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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 and B invest Rs. 3000 and Rs. 2400 respectively in a business. If after one year there is a loss of Rs. 720, how much loss will B bear? (Loss or Profit is in proportion to their investments)

A) Rs. 72 B) Rs. 320
C) Rs..400 D) Rs. 360
 
Answer & Explanation Answer: B) Rs. 320

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Q:

A shopkeeper allows a discount of 20% to his customers and still gains 25%. Find the Marked price of an article which costs Rs.600 to the shopkeeper.

A) Rs.937.50 B) Rs.937
C) Rs.930 D) Rs.1000
 
Answer & Explanation Answer: A) Rs.937.50

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Q:

Ramesh sold a book at a loss of 30%. If he had sold it for Rs. 140 more, he would have made a profit of 40%. The cost price of the book is

A) Rs. 280 B) Rs. 200
C) Rs. 260 D) Rs. 300
 
Answer & Explanation Answer: B) Rs. 200

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Q:

A shopkeeper by selling 22 Skechers shoes, earns a profit equal to the selling price of 6 Skechers shoes. His profit percentage is:

A) 27.2 percent B) 37.5 percent
C) 54.4 percent D) 16.9 percent
 
Answer & Explanation Answer: B) 37.5 percent

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Q:

On selling 25 shirts, a retailer earns profit equal to the cost price of 8 shirts. What is the profit percentage?

A) 47.05 B) 32
C) 25 D) 34.5
 
Answer & Explanation Answer: B) 32

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Q:

Naveen purchased a gas cylinder and a stove for Rs.4500. He sold the gas cylinder at a gain of 25% and the stove at a loss of 20%, still gaining 4% on the whole. Find the cost of the gas cylinder.

A) Rs.3600 B) Rs.2400
C) Rs.3000 D) Rs.2600
 
Answer & Explanation Answer: B) Rs.2400

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Q:

Puneet purchases 5 dozens of oranges at the rate of Rs 120 per dozen. He sold each one of them at the rate of Rs 11.5. What is the profit (inpercentage) of Puneet?

A) 18 B) 30
C) 12 D) 15
 
Answer & Explanation Answer: D) 15

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Q:

The difference between cost price and selling price is Rs 12.54. If loss percentage is 33%, then what is the cost price (in Rs)?

A) 35.44 B) 50.54
C) 41 D) 38
 
Answer & Explanation Answer: D) 38

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