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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:

If the ratio of the cost price and the selling price of an article be 4:5, then the percentage of profit is:

A) 27.5 B) 25
C) 15 D) 10
 
Answer & Explanation Answer: B) 25

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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 1482
Q:

A trader had 2000 kgs of rice. He sold a part of it at 10% profit and the rest at 16% profit, so that he made a total profit of 14.2%. How much rice (in kg) did he sell at 10% profit?

A) 1400 B) 600
C) 800 D) 1000
 
Answer & Explanation Answer: B) 600

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Q:

A trader had 630 kgs of rice. He sold a part of it at 15% 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) 270 B) 300
C) 280 D) 290
 
Answer & Explanation Answer: A) 270

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0 1481
Q:

A trader had 16 quintals of wheat. He sold a part of it at 17% profit and the rest at 27% profit, so that he made a total profit of 21%. How much wheat did he sell at 27% profit?

A) 960 kg B) 640 kg
C) 320 kg D) 1280 kg
 
Answer & Explanation Answer: B) 640 kg

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4 1479
Q:

Selling price of an article is Rs 1144. If loss percentage is 12%, then what is the cost price (in Rs) of article?

A) 1300 B) 1006
C) 1242 D) 1440
 
Answer & Explanation Answer: A) 1300

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Q:

Selling price of a watch is Rs 966 and profit percentage is 15%. If selling price is Rs 798, then what will be the loss percentage?

A) 5 B) 8
C) 7.21 D) 6.26
 
Answer & Explanation Answer: A) 5

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1 1471
Q:

70% of the cost price of a article is equal to the 40% of its selling price. What is the profit or loss percentage?

A) 63% loss B) 70% loss
C) 75% profit D) 80% profit
 
Answer & Explanation Answer: C) 75% profit

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