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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 sells a jacket 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. 4158, what had it cost (in Rs) to the wholesaler?

A) 3500 B) 3400
C) 3300 D) 3600
 
Answer & Explanation Answer: D) 3600

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Q:

A vendor buys apples at the rate of 21 for Rs 7 and sells at the rate of 5 for Rs 2. What will be the result?

A) 20 percent loss B) 20 percent gain
C) 16.66 percent gain D) 16.6 percent loss
 
Answer & Explanation Answer: B) 20 percent gain

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8 1553
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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Q:

Surbhi invested Rs.6000 for 5 months and Urba invested Rs.5000 for 6 months in a venture. The ratio in which they will share the profits is

A) 36:25 B) 6:5
C) 5:6 D) 1:1
 
Answer & Explanation Answer: D) 1:1

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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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Q:

A shopkeeper buys a product of Rs 150 per Kg. 15% of product was damaged. At what price (per Kg) should he sell the remaining so as to earn a profit of 20%?

A) Rs. 207 B) Rs. 207 11/180
C) Rs. 211 13/17 D) Rs. 204 7/13
 
Answer & Explanation Answer: C) Rs. 211 13/17

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Q:

If a person has sold an article for Rs. 1300 and made a profit of 30%, find the cost price of the article.

A) Rs. 1000 B) Rs. 1200
C) Rs. 1250 D) Rs. 1100
 
Answer & Explanation Answer: A) Rs. 1000

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3 1544
Q:

On selling 30 caps, a shopkeeper earns profit equal to the selling price of 3 caps. What is the profit percentage?

A) 12.5 B) 11.11
C) 10 D) 14.28
 
Answer & Explanation Answer: B) 11.11

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