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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 satellite airtime bill costs Rs. 8 for 5 minutes 40 seconds. What is the cost in rupees for 4 minutes 20 seconds? (Round upto one decimal).

A) 6.1 B) 6
C) 6.2 D) 6.3
 
Answer & Explanation Answer: A) 6.1

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Q:

A shopkeeper purchased a chair whose marked price is Rs 1400, at two successive discount of 20% and 30% respectively. If he sells the chair for Rs 1176, then what is the profit percentage?

A) 50 B) 33.33
C) 37.5 D) 57.5
 
Answer & Explanation Answer: A) 50

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3 953
Q:

A shopkeeper cheats to the extent of 8% while buying and selling fruits, by using tampered weights, his total gain in percentage is

A) 16.25 B) 16.44
C) 16.75 D) 16.5
 
Answer & Explanation Answer: B) 16.44

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3 953
Q:

On Selling a book at 9/14 of the marked price there is loss of 10%. What will be the ratio of marked price and cost price of the book?

 

A) 5 : 9 B) 5 : 8  
C) 7 : 4   D) 7 : 5
 
Answer & Explanation Answer: D) 7 : 5

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3 951
Q:

After buying a toy for Rs. 66, Raghu managed to sell it at a profit of 15%. The selling price of the toy was

A) Rs. 75.90 B) Rs. 70.80
C) Rs. 75.20 D) Rs. 76.90
 
Answer & Explanation Answer: A) Rs. 75.90

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3 937
Q:

How much quantity (in kg) of wheat costing Rs 84 per kg must be mixed with 81 kg of wheat costing Rs 60 per kg so that on selling the mixture at Rs 75.9 per kg, there is a gain of 15%?

 

A) 27 B) 20.5
C) 22.75 D) 24
 
Answer & Explanation Answer: A) 27

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4 932
Q:

Neeraj purchased a few shirts for his shop at cost prices ranging from Rs. 400 to Rs. 550 and sold at prices ranging from Rs. 450 to Rs. 650. What is the maximum profit that might be made in selling 10 shirts?

A) Rs. 2800 B) Rs. 2500
C) Rs. 2400 D) Rs. 2000
 
Answer & Explanation Answer: B) Rs. 2500

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0 929
Q:

If selling price is Rs. 72 and Gain percentage = 20%, calculate the Cost Price.

A) Rs.60 B) Rs.58
C) Rs.61 D) Rs.59
 
Answer & Explanation Answer: A) Rs.60

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4 923