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:

If a merchant offers a discount of 40% on the list price, then he makes a loss of 10%. What % profit or % loss will he make if he sells at a discount of 20% of the list price?

A) 4 percent loss B) 14 percent profit
C) 5.5 percent loss D) 20 percent profit
 
Answer & Explanation Answer: D) 20 percent profit

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1 1721
Q:

If a saree is sold for Rs 2880 the seller will face 10% loss, at what price (in Rs) should he sell to gain 20% profit?

A) 4830 B) 3840
C) 3480 D) 4380
 
Answer & Explanation Answer: B) 3840

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4 1715
Q:

If a shop keeper marks his goods for a certain amount so as to get 25% gain after allowing a discount of 20%, then his marked price is

A) Rs.156.25 B) Rs.146.25
C) Rs.166.25 D) Rs.150.25
 
Answer & Explanation Answer: A) Rs.156.25

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3 1712
Q:

Cost price of an article is Rs 5800. If the loss percentage is 33%, then what is the selling price (in Rs) of the article?

A) 3886 B) 3424
C) 4420 D) 5168
 
Answer & Explanation Answer: A) 3886

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2 1710
Q:

A person sells wheat at a profit of 30%. If he reduces its selling price by Rs 60, then he suffers a loss of 10%. What was the initial selling price (in Rs)of the wheat?

 

A) 195 B) 210
C) 180 D) 130
 
Answer & Explanation Answer: A) 195

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5 1703
Q:

A home theatre set is Rs. 4950. If two successive discounts of 20% and 15% are given, then its selling price is

A) Rs.3366 B)  Rs.6633
C)  Rs.3636 D) Rs.6363
 
Answer & Explanation Answer: A) Rs.3366

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1 1701
Q:

If a vendor sells a coconut at Rs 24 he makes 20% loss. If he sells at Rs 36 then what is his profit percentage?

A) 10 B) 20
C) 30 D) 40
 
Answer & Explanation Answer: B) 20

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1 1692
Q:

If a merchant offers a discount of 20% on the list price, then he makes a loss of 10%. What % profit or % loss will she make if he sells at a discount of 5% of the list price?

A) 6.875 percent profit B) 20 percent profit
C) 14 percent profit D) 30 percent loss
 
Answer & Explanation Answer: A) 6.875 percent profit

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0 1692