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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

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

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

A) 12.5

B) 13.75

C) 16.25

D) 10.25

Answer & Explanation Answer: A) 12.5

Explanation:

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2 1793

Ramesh sold a book at a loss of 30%. If he had sold it for Rs. 140 more, he would have made a profit of 40%. The cost price of the book is

A) Rs. 280	B) Rs. 200
C) Rs. 260	D) Rs. 300

A) Rs. 280

B) Rs. 200

C) Rs. 260

D) Rs. 300

Answer & Explanation Answer: B) Rs. 200

Explanation:

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1 1786

The total cost of a microwave oven with mixer was Rs 36750. The mixer was sold at a profit of 32% and the microwave oven at a loss of 22%. If the sale price was the same in both the items, then the cost price of the cheaper item was _____.

A) Rs 13100	B) Rs 18375
C) Rs 13650	D) Rs 16850

A) Rs 13100

B) Rs 18375

C) Rs 13650

D) Rs 16850

Answer & Explanation Answer: C) Rs 13650

Explanation:

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3 1777

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

A) 2106

B) 2600

C) 3094

D) 2208

Answer & Explanation Answer: A) 2106

Explanation:

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2 1776

If the selling price is doubled, the profit triples. The profit percent is

A) 66.6%	B) 150%
C) 100%	D) 190%

A) 66.6%

B) 150%

C) 100%

D) 190%

Answer & Explanation Answer: C) 100%

Explanation:

Let CP be x and SP be y.

3(y –x) = (2y –x)y = 2x

Profit = y –x = 2x –x = x

Profit% = x/x X 100 = 100%

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2 1772

A shopkeeper, sold dried apricots at the rate Rs 1,310 a kg and bears a loss of 13%. Now if he decides to sell it at Rs 1,441 per kg, what will be the result?

A) 8.6 percent loss	B) 4.3 percent gain
C) 4.3 percent loss	D) 8.6 percent gain

A) 8.6 percent loss

B) 4.3 percent gain

C) 4.3 percent loss

D) 8.6 percent gain

Answer & Explanation Answer: C) 4.3 percent loss

Explanation:

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0 1769

A vendor buys bananas at 4 for Rs 3 and sells at 3 for Rs 4. What will be the result?

A) 43.75% profit	B) 77.7% loss
C) 77.7% profit	D) 43.75% loss

A) 43.75% profit

B) 77.7% loss

C) 77.7% profit

D) 43.75% loss

Answer & Explanation Answer: C) 77.7% profit

Explanation:

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0 1754

The difference between cost price and selling price is Rs 12.54. If loss percentage is 33%, then what is the cost price (in Rs)?

A) 35.44	B) 50.54
C) 41	D) 38

A) 35.44

B) 50.54

C) 41

D) 38

Answer & Explanation Answer: D) 38

Explanation:

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0 1750

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