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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 shopkeeper gives 20% discount on the marked price of a book. He provides 1 pair of books free with the sale of 9 pair of books. In the whole transaction, he gets profit of 26%. Find the percentage increase in marked price from the cost price.

A) 35% B) 65%
C) 75% D) 26%
 
Answer & Explanation Answer: C) 75%

Explanation:

Given,Let the cost price of single book be Rs. 100.

The cost price of (9 + 1) = 10 pair i.e. 20 books = Rs. (100 × 20) = Rs. 2000.He gets profit of 26%.

So, the selling price of 9 pair i.e. 18 books = Rs. 2000 × (126/100) = Rs. 2520

Then,the selling price of single book = Rs. 2520/18 = Rs. 140

He gives 20% discount on the marked price of a book.

That means, when the selling price is Rs. 80 then the marked price is Rs. 100.

∴When the selling price of single book is Rs. 140, the marked price = Rs. 140 × (100/80) = Rs. 175

∴The percentage increase in marked price from the cost price = (175 –100)% = 75%

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7 5947
Q:

A sold an article to B at 40% profit and B sold it to C at 50% profit, then what will be profit percent with respect to A ?

A) 97 % B) 110 %
C) 135 % D) 115 %
 
Answer & Explanation Answer: B) 110 %

Explanation:

% Profit with respect to A = 40 + 50 + (40 x 50)/100 = 90 + 20 = 110 %.

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2 5926
Q:

If books bought at prices ranging from Rs 200 to Rs 350 are sold at prices ranging from Rs 300 to Rs 425, what is the greatest possibleprofit that might be made in selling eight books.

A) 800 B) 1200
C) 1600 D) 1800
 
Answer & Explanation Answer: D) 1800

Explanation:

least cost price      = 200*8 = 1600
greatest sold price = 425 * 8 = 3400
profit required = 3400- 1600 = 1800

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8 5900
Q:

The profit earned by selling an article for Rs.753 is equal to the loss incurred when the same article is sold for Rs.455.What should be the sale price for making 50% profit ?

A) Rs.855 B) Rs.955
C) Rs.906 D) Rs.896
 
Answer & Explanation Answer: C) Rs.906

Explanation:

Let C.P =Rs. x

 

Then as given, (753 - x ) = (x - 455)

=>2x = 1208 => x = 604

 There fore S.P= 150% of 604 => Rs. 150100×604= Rs.906

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13 5876
Q:

Anil purchases two books for Rs.100. He sells first at loss of 5% and second al 20% profit. If he gets Overall profit of 5% then what is cost of first book?

A) 58 B) 60
C) 55 D) 45
 
Answer & Explanation Answer: B) 60

Explanation:

-5-----------------------5-------------------20

5-(-5) = 10

20-5= 15

Ratio of cost price of book1 and book2 = 3:2 

Then cost price of book 1 is given by

(3/5) x 100 = Rs. 60.

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20 5749
Q:

12 days payment to the servant in a cloth showroom in festival season is Rs. 400 plus one shirt. The servant leaves after 9 days and recieves Rs. 280 and a shirt. What is the price of the shirt ? 

A) Rs. 80 B) Rs. 120
C) Rs. 70 D) Rs. 100
 
Answer & Explanation Answer: A) Rs. 80

Explanation:

The servant worked for 9 days instead of 12 days, he should receive 9/12 of his total payment

Let the price of 1 shirt be Rs. S 

i.e., 3/4 (400 + S).

However, the question states that the servant receive Rs. 280 + S where S is the price of the shirt.

By equating the two equations we get 3/4 (400 + S) = 280 + S.

Therefore, Price of the shirt S = Rs. 80.

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22 5635
Q:

A shop keeper sells an article at a loss of 8%, but when he increases the selling price of the article by Rs. 164 he earns a profit of 2.25% on the cost price. If he sells the same article at Rs. 1760, what is his profit percentage?

A) 2.5% B) 5%
C) 10% D) 7.5%
 
Answer & Explanation Answer: C) 10%

Explanation:

According to the given data,

Let Cost price of the article be 'cp'

Then,

102.25 cp - 92 cp = 164 x 100

10.25 cp = 16400

cp = 1600

Now, if he sells at Rs. 1760

Profit = 1760 - 1600 = 160

 

Profit% = 160/1600 x 100 = 10%.

 

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10 5632
Q:

If a trader sold two cars each at Rs. 404415 and gains 15% on the first and loses 15% on the second, then his profit or loss percent on the whole is ?

A) 1.44 % B) 2.02 %
C) 1.04 % D) 2.25 %
 
Answer & Explanation Answer: D) 2.25 %

Explanation:

SP of each car is Rs. 404415, he gains 15% on first car and losses 15% on second car.

In this case, there will be loss and percentage of loss is given by = [(profit%)(loss%)]/100
= (15)(15)/100 % = 2.25%
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4 5607