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:

Rohit wants to earn 21% profit on a belt after offering 45% discount. By how much percentage more should he mark the price of his article above the costprice?

A) 75.45 B) 120
C) 66 D) 102.5
 
Answer & Explanation Answer: B) 120

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0 1894
Q:

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
 
Answer & Explanation Answer: A) 112

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0 1892
Q:

A shopkeeper by selling 5 items, earns a profit equal to the selling price of 1 item. What is his profit percentage?

A) 20% B) 25%
C) 16% D) 22.5%
 
Answer & Explanation Answer: B) 25%

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4 1892
Q:

The profit earned by a shopkeeper by selling a bucket at a gain of 8% is Rs 28 more than when he sells it at a loss of 8%. The cost price (in Rupees) of the bucket is

A) 170 B) 190
C) 175 D) 165
 
Answer & Explanation Answer: C) 175

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0 1890
Q:

D sells a table to E at a profit of 30% and E sells it to F at a loss of 30%. What is the ratio of cost prices of D and F?

 

A) 100:91   B)  100:130  
C)  100:126   D) 1:1
 
Answer & Explanation Answer: A) 100:91  

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3 1882
Q:

A man bought 25 crates of oranges for Rs. 10,000. He lost 5 crates. In order to earn a total profit of 25% of the total cost, he would have to sell each of the remaining crates at

A) Rs.650 B) Rs. 625
C) Rs. 600 D) Rs. 575
 
Answer & Explanation Answer: B) Rs. 625

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2 1879
Q:

A bookseller bought 500 text books for  20,000. He wanted to sell them at a profit so that he get 50 books free. At what profit percent should he sell them?

A) 10 B) 20
C) 15 D) 10.5
 
Answer & Explanation Answer: A) 10

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4 1872
Q:

A wholesaler sells a good to a retailer at a profit of 5% and the retailer sells it to a customer at a profit of 10%. If the customer pays Rs. 2,000, what had it cost (in Rs) the wholesaler?

A) 1731.6 B) 3210.6
C) 1931.6 D) 2310.6
 
Answer & Explanation Answer: A) 1731.6

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2 1868