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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 shopkeeper marks the price of his table 30% above the cost price. He allows his customers a discount of 12% on the marked price. What is the profit percentage?

 

A) 14.4 B) 18
C) 16.66 D) 12.5
 
Answer & Explanation Answer: A) 14.4

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0 816
Q:

Rajat sells a machine for Rs 53 lakhs at a loss. Had he sold it for Rs 64 lakh, his gain would have been 10 times the former loss. Find the cost price of the machine.

A) Rs 63 lakhs B) Rs 69.3 lakhs
C) Rs 45 lakhs D) Rs 54 lakhs
 
Answer & Explanation Answer: D) Rs 54 lakhs

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0 813
Q:

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
 
Answer & Explanation Answer: C) 4.3 percent loss

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0 810
Q:

Puneet purchases 5 dozens of oranges at the rate of Rs 120 per dozen. He sold each one of them at the rate of Rs 11.5. What is the profit (inpercentage) of Puneet?

A) 18 B) 30
C) 12 D) 15
 
Answer & Explanation Answer: D) 15

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1 808
Q:

A wholesaler sells a watch to a retailer at a gain of 20% and the retailer sells it to a customer at a loss of 10%. If the customer pays Rs 874.8, what had it cost the wholesaler?

A) Rs 945 B) Rs 810
C) Rs 994 D) Rs 675
 
Answer & Explanation Answer: B) Rs 810

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1 806
Q:

What is the value of 513-144 - 81 - 64  ?

A) 22 B) 21
C) 28 D) 19
 
Answer & Explanation Answer: A) 22

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1 805
Q:

A rice trader buys 12 quintals of rice for Rs 1,870. 15% rice is lost in transportation. At what rate should he sell to earn 20% profit?

A) Rs 110.3 per quintal B) Rs 187 per quintal
C) Rs 220 per quintal D) Rs 224 per quintal
 
Answer & Explanation Answer: C) Rs 220 per quintal

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3 800
Q:

When a discount of 25% is given on a box of popcorn, the profit is 25%. If the discount is 10%, then the profit is

A) 35 percent B) 50 percent
C) 20 percent D) 65 percent
 
Answer & Explanation Answer: B) 50 percent

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