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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:

If a wholesaler, sells a box of chocolates at Rs 960 he gains 20%. Now if he decides to sell it at Rs 1120, what is his profit percentage?

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

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0 1725
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 1721
Q:

The difference between cost price and selling price is Rs 494. If loss percentage is 19%, then what is the selling price (in Rs)?

A) 2106 B) 2600
C) 3094 D) 2208
 
Answer & Explanation Answer: A) 2106

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2 1721
Q:

For an article the profit is 190% of the cost price. If the cost price increase by 10% but the selling price remains same, then profit is what percentage of selling price (approximately)?

A) 54 B) 62
C) 73 D) 163
 
Answer & Explanation Answer: B) 62

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2 1720
Q:

The marked price of an article is 60% more than its cost price. If the article is sold for Rs 300 after offering a discount of Rs 20, then what will be the profit percentage?

A) 45 B) 50
C) 25 D) 45
 
Answer & Explanation Answer: B) 50

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4 1716
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 1714
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 1712
Q:

A shopkeeper by selling 8 iphones, earns a profit equal to the selling price of 3 iphones. His profit percentage is

A) 60 percent B) 37.5 percent
C) 75 percent D) 15 percent
 
Answer & Explanation Answer: A) 60 percent

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0 1710