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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:

The marked price of a helmet is 30% more than its cost price. If the helmet is sold for Rs 744 after a discount of Rs 36, then what will be the profit percentage?

A) 24 B) 18
C) 21 D) 27
 
Answer & Explanation Answer: A) 24

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2 1425
Q:

A merchant marks the price of his articles 30% above the cost price. He gives some discount on it and earns a profit of 13.75%. What is the discount percentage?

A) 12.5 B) 13.75
C) 16.25 D) 10.25
 
Answer & Explanation Answer: A) 12.5

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2 1424
Q:

Deepak sells all his goods available in his shop at the cost price, but he cheats his customer and gives 20% less goods as he should give. Find his % profit.

A) 30% B) 33%
C) 25% D) 20%
 
Answer & Explanation Answer: C) 25%

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6 1424
Q:

A trader bought 10 kg of tea at Rs. 400 per kg. He sold half the quantity at 20% loss and remaining at 10% profit. What was his net profit or loss in percentage?

A) 5% loss B) 5% gain
C) 10% loss D) 10% gain
 
Answer & Explanation Answer: A) 5% loss

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3 1422
Q:

By what fraction selling price (S.P.) must be multiplied to get the cost price (C.P.) if the loss is 20% ?

A) 4/5 B) 8/5
C) 5/4 D) 6/5
 
Answer & Explanation Answer: C) 5/4

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2 1421
Q:

The shopkeepers announce the same price of Rs. 700 for a sewing machine. The first offers successive discounts of 30% and 6% while the second offers successive discounts of 20% and 16%. The difference in their selling price is

A) Rs. 9.8 B) Rs. 16.8
C) Rs. 22.4 D) Rs. 36.4
 
Answer & Explanation Answer: A) Rs. 9.8

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1 1416
Q:

A vendor buys 6 bananas for Rs 25 and sells them at 3 for Rs 20. What is his profit percentage?

A) 50 B) 40
C) 60 D) 30
 
Answer & Explanation Answer: C) 60

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1 1416
Q:

The marked price of a trouser is twice of the cost price. To earn 36% profit, what should be the value of discount (in percentage)?

 

A)  33 B)  32
C)  34 D)  36
 
Answer & Explanation Answer: B)  32

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