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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:

Raghuram sells a machine for Rs 43 lakhs at a loss. Had he sold it for Rs 53 lakh, his gain would have been 7 times the former loss. Find the cost price of the machine.

A) Rs 51.75 lakhs B) Rs 59.14 lakhs
C) Rs 36.75 lakhs D) Rs 44.25 lakhs
 
Answer & Explanation Answer: D) Rs 44.25 lakhs

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Q:

A product was sold foe Rs. 4,500 at a profit of 12.5%. What was the amount of profit?

A) Rs. 125 B) Rs. 250
C) Rs. 500 D) Rs. 300
 
Answer & Explanation Answer: C) Rs. 500

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Q:

If Rajan purchase 21 pens for Rs 20 and sell all the pens at the rate of 20 pens for Rs 21, then what will be the profit percentage?

A) 12.5 B) 13.33
C) 10.25 D) 16.66
 
Answer & Explanation Answer: C) 10.25

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Q:

The marked price of an article is Rs 1200 and retailer gets a discount of 25%. If he sells that article for Rs 1200, then what is the profit percentage of retailer?

A) 33.33 B) 25
C) 37.5 D) 16.66
 
Answer & Explanation Answer: A) 33.33

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Q:

The ratio of cost price and selling price 25:26. The percent of profit will be

A) 26% B) 25%
C) 1% D) 4%
 
Answer & Explanation Answer: D) 4%

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Q:

Naveen purchased a gas cylinder and a stove for Rs.4500. He sold the gas cylinder at a gain of 25% and the stove at a loss of 20%, still gaining 4% on the whole. Find the cost of the gas cylinder.

A) Rs.3600 B) Rs.2400
C) Rs.3000 D) Rs.2600
 
Answer & Explanation Answer: B) Rs.2400

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Q:

U starts a business by investing Rs 45000 and V join him after one year with an amount of Rs 33000. After two years from the starting of business, they earned profit of Rs 16400. What will be the U’s share (in Rs) in the profit?

A) 11200 B) 9600
C) 10000 D) 12000
 
Answer & Explanation Answer: D) 12000

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Q:

The ratio of the cost price and selling price of an article is 5 : 3. What is the loss percentage?

A) 40 B) 20
C) 66.66 D) 33.33
 
Answer & Explanation Answer: A) 40

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