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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 milkman buys milk at Rs 24 per litre. He adds 1/5 of water to it and sells the mixture at Rs 32 per litre. What will be his gain (in %)?

A) 50 B) 40
C) 30 D) 60
 
Answer & Explanation Answer: D) 60

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Q:

A trader had 6 quintals of wheat. He sold a part of it at 7% profit and the rest at 17% profit, so that he made a total profit of 11%. How much wheat did he sell at 17% profit?

A) 360 kg B) 240 kg
C) 120 kg D) 480 kg
 
Answer & Explanation Answer: B) 240 kg

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Q:

On selling rice for Rs. 45 per kg, a shopkeeper bears loss of 20%. To earn a profit of 20%, the selling price should be

A) Rs. 67.50 B) Rs. 65
C) Rs. 70 D) Rs. 60
 
Answer & Explanation Answer: A) Rs. 67.50

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Q:

The marked price of a chair is 40% more than its cost price. If the chair is sold for Rs 520 after a discount of Rs 40, then what will be the profit percentage?

A) 33 B) 40
C) 25 D) 30
 
Answer & Explanation Answer: D) 30

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Q:

The marked price of a chair is Rs 550 and a discount of 20% is given on it. What is the selling price (in Rs)?

A) 440 B) 430
C) 470 D) 390
 
Answer & Explanation Answer: A) 440

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Q:

By selling cloth at Rs. 9 per metre , a shopkeeper loses 10% . Find the rate at which it should be sold so as to earn profit of 15%

A) Rs.11.20 B) Rs.11.30
C) Rs.11.40 D) Rs.11.50
 
Answer & Explanation Answer: D) Rs.11.50

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Q:

A trader buys 500 kgs of cotton for Rs 9,000. 10% of this cotton is spoiled due to rain. At what rate (Rs/Kg) should he sell the rest to earn 10% profit?

A) 25 B) 30
C) 22 D) 20
 
Answer & Explanation Answer: C) 22

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Q:

Selling price of a glass is Rs 1965 and loss percentage is 25%. If selling price is Rs 3013, then what will be the profit percentage?

A) 13 B) 10.4
C) 15 D) 20
 
Answer & Explanation Answer: C) 15

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