
Answer & Explanation Answer: A) Rs 5425 

Explanation:

Let the selling price for each of the shopkeeper be Rs 100x

For 1st shopkeeper

SP= Rs 100x

CP=100

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12 3818
Q:

Two items A and B have equal cost price. Item A is sold at 40% profit and item B is sold at an amount 20% less than the selling price of item A. If the total profit is 156 Rs then find the cost price of A.

A) Rs. 300 B) Rs. 350
C) Rs. 400 D) Rs. 450
 
Answer & Explanation Answer: A) Rs. 300

Explanation:

Let the cost price of A as well as B is 100 Rs.
Then, ATQ:
Selling Price of A = 100+40 = 140
And Selling Price of B = 140 - (140*0.2) = 140 - 28 = 112
Total selling price = 140+112 = 252 Rs.
Total Cost price = Rs. 200
So by taking cost price = 100 Rs.
Total profit = 52 Rs.
Total profit will be Rs. 156 when cost price = (100/52)*156 = Rs. 300.

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3 3734
Q:

Arun is a cashew merchant in Telangana. He has cashews in sealed wooden boxes of 10kg each. The price of the cashew increases by Rs.20 per kg for every year, but at the same time, 10% of the cashews are eaten by rodents every year. If the price of a 1 kg of fresh cashew is Rs.120, what is the change in his profits if he sells a sealed box after one year of storage, rather than selling it fresh ? (In Rs.)

A) Rs. 60 B) Rs. 54
C) Rs. 80 D) Rs. 75
 
Answer & Explanation Answer: A) Rs. 60

Explanation:

Price of 1kg fresh cashew = Rs.120
Therefore, price of 10kg = Rs.120 x 10 = Rs.1200

10% of 10kg which eaten by rodents = 10 x 10/100 = 1kg.

So, End of Year he had 10kg - 1kg = 9kg

So, he sells that 9kg with Rs.20 per kg profit = 9 x 140 = 1260.

He buy 10kg wooden box with cashew for Rs.1200 and sell that for Rs. 1260

So, profit = 1260 - 1200 = Rs.60 more money he get.

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3 3711
Q:

The annual salary of Arun is 7.68 lac. If he spends Rs. 12000 on his children, 1/13th of rest of the salary on food and Rs. 8000 in mutual funds, then find the monthly saving he is left with?

A) Rs. 38000/- B) Rs. 39500/-
C) Rs. 40000/- D) Rs. 41250/-
 
Answer & Explanation Answer: C) Rs. 40000/-

Explanation:

Annual salary of Arun = 7,68,000 Rs.
Monthly salary = 7,68,000/12 = Rs. 64,000
Spending on children = Rs. 12,000
Rest = 52,000
1/13th of the rest = 52,000/13 = Rs. 4,000 is spent on food.
Rs. 8,000 is spent in mutual funds.
Monthly savings = 64,000 - (12,000+4,000+8,000) = Rs. 40,000.

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2 3660
Q:

A farmer buys a goat and a sheep for Rs 3500. He sold the sheep at a profit of 20 percent and the goat at a loss of 10 percent. If he sold both the animals at the same price, then the cost price (in Rs) of the cheaper animal was?

A) 2000 B) 1500
C) 1750 D) 2250
 
Answer & Explanation Answer: B) 1500

Explanation:
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10 3651