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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:

The cash difference between the selling prices of an article at a profit of 4% and 6% is Rs 3. The ratio of two selling prices is

A) 51:52 B) 52:53
C) 53:54 D) 54:55
 
Answer & Explanation Answer: B) 52:53

Explanation:

Let the Cost price of article is Rs. x

Required ratio = (104% of x) / (106% of x)

                            =104/106

                            =52/53 = 52:53                     

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39 22977
Q:

In what ratio should water and wine be mixed so that after selling the mixture at the cost price a profit of 33.33% is made?

A) 1:4 B) 1:3
C) 2:3 D) 3:4
 
Answer & Explanation Answer: B) 1:3

Explanation:

33.33% profit means there is one part water and 3 part is pure wine. so the required ratio of water and wine in the mixture is 1:3

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64 22756
Q:

A, B and C invest in the ratio of 3 : 4: 5. The percentage of return on their investments are in the ratio of  6 : 5 : 4. Find the total earnings, If B earns Rs. 250 more than A :

A) Rs. 6000 B) Rs. 7250
C) Rs. 5000 D) None of these
 
Answer & Explanation Answer: B) Rs. 7250

Explanation:

                                         A                  B                   C

 

investment                    3x                 4x                  5x

 

Rate of return              6y%              5y%                4y%

 

Return                        18xy100  20xy100  20xy100                

 

               Total = (18+20+20) = 58xy100

 

     B's earnings - A's earnings  = 2xy100 = 250

 

     Total earning = 58xy100 = 7250

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67 22343
Q:

Ajay bought 15 kg of dal at the rate of Rs 14.50 per kg and 10 kg at the rate of Rs 13 per kg. He mixed the two and sold the mixture at the rate of Rs 15 per kg. What was his total gain in this transaction ?

A) Rs 1.10 B) Rs 11
C) Rs 16.50 D) Rs 27.50
 
Answer & Explanation Answer: D) Rs 27.50

Explanation:

Cost price of 25 kg = Rs. (15 x 14.50 + 10 x 13) = Rs. 347.50.
Sell price of 25 kg = Rs. (25 x 15) = Rs. 375.
profit = Rs. (375 — 347.50) = Rs. 27.50.

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45 22243
Q:

A milk man has 20 liters of milk. If he mixes 5 liters of water, which is freely available, in 20 liters of pure milk.If the cost of pure milk is Rs.18 per liter,then the profit of the milkman, when he sells all the mixture at cost price is:

A) 20% B) 25%
C) 33.33% D) 18%
 
Answer & Explanation Answer: B) 25%

Explanation:

when the water is freely available and all the water is sold at the price of the milk, then the water gives the profit on the cost of 20 liters of milk.

 Therefore, profit percentage = (5/20) x 100 =25 %       [ Profit %= (Profit/C.P)*100]

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55 20397
Q:

By mixing two qualities of pulses in the ratio 2: 3 and selling the mixture at the rate of Rs 22 per kilogram, a shopkeeper makes a profit of 10 %. If the cost of the smaller quantity be Rs 14 per kg, the cost per kg of the larger quantity is:

A) Rs 23 B) Rs 25
C) Rs 24 D) Nonof these
 
Answer & Explanation Answer: C) Rs 24

Explanation:

Cost Price of 5 kg = Rs.(14*2 + x*3) = (28 + 3x).

Sell price of 5 kg = Rs. (22x5) = Rs. 110.

[{110 - (28 + 3x)}/(28 + 3x) ]* 100 =10

[82-3x/28 + 3x]= 1 / 10

820 - 30x = 28 +3x 

33x = 792 

x = 24

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59 20190
Q:

If the selling price of a mat is five times the discount offered and if the percentage of discount is equal to the percentage profit, find the ratio of the discount offered to the cost price.

A) 6:31 B) 11:30
C) 7:30 D) 31:6
 
Answer & Explanation Answer: C) 7:30

Explanation:

Since S.P. = 5 (M.P. - S.P.) => 5 M.P. = 6 S.P.
M.P. = (6/5) S.P.
Since the percentage discount = Percentage profit,
65S.P - S.P65S.P×100 = S.P -C.PC.P×100
Therefore, 1/6 = (S.P/C.P) – 1 => S.P = (7/6) C.P
M.P = 6/5 S.P = 6/5 x 7/6 C.P = 7/5 C.P
Therefore, Ratio of discount to C.P
= (M.P – S.P)/C.P = [{(7/5)C.P - (7/6)C.P} / C.P.]
= 7/30

 

Therefore, the ratio is 7 : 30

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32 20177
Q:

A man saves 20% of his monthly salary. If an account of dearness of things he is to increase his monthly expenses by 15%, he is only able to save Rs. 400 per month. What is his monthly salary ?

A) Rs. 6000 B) Rs. 4500
C) Rs. 5000 D) Rs. 6500
 
Answer & Explanation Answer: C) Rs. 5000

Explanation:

Income = Rs. 100

Expenditure = Rs. 80

Savings = Rs. 20

Present Expenditure 80x(15/100) = Rs. 12 = 80 + 12 = Rs. 92

Present Savings = 100 – 92 = Rs. 8

100 ------ 8
? --------- 400 => 5000

His salary = Rs. 5000

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