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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:

A wholesaler had 200 dozens of mangoes. He sold some of these mangoes at 20% profit and the rest at 10% profit, so that he made 13% profit on selling all the mangoes. How many mangoes (in dozens) did he sell at 20% profit?

A) 140 B) 60
C) 80 D) 120
 
Answer & Explanation Answer: B) 60

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Q:

Selling price of a glass is Rs 1965 and loss percentage is 25%. If selling price is Rs 3013, then what will be the profit percentage?

A) 13 B) 10.4
C) 15 D) 20
 
Answer & Explanation Answer: C) 15

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Q:

A wholesaler sells a jacket to a retailer at a profit of 25% and the retailer sells it to a customer at a profit of 20%. If the customer pays Rs. 2,400, what had it cost (in Rs) the wholesaler?

A) 2000 B) 1600
C) 1800 D) 2250
 
Answer & Explanation Answer: B) 1600

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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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Q:

A home theatre set is Rs. 4950. If two successive discounts of 20% and 15% are given, then its selling price is

A) Rs.3366 B)  Rs.6633
C)  Rs.3636 D) Rs.6363
 
Answer & Explanation Answer: A) Rs.3366

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Q:

A used two-wheeler dealer sells a scooter for Rs 46,000 and makes some loss. If he had sold it for Rs 58,000 his profit would have been double his loss. What was the cost price (in Rs) of the scooter?

A) 52000 B) 54000
C) 48000 D) 50000
 
Answer & Explanation Answer: D) 50000

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Q:

A store sells a watch for a profit of 25% of the cost. Then the percentage of profit against selling price is

A) 22% B) 20%
C) 18% D) 15%
 
Answer & Explanation Answer: B) 20%

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Q:

If the ratio of the cost price and the selling price of an article be 4:5, then the percentage of profit is:

A) 27.5 B) 25
C) 15 D) 10
 
Answer & Explanation Answer: B) 25

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