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Profit and Loss

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 = $(\frac{P r o f i t}{C . P} \times 100)$

2. Loss percentage = $(\frac{L o s s}{C . P} \times 100)$

3. $S . P = [\frac{100 + G a i n %}{100} \times C . P] = [\frac{100 - L o s s %}{100} \times C . P]$

4. $C . P = [\frac{100}{100 + G a i n %} \times S . P] = [\frac{100}{100 - L o s s %} \times S . P]$

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 : $L o s s % = (\frac{C o m m o n L o s s a n d G a i n %}{10})^{2} = {(\frac{x}{10})}^{2}$

8. If a trader Professes to sell his goods at cost price, but uses false weihts, then

$G a i n % = [\frac{E r r o r}{T r u e V a l u e - E r r o r} \times 100] %$

Selling price of an article is Rs 27692 and loss percentage is 14%. If the selling price is Rs 37352, then what will be the profit percentage?

A) 13.8	B) 18.6
C) 14	D) 16

A) 13.8

B) 18.6

C) 14

D) 16

Answer & Explanation Answer: D) 16

Explanation:

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4 1280

A store sells a watch for a profit of 25% of the cost. Then the percentage of profit against selling price is

A) 22%	B) 20%
C) 18%	D) 15%

A) 22%

B) 20%

C) 18%

D) 15%

Answer & Explanation Answer: B) 20%

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4 1278

A grocer had 1600 kgs of wheat. He sold a part of it at 20% profit and the rest at 12% profit, so that he made a total profit of 17%. How much wheat (in kg) did he sell at 20% profit?

A) 600	B) 1000
C) 800	D) 1200

A) 600

B) 1000

C) 800

D) 1200

Answer & Explanation Answer: B) 1000

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3 1277

A man bought 25 crates of oranges for Rs. 10,000. He lost 5 crates. In order to earn a total profit of 25% of the total cost, he would have to sell each of the remaining crates at

A) Rs.650	B) Rs. 625
C) Rs. 600	D) Rs. 575

A) Rs.650

B) Rs. 625

C) Rs. 600

D) Rs. 575

Answer & Explanation Answer: B) Rs. 625

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2 1276

The marked price of a pencil is 35% more than its cost price. What maximum discount percentage can be offered by the shopkeeper to sell his pencil at no profit or no loss?

A) 34.24	B) 44.44
C) 25.92	D) 18.18

A) 34.24

B) 44.44

C) 25.92

D) 18.18

Answer & Explanation Answer: C) 25.92

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1 1276

A vendor buys bananas at 12 for Rs 50 and sells at 5 for Rs 40. What will be the gain (in %)?

A) 82	B) 72
C) 92	D) 62

A) 82

B) 72

C) 92

D) 62

Answer & Explanation Answer: C) 92

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1 1271

A shopkeeper buys a product of Rs 150 per Kg. 15% of product was damaged. At what price (per Kg) should he sell the remaining so as to earn a profit of 20%?