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:

Cost price of a calculator is Rs 495. If the profit percentage is 40%, then what is the value (in Rs) of profit?

A) 226 B) 198
C) 186 D) 218
 
Answer & Explanation Answer: B) 198

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Profit and Loss
Exam Prep: Bank Exams

3 1412
Q:

A dishonest milkman buys milk at Rs 30 per litre and adds 1/5 of water to it and sells the mixture at Rs 32 per litre. What will be his gain?

A) 33.33 percent B) 50 percent
C) 28 percent D) 25 percent
 
Answer & Explanation Answer: C) 28 percent

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Profit and Loss
Exam Prep: Bank Exams

3 1411
Q:

A trader had 1200 kgs of rice. He sold a part of it at 5% profit and the rest at 11% profit, so that he made a total profit of 7%. How much (in kg) wheat did he sell at 5% profit?

A) 900 B) 600
C) 400 D) 800
 
Answer & Explanation Answer: D) 800

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Profit and Loss
Exam Prep: Bank Exams

0 1407
Q:

Raghunandan sells a machine for Rs 45 lakhs at a loss. Had he sold it for Rs 55 lakh, his gain would have been 9 times the former loss. Find the cost price of the machine.

A) Rs 54 lakhs B) Rs 46 lakhs
C) Rs 60 lakhs D) Rs 38 lakhs
 
Answer & Explanation Answer: B) Rs 46 lakhs

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Profit and Loss

3 1406
Q:

Rohit wants to earn 21% profit on a belt after offering 45% discount. By how much percentage more should he mark the price of his article above the costprice?

A) 75.45 B) 120
C) 66 D) 102.5
 
Answer & Explanation Answer: B) 120

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Profit and Loss
Exam Prep: Bank Exams

0 1394
Q:

If the cost price of 25 pens is equal to the selling price of 20 pens, then the profit percent is

A) 20% B) 25%
C) 15% D) 5%
 
Answer & Explanation Answer: B) 25%

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Profit and Loss
Exam Prep: Bank Exams

1 1392
Q:

A wholesaler sells a jacket to a retailer at a profit of 25% and the retailer sells it to a customer at a profit of 20%. If the customer pays Rs. 2,400, what had it cost (in Rs) the wholesaler?

A) 2000 B) 1600
C) 1800 D) 2250
 
Answer & Explanation Answer: B) 1600

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Profit and Loss
Exam Prep: Bank Exams

3 1392
Q:

A shopkeeper purchased 510 eggs at the rate of Rs. 20 per dozen. 30 eggs were broken on the way. In order to make a gain of 20%, he must sell the remaining eggs at the rate of

A) Rs. 22.50 per dozen B) Rs. 25.50 per dozen
C) Rs. 26 per dozen D) Rs. 26.50 per dozen
 
Answer & Explanation Answer: B) Rs. 25.50 per dozen

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Profit and Loss
Exam Prep: Bank Exams

3 1390