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 shopkeeper, sold cocoa seeds at the rate Rs 1,230 a kg and bears a loss of 5%. Now if he decides to sell it at Rs 1,353 per kg, what will be the result?

A) 4.5 percent gain B) 9 percent gain
C) 4.5 percent loss D) 9 percent loss
 
Answer & Explanation Answer: A) 4.5 percent gain

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Q:

If a vendor sells a coconut at Rs 24 he makes 20% loss. If he sells at Rs 36 then what is his profit percentage?

A) 10 B) 20
C) 30 D) 40
 
Answer & Explanation Answer: B) 20

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Q:

If a merchant offers a discount of 40% on the list price, then he makes a loss of 10%. What % profit or % loss will he make if he sells at a discount of 20% of the list price?

A) 4 percent loss B) 14 percent profit
C) 5.5 percent loss D) 20 percent profit
 
Answer & Explanation Answer: D) 20 percent profit

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Q:

If a saree is sold for Rs 2880 the seller will face 10% loss, at what price (in Rs) should he sell to gain 20% profit?

A) 4830 B) 3840
C) 3480 D) 4380
 
Answer & Explanation Answer: B) 3840

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Q:

If a shop keeper marks his goods for a certain amount so as to get 25% gain after allowing a discount of 20%, then his marked price is

A) Rs.156.25 B) Rs.146.25
C) Rs.166.25 D) Rs.150.25
 
Answer & Explanation Answer: A) Rs.156.25

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Q:

If a merchant offers a discount of 20% on the list price, then he makes a loss of 10%. What % profit or % loss will she make if he sells at a discount of 5% of the list price?

A) 6.875 percent profit B) 20 percent profit
C) 14 percent profit D) 30 percent loss
 
Answer & Explanation Answer: A) 6.875 percent profit

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Q:

A dishonest shopkeeper uses a weight of 850 gm instead of 1 kg and sells rice on its cost price. What will be his profit percentage on selling 5 kg rice?

A) 18.24 B) 17.65
C) 15 D) 13.04
 
Answer & Explanation Answer: B) 17.65

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Q:

12 copies of a book were sold for Rs. 1800 thereby gaining cost price of 3 copies. The cost price of a copy of the book is

A) Rs. 120 B) Rs. 150
C) Rs. 1200 D) Rs. 1500
 
Answer & Explanation Answer: A) Rs. 120

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