Profit and Loss Questions

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:

Mr. Kiran sold a bus for Rs. 18700 at a loss of 15%. At what price should the bus be sold to get a profit of 15%?

A) Rs. 25523 B) Rs. 25522
C) Rs. 25300 D) Rs. 25521
 
Answer & Explanation Answer: C) Rs. 25300

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Profit and Loss
Exam Prep: Bank Exams

4 1871
Q:

If a merchant offers a discount of 4% on the list price, then she makes a loss of 10%. What % profit or % loss will she make if she sells at a discount of 20% of the list price?

A) 25 percent loss B) 4 percent loss
C) 50 percent profit D) 26 percent profit
 
Answer & Explanation Answer: A) 25 percent loss

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Profit and Loss
Exam Prep: Bank Exams

2 1863
Q:

An item is sold at two successive gains of 30% and 20%. If the final selling price is Rs 31200, then what is the cost price (in Rs)?

 

A) 15000 B) 20000
C) 22250 D) 24000
 
Answer & Explanation Answer: B) 20000

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Profit and Loss
Exam Prep: Bank Exams

5 1857
Q:

A trader had 960 kgs of rice. He sold a part of it at 20% profit and the rest at 8% profit, so that he made a total profit of 12%. How much rice (in kgs) did he sell at 8% profit?

A) 460 B) 560
C) 540 D) 640
 
Answer & Explanation Answer: D) 640

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Profit and Loss
Exam Prep: Bank Exams

3 1846
Q:

Deepak found that he had made a loss of 10% while selling his smartphone. He also found that had he sold it for ` 50more, he would have made a profit of 5%. The initial loss was what percentage of the profit earned, had he sold the smartphone for a 5% profit ?

A) 100% B) 200%
C) 75% D) 85%
 
Answer & Explanation Answer: B) 200%

Explanation:

Report Error

View Answer Report Error Discuss

Filed Under: Profit and Loss

1 1846
Q:

Shiv sold a shirt for Rs. 184 at a loss of 8%. To make a profit of 5% he should have sold the shirt for

A) Rs. 210 B) Rs. 197
C) Rs. 207.92 D) Rs. 200
 
Answer & Explanation Answer: A) Rs. 210

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Profit and Loss
Exam Prep: AIEEE , Bank Exams , CAT

10 1843
Q:

I gain 19% if I sell an article for Rs. 595. What would be my gain or loss percentage if I sell it for Rs. 475?

A) Gain 5% B) Loss 5%
C) Loss 10% D) Gain 10%
 
Answer & Explanation Answer: B) Loss 5%

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Profit and Loss
Exam Prep: Bank Exams

1 1842
Q:

A trader allowed a discount of 15% on a trolley bag having list price of Rs 1360 and earns a profit of 15.6%. What is the cost price (in Rs) of the trolley bag?

A) 1000 B) 1005
C) 1050 D) 1156
 
Answer & Explanation Answer: A) 1000

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Profit and Loss
Exam Prep: Bank Exams

3 1830