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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 retailer buys product from a shopkeeper at discount of 40% on the list price (marked price) and sells them to the customer at a discount of 25% on the list price.What is his profit percentage ?

A) 10% B) 15%
C) 20% D) 25%
 
Answer & Explanation Answer: D) 25%

Explanation:

Let the list price be Rs.100. 

 

Therefore, the retailer is buying the products at Rs.60 and selling it to the customer at Rs.75, earning a profit of Rs.15.

 

Therefore, his percentage is = 1560x100 = 25%

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17 8287
Q:

In a certain Business, the profit is 220% of the cost. If the cost increases by 25% but the selling price remains constant, approximately what percentage of the selling price is the profit ?

A) 61% B) 75%
C) 55% D) 81%
 
Answer & Explanation Answer: A) 61%

Explanation:

Let C.P.= Rs. 100.

Then, Profit = Rs.220, 

S.P. = Rs.320.

 

New C.P. = 125% of Rs. 100 = Rs. 125 

New S.P. = Rs.320.

Profit = Rs. (320 - 125) = Rs. 195

 

Required percentage = 195320×100== 60.9 =~ 61%

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7 7955
Q:

Selling an article at a profit of 20%, Aman gets Rs. 400 more than selling at a loss of 20%. The cost price of the article is ?

A) Rs.1000 B) Rs. 1020
C) Rs.1210 D) Rs.1140
 
Answer & Explanation Answer: A) Rs.1000

Explanation:

Cost price of the article is given by

= 400x100/(20+20)

= Rs.1000

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21 7682
Q:

The market price of an article was 40% more than its cost price. Rana was going to sell it at market price to a customer, but he showed Rana some defects in the article, due to which Rana gave him a discount of 28.57%. Next day he came again and showed Rana some more defects, hence he gave him another discount that was equal to 12.5% of the cost price. What was the approximate profit/loss to Rana ?

A) Loss of 12.5% B) Profit of 12.5%
C) Loss of 24.5% D) Profit of 22.5%
 
Answer & Explanation Answer: A) Loss of 12.5%

Explanation:

Let the cost price be Rs. 100
Then, market price is Rs. 140
Now, the first discount is of 28.57% Rs.140 =~ Rs. 40
Hence, its selling price = 140 - 40 = Rs. 100
Now since Rana is selling at cost price, any further discount will be equal to loss percentage.
The next dicount of 12.5% will be the loss percentage to Rana.

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11 7647
Q:

A man purchases two articles, on selling one at loss of 20% while the other at a profit of 25%, he gains the overall profit of 5% than find the ratio of their selling price ?

A) 8 : 62.5 B) 55 : 8
C) 8 : 65 D) 64.4 : 9
 
Answer & Explanation Answer: A) 8 : 62.5

Explanation:

                      Article I                   Article II
                         -20                         25%
                                        5%
                         20%                       25%
                     

                          4              :              5

Now, Selling of first article = (4-20%) = 0.8

Selling of second article = (5+25%) =  6.25

Therefore the ratio of selling price = 8 : 62.5

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21 7359
Q:

A supplier supplies cartridges to a news paper publishing house. He earns a profit of 25% by selling cartridges for Rs. 1540. Find the cost price of the Cartridges ?

A) Rs. 1100 B) Rs. 1793.4
C) Rs. 1440 D) Rs. 1232
 
Answer & Explanation Answer: D) Rs. 1232

Explanation:

Let Cost Price(C.P) = P
gain% = {(S.P-C.P)/C.P} x 100
25 = {(1540-P)/P} x 100
25/100 = (1540-P)/P
=> P = 4(1540)-4P
=> 5P = 4(1540)
=> P = 1232
So, Cost Price = Rs. 1232

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11 7315
Q:

If a trader sold two cars each at Rs. 325475 and gains 12% on the first and loses 12% on the second, then his profit or loss percent on the whole is ?

A) 1.44% loss B) 14.4% loss
C) 0% D) 14.4% profit
 
Answer & Explanation Answer: A) 1.44% loss

Explanation:

SP of each car is Rs. 325475, he gains 12% on first car and losses 12% on second car.
In this case, there will be loss and percentage of loss is given by

= [(profit%)(loss%)]/100 = (12)(12)/100 % = 1.44%

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2 7254
Q:

A retailer cheats his wholesaler and customer both. He purchases 19% more from the wholesaler and sells 15% less while selling to its customer. What is profit percentage by selling the goods at cost price?

A) 35% B) 40%
C) 42% D) 46%
 
Answer & Explanation Answer: B) 40%

Explanation:

Tota profit percentage = (119 x 100/85) - 100 = 3400/85 = 40% 

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