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Profit and Loss

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 = $(\frac{P r o f i t}{C . P} \times 100)$

2. Loss percentage = $(\frac{L o s s}{C . P} \times 100)$

3. $S . P = [\frac{100 + G a i n %}{100} \times C . P] = [\frac{100 - L o s s %}{100} \times C . P]$

4. $C . P = [\frac{100}{100 + G a i n %} \times S . P] = [\frac{100}{100 - L o s s %} \times S . P]$

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 : $L o s s % = (\frac{C o m m o n L o s s a n d G a i n %}{10})^{2} = {(\frac{x}{10})}^{2}$

8. If a trader Professes to sell his goods at cost price, but uses false weihts, then

$G a i n % = [\frac{E r r o r}{T r u e V a l u e - E r r o r} \times 100] %$

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

A) 19.47

B) 17.36

C) 11.11

D) 12.5

Answer & Explanation Answer: B) 17.36

Explanation:

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3 2103

A person sells wheat at a profit of 30%. If he reduces its selling price by Rs 60, then he suffers a loss of 10%. What was the initial selling price (in Rs)of the wheat?

A) 195	B) 210
C) 180	D) 130

A) 195

B) 210

C) 180

D) 130

Answer & Explanation Answer: A) 195

Explanation:

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5 2090

A shopkeeper allows a discount of 20% to his customers and still gains 25%. Find the Marked price of an article which costs Rs.600 to the shopkeeper.

A) Rs.937.50	B) Rs.937
C) Rs.930	D) Rs.1000

A) Rs.937.50

B) Rs.937

C) Rs.930

D) Rs.1000

Answer & Explanation Answer: A) Rs.937.50

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7 2089

A shopkeeper offers 2.5% discount on cash purchases . What cash amount would Rohit pay for a cycle , the marked price of which is Rs.3600 ?

A) Rs. 3490	B) Rs. 3500
C) Rs. 3510	D) Rs. 3520

A) Rs. 3490

B) Rs. 3500

C) Rs. 3510

D) Rs. 3520

Answer & Explanation Answer: C) Rs. 3510

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1 2085

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

A) 5

B) 14

C) 15

D) 25

Answer & Explanation Answer: B) 14

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3 2083

If the rice is sold at Rs 56 per kg, there would be a 40% loss. To earn a profit of 20% what should be the price of rice (per kg)?

A) 112	B) 108
C) 116	D) 124

A) 112

B) 108

C) 116

D) 124

Answer & Explanation Answer: A) 112

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0 2079

The marked price of an article is 10/7 of the cost price and the selling price of that article is 4/5 of the marked price. What is the profit percentage?