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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 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

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Q:

A vendor buys pens at the rate of 4 for Rs 5 and sells at the rate of 4 for Rs 3. What will be the result?

A) 40 percent gain B) 66.6 percent loss
C) 66.66 percent gain D) 40 percent loss
 
Answer & Explanation Answer: D) 40 percent loss

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0 1458
Q:

Raj sells a machine for Rs 51 lakhs at a loss. Had he sold it for Rs 60 lakh, his gain would have been 8 times the earlier loss. What is the cost price of the machine?

A) Rs 59 lakhs B) Rs 52 lakhs
C) Rs 66.375 lakhs D) Rs 45 lakhs
 
Answer & Explanation Answer: B) Rs 52 lakhs

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1 1456
Q:

The profit earned by a shopkeeper by selling a bucket at a gain of 8% is Rs 28 more than when he sells it at a loss of 8%. The cost price (in Rupees) of the bucket is

A) 170 B) 190
C) 175 D) 165
 
Answer & Explanation Answer: C) 175

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0 1454
Q:

A used two-wheeler dealer sells a scooter for Rs 46,000 and makes some loss. If he had sold it for Rs 58,000 his profit would have been double his loss. What was the cost price (in Rs) of the scooter?

A) 52000 B) 54000
C) 48000 D) 50000
 
Answer & Explanation Answer: D) 50000

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1 1431
Q:

The marked price of an article is 10/7 of the cost price and the selling price of that article is 4/5 of the marked price. What is the profit percentage?

A) 17.24 B) 16.66
C) 14.28 D) 15.42
 
Answer & Explanation Answer: C) 14.28

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2 1425
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 1421
Q:

Raj purchased two laptops, first for Rs 42500 and the second for Rs 36200. He sold first laptop at a profit of 12% and the second laptop at a loss of 12%.What is the overall profit or loss?

A) Rs 756 profit B) Rs 756 loss
C) Rs 1512 profit D) Rs 1512 loss
 
Answer & Explanation Answer: A) Rs 756 profit

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