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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 vendor buys some lemons at the rate of 11 for Rs 10 and sells at the rate of 4 for Rs 5. What will be the result?

A) 37.5 percent loss B) 27.27 percent gain
C) 37.5 percent gain D) 27.2 percent loss
 
Answer & Explanation Answer: C) 37.5 percent gain

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4 1804
Q:

A wholesaler sells a jacket to a retailer at a profit of 25% and the retailer sells it to a customer at a profit of 20%. If the customer pays Rs. 2,400, what had it cost (in Rs) the wholesaler?

A) 2000 B) 1600
C) 1800 D) 2250
 
Answer & Explanation Answer: B) 1600

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3 1802
Q:

The ratio of the cost price and selling price of a bulb is 15 : 18. What is the profit percentage?

A) 16.66 B) 14.28
C) 20 D) 22
 
Answer & Explanation Answer: C) 20

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1 1801
Q:

The marked price of an article is 20% more than its cost price. If 5% discount is given on the marked price, then what is the profit percentage?

A) 5 B) 14
C) 15 D) 25
 
Answer & Explanation Answer: B) 14

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3 1798
Q:

A man sells an article at 15% profit. If he had sold it for . 6 more, he would have gained 18%. The man bought the article for

A) 100 B) 150
C) 200 D) 250
 
Answer & Explanation Answer: C) 200

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2 1797
Q:

A shopkeeper, sold walnuts at the rate Rs 1,190 a kg and bears a loss of 10%. Now if he decides to sell it at Rs 1,249.5 per kg, what will be the result?

A) 11 percent loss B) 5.5 percent loss
C) 5.5 percent gain D) 11 percent gain
 
Answer & Explanation Answer: B) 5.5 percent loss

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3 1797
Q:

A dishonest milkman buys milk at Rs 30 per litre and adds 1/5 of water to it and sells the mixture at Rs 32 per litre. What will be his gain?

A) 33.33 percent B) 50 percent
C) 28 percent D) 25 percent
 
Answer & Explanation Answer: C) 28 percent

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3 1796
Q:

A shopkeeper offers 2.5% discount on cash purchases . What cash amount would Rohit pay for a cycle , the marked price of which is Rs.3600 ?

A) Rs. 3490 B) Rs. 3500
C) Rs. 3510 D) Rs. 3520
 
Answer & Explanation Answer: C) Rs. 3510

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1 1795