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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:

By selling 90 pens for Rs 80 a man loses 20%. What should be the selling price (in Rs) of 90 pens for 20% profit?

A) 90 B) 100
C) 110 D) 120
 
Answer & Explanation Answer: D) 120

Explanation:
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12 2720
Q:

Raghu bought an article for Rs. 14,360 and spent Rs. 240 on its transportation. At what amount he has to sell it to get a profit of 15%? (in Rs.)

A) ₹ 16,000 B) ₹ 16,790
C) ₹ 16,150 D) ₹ 16.500
 
Answer & Explanation Answer: B) ₹ 16,790

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Q:

The difference between cost price and selling price is Rs 451. If loss percentage is 11%, then what is the selling price (in Rs)?

A) 3254 B) 3649
C) 3857 D) 4100
 
Answer & Explanation Answer: B) 3649

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7 2700
Q:

Cost of 8 pencils, 5 pens and 3 erasers is Rs 111. Cost of 9 pencils, 6 pens and 5 erasers is Rs 130. Cost of 16 pencils, 11 pens and 3 erasers is Rs 221. What is the cost (in Rs) of 39 pencils, 26 pens and 13 erasers?

A) 316 B) 546
C) 624 D) 482
 
Answer & Explanation Answer: B) 546

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5 2688
Q:

A bottle is sold at a loss of 9%. Had it sold for Rs. 15 more, a profit of 25/2% would have gained. What is the cost price of the bottle (approx)?

A) Rs. 32 B) Rs. 35
C) Rs. 36 D) Rs. 33
 
Answer & Explanation Answer: B) Rs. 35

Explanation:

Let the cost price of the bottle = Rs. 100

Selling price of the bottle = Rs. 100 - Rs. 9 = Rs. 91

Then, from the given data,

=> 112 (1/2) - 91 = 15

=> 21 (1/2) = 15

=> 43 = 15

Then 100 = ?

1500/43 = 34.885 =~ 35

Hence, the cost price of the bottle = Rs. 35

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5 2645
Q:

A man sells two articles. The cost price of the first article is equal to the selling price of the second article. The first article is sold at a profit of 20% and the second articles is sold at a loss of 20%. What is the ratio of the selling price of the first article and the cost price of the second article?

A) 24 : 25 B) 25 : 24
C) 29 : 27 D) 27 : 29
 
Answer & Explanation Answer: A) 24 : 25

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Q:

A wholesaler sells a watch to a retailer at a gain of 32% and the retailer sells it to a customer at a loss of 20%. If the customer pays Rs 1,953.6, what had it cost the wholesaler?

A) Rs 2063 B) Rs 2394
C) Rs 1850 D) Rs 1637
 
Answer & Explanation Answer: C) Rs 1850

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5 2562
Q:

Buy at 30 cell at 50. What is the profit percentage?

A) 20% B) 40%
C) 45% D) 35%
 
Answer & Explanation Answer: B) 40%

Explanation:

Cost price = Rs. 30

Selling price = Rs. 50

Gain = Rs. 20

Profit % = Gain/cost price x 100 = 20/50 x 100 = 40%

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