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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 rice trader buys 8 quintals of rice for Rs 3,600. 10% rice is lost in transportation. At what rate should he sell to earn 15% profit?

A) Rs 352.1 per quintal B) Rs 517.5 per quintal
C) Rs 575 per quintal D) Rs 582.3 per quintal
 
Answer & Explanation Answer: C) Rs 575 per quintal

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Q:

If Mohan purchase 13 articles for Rs 12 and sells all the articles at the rate of 12 articles for Rs 13, then what will be the profit percentage?

A) 19.47 B) 17.36
C) 11.11 D) 12.5
 
Answer & Explanation Answer: B) 17.36

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3 1824
Q:

12 copies of a book were sold for Rs. 1800 thereby gaining cost price of 3 copies. The cost price of a copy of the book is

A) Rs. 120 B) Rs. 150
C) Rs. 1200 D) Rs. 1500
 
Answer & Explanation Answer: A) Rs. 120

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4 1821
Q:

Raj sells a machine for Rs 51 lakhs at a loss. Had he sold it for Rs 60 lakh, his gain would have been 8 times the earlier loss. What is the cost price of the machine?

A) Rs 59 lakhs B) Rs 52 lakhs
C) Rs 66.375 lakhs D) Rs 45 lakhs
 
Answer & Explanation Answer: B) Rs 52 lakhs

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1 1821
Q:

A used two-wheeler dealer sells a scooter for Rs 46,000 and makes some loss. If he had sold it for Rs 58,000 his profit would have been double his loss. What was the cost price (in Rs) of the scooter?

A) 52000 B) 54000
C) 48000 D) 50000
 
Answer & Explanation Answer: D) 50000

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1 1819
Q:

Rajan sells a machine for Rs 52 lakhs at a loss. Had he sold it for Rs 62 lakh, his gain would have been 9 times the former loss. What is the cost price of the machine?

A) Rs 61 lakhs B) Rs 53 lakhs
C) Rs 67.77 lakhs D) Rs 45 lakhs
 
Answer & Explanation Answer: B) Rs 53 lakhs

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0 1818
Q:

The marked price of a calculator is Rs 750. It is sold at a discount of 22%. If the cost price of the calculator is Rs 500, then what is the profit (in Rs)?

 

A) 85   B)  105  
C)  95   D) 115
 
Answer & Explanation Answer: A) 85  

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4 1806
Q:

A shopkeeper marks his goods 50% more than the cost price and allows a discount of 25%. His profit or loss percentage is:

A) 37.5% B) 25.5%
C) 12.5% D) 25%
 
Answer & Explanation Answer: C) 12.5%

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