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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 rice trader buys 8 quintals of rice for Rs 3,600. 10% rice is lost in transportation. At what rate should he sell to earn 15% profit?

A) Rs 352.1 per quintal B) Rs 517.5 per quintal
C) Rs 575 per quintal D) Rs 582.3 per quintal
 
Answer & Explanation Answer: C) Rs 575 per quintal

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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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3 1717
Q:

A shopkeeper, sold cocoa seeds at the rate Rs 1330 a kg and bears a loss of 15%. Now if he decides to sell it at Rs 1463 per kg, what will be the result?

A) 13 percent loss B) 6.5 percent gain
C) 6.5 percent loss D) 13 percent gain
 
Answer & Explanation Answer: C) 6.5 percent loss

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0 1717
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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1 1711
Q:

Raj sells a machine for Rs 51 lakhs at a loss. Had he sold it for Rs 60 lakh, his gain would have been 8 times the earlier loss. What is the cost price of the machine?

A) Rs 59 lakhs B) Rs 52 lakhs
C) Rs 66.375 lakhs D) Rs 45 lakhs
 
Answer & Explanation Answer: B) Rs 52 lakhs

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1 1704
Q:

The ratio of the cost price and selling price of a bulb is 15 : 18. What is the profit percentage?

A) 16.66 B) 14.28
C) 20 D) 22
 
Answer & Explanation Answer: C) 20

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1 1702
Q:

If Mohan purchase 13 articles for Rs 12 and sells all the articles at the rate of 12 articles for Rs 13, then what will be the profit percentage?

A) 19.47 B) 17.36
C) 11.11 D) 12.5
 
Answer & Explanation Answer: B) 17.36

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3 1701
Q:

The marked price of an article is 20% more than its cost price. If 5% discount is given on the marked price, then what is the profit percentage?

A) 5 B) 14
C) 15 D) 25
 
Answer & Explanation Answer: B) 14

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