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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 expects a gain of 45/2 % on his C.P. If his sale was Rs. 392, then find his profit.

A) Rs. 70 B) Rs. 72
C) Rs. 74 D) Rs. 76
 
Answer & Explanation Answer: B) Rs. 72

Explanation:

We Know, S.P=100+gain percent100×C.P 

 

 ⇒C.P =100122.50×392

            

Profit = 392−320 = Rs72

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23 11666
Q:

A women goes to market with Rs.500 to buy oranges.the prices of the oranges have decreased by 10% so he could buy 2kg more with the amount she had.What was the original price of the oranges ?

A) 22.77 B) 25.77
C) 27.77 D) 29.77
 
Answer & Explanation Answer: C) 27.77

Explanation:

If the price of the oranges decreases by 10%, the woman would save 10% of the money that is Rs.50 to buy the same amount as before.Now in Rs. 50 she can buy 2 kg more, therefore the current price of 1 kg of oranges is Rs25.Now, this current price is after 10% reduction.

 

 

 

Therefore, the original price =  25/0.9  = Rs. 27.77

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37 10968
Q:

A trader marked the price of the T.V. 30% above the cost price of the T.V. and gave the purchaser 10% discount on the marked price, thereby gaining Rs.340. Find the cost price of the T.V ?

A) Rs. 2000 B) Rs. 1600
C) Rs. 2200 D) Rs. 2100
 
Answer & Explanation Answer: A) Rs. 2000

Explanation:

Let 'x' be the cost price.
Now Marked price = x + 30x/100 = 13x/10
10% discount = 10/100 x 13x/10 = 13x/100
Selling price = 13x/10 - 13x/100 = 117x/100
Given gain = 340
Here gain = 117x/100 - x = 17x/100 = 340 => x = Rs. 2000.

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13 10895
Q:

When a women sells 20 articles for Rs. 160, there is 40% loss. How many articles should she sell for Rs. 240 in order to earn 20% profit ?

A) 16 B) 15
C) 17 D) 14
 
Answer & Explanation Answer: B) 15

Explanation:

Given when she sells at Rs. 160 for 20 articles, she get 40% loss.

 

Then, to get 20% profit selling at Rs. 240 for let 'P' articles

 

=> 1602060=240p120

 

=> 120 x 160 x P = 20 x 70 x 240

 

=> P =  15 articles.

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26 10726
Q:

Raghu earns 25% on an investment but loses 10% on another investment. If the ratio of the two investment is 3:5. What is the gain or loss on two investments taken together ?

A) 1.251 % B) 3.125 %
C) 7.21 % D) 9.451 %
 
Answer & Explanation Answer: B) 3.125 %

Explanation:

Taking the 2 investments to be 3x and 5x respectively
Total income of Raghu = (3x) x 1.25 + (5x) x 0.9 = 8.25
Therefore, Gain% = 0.25/8 x 100 = 3.125 %.

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11 9779
Q:

ITC sells one product at a profit of 20% another at a loss of 20% at the same selling price. What is the loss incurred by ITC?

A) 1% B) 2%
C) 4% D) 0%
 
Answer & Explanation Answer: C) 4%

Explanation:

loss % = common gain or loss102 %

 

           = (20/10)x(20/10)% = 4%

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18 9596
Q:

A quantity of tea is sold at Rs. 5.75 per kilogram. The total gain by selling the tea at this rate is Rs. 60. Find the quantity of tea being sold if a profit of 15% is made on the deal ?

A) 72 kgs B) 80 kgs
C) 76 kgs D) 84 kgs
 
Answer & Explanation Answer: B) 80 kgs

Explanation:

Say total cost price of tea is x.
Then total profit at a rate of 15% is = (15x/100)
According to question,
15x/100 = 60
so x = 400
C.p of the tea is Rs. 400.
so total selling price will be = (400+60) = Rs.460
so the quantity of the tea will be = (460/5.75) = 80kg.

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12 9581
Q:

A driver of auto rickshaw makes a profit of 20% on every trip when he carries 3 passengers and the price of petrol is Rs. 30 a litre. Find the % profit for the same journey if he goes for 4 passengers per trip and the price of petrol reduces to Rs. 24 litres ?

A) 68% B) 80%
C) 75% D) 100%
 
Answer & Explanation Answer: D) 100%

Explanation:

When 3 passengers income was 3x
expense= Rs.30 
profit =20% of 30 = Rs.6 
That means his earning is Rs.36. so that per passenger fare must be Rs.12.

When 4 passengers
earning = 12x4=Rs.48.
expense =Rs.24.
profit = Rs.24 = 100%

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17 9499