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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 trader sells two items at the rate of Rs 400 each. If he gains 15% on one and losses 15% on other, then what is the value (in Rs) of loss ?

A) 18.41 B) 22.14
C) 20.25 D) 24.36
 
Answer & Explanation Answer: A) 18.41

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0 2004
Q:

The marked price of a chair is 40% more than its cost price. If the chair is sold for Rs 520 after a discount of Rs 40, then what will be the profit percentage?

A) 33 B) 40
C) 25 D) 30
 
Answer & Explanation Answer: D) 30

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2 2004
Q:

A trader had 9 quintals of wheat. He sold a part of it at 10% profit and the rest at 20% profit, so that he made a total profit of 14 %. How much wheat did he sell at 20% profit?

A) 540 kg B) 360 kg
C) 180 kg D) 720 kg
 
Answer & Explanation Answer: B) 360 kg

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1 1998
Q:

The marked price of a chair is 40% more than its cost price. If the chair is sold for Rs 520 after a discount of Rs 40, then what will be the profit percentage?

A) 33 B) 40
C) 25 D) 30
 
Answer & Explanation Answer: D) 30

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8 1998
Q:

Rajesh sells a machine for Rs 57 lakhs at a loss. Had he sold it for Rs 67 lakh, his gain would have been 7 times the former loss. Find the cost price of the machine.

A) Rs 58.25 lakhs B) Rs 65.75 lakhs
C) Rs 75.14 lakhs D) Rs 50.75 lakhs
 
Answer & Explanation Answer: A) Rs 58.25 lakhs

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2 1997
Q:

A trader buys 500 kgs of cotton for Rs 9,000. 10% of this cotton is spoiled due to rain. At what rate (Rs/Kg) should he sell the rest to earn 10% profit?

A) 25 B) 30
C) 22 D) 20
 
Answer & Explanation Answer: C) 22

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4 1995
Q:

Mohit buys an old bicycle for Rs 2700 and spends Rs 500 on its repairs. If he sells the bicycle for Rs 3520, then what is his profit percentage?

A) 10 B) 12.5
C) 15 D) 20
 
Answer & Explanation Answer: A) 10

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4 1993
Q:

The marked price of a chair is Rs 550 and a discount of 20% is given on it. What is the selling price (in Rs)?

A) 440 B) 430
C) 470 D) 390
 
Answer & Explanation Answer: A) 440

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0 1991