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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:

Sahil sold an item for Rs. 280 at a loss of 20%. The cost price of the item was

A) Rs. 336 B) Rs. 340
C) Rs. 350 D) Rs. 1400
 
Answer & Explanation Answer: C) Rs. 350

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Q:

Mr. Akbar sold a bus for Rs.20,400 with a loss of 15%. At what price should the price should the bus be sold to get a profit of 15%?

A) Rs.27,400 B) Rs.27,300
C) Rs.27,500 D) Rs.27,600
 
Answer & Explanation Answer: D) Rs.27,600

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1 765
Q:

The marked price of a shirt is Rs 1800 and retailer gets a discount of 40%. If he sells that shirt for Rs 1800, then what is the profit percentage of retailer?

 

A) 40 B) 66.66
C) 37.5 D) 62.5
 
Answer & Explanation Answer: B) 66.66

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Q:

The S.P of a washing machine is 1 1/3 of its C.P. Find the gain percent.

A) 33% B) 33 1/3%
C) 66 1/3% D) 66%
 
Answer & Explanation Answer: B) 33 1/3%

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1 754
Q:

A shop keeper purchased 10 kg of rice and 20 kg of sugar at Rs. 75 and Rs. 85 per kg respectively. On selling, he gained 20% on rice and 10% on sugar. What was the total sale price?

A) Rs. 2695 B) Rs. 2770
C) Rs. 2800 D) Rs. 2750
 
Answer & Explanation Answer: B) Rs. 2770

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Q:

How much is the maximum % discount that sheela can offer to her customer on her Marked Price so that she sells her product at no profit or loss, if she had already marked her product by 25% more than the cost price?

A) 25% B) 20%
C) 30% D) 40%
 
Answer & Explanation Answer: B) 20%

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0 745
Q:

Ritesh sold a pen for Rs. 36 with a profit of 20%. If it were sold for Rs.33, then what could be the percentage of profit or loss?

A) 10% Profit B) 15% Profit
C) 12% Loss D) 18% Loss
 
Answer & Explanation Answer: A) 10% Profit

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Q:

Dinesh purchases 10 dozens of apples at the rate of Rs 180 per dozen. He sold each one of them at the rate of Rs 19.5. What is the profit (in percentage) of Dinesh?

 

A) 30 B) 15
C) 18 D) 25
 
Answer & Explanation Answer: A) 30

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