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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:

Profit of Rs 728000 has to be divided among three partners Amir, Balaraj and Charan in the ratio 7:5:4. How much share (in Rs) does Charan get?

A) 227500 B) 318500
C) 91000 D) 182000
 
Answer & Explanation Answer: D) 182000

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0 1445
Q:

When a discount of 20% is given on a monthly train pass, the profit is 44%. If the discount is 29%, then the profit is _____.

A) 73 percent B) 118.2 percent
C) 17.4 percent D) 27.8 percent
 
Answer & Explanation Answer: D) 27.8 percent

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2 1442
Q:

A miner sells a diamond to a trader at a profit of 40% and the trader sells it to a customer at a profit of 25%. If the customer pays Rs 56 lakhs to buy the diamond, what had it cost the miner (in Rs lakhs)?

A) 30 B) 28
C) 25 D) 32
 
Answer & Explanation Answer: D) 32

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3 1421
Q:

A merchant marks the price of his articles 20% above the cost price. If he allows 20% discount, then what is the profit or loss percentage?

A) 2% loss B) 4% profit
C) 4% loss D) No profit/loss
 
Answer & Explanation Answer: C) 4% loss

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1 1417
Q:

A trader had 12 quintals of wheat. He sold a part of it at 13% profit and the rest at 23% profit, so that he made a total profit of 17 %. How much wheat did he sell at 23% profit?

A) 720 kg B) 240 kg
C) 480 kg D) 960 kg
 
Answer & Explanation Answer: C) 480 kg

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3 1410
Q:

The marked price is 10% higher than the cost price . A discount of 10% is given to the marked price . In this kind of sale the seller

A) bears no gain , no loss B) gains
C) loses 1% D) None of these
 
Answer & Explanation Answer: C) loses 1%

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0 1408
Q:

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
 
Answer & Explanation Answer: D) 16

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4 1405
Q:

The difference between cost price and selling price is Rs 494. If loss percentage is 19%, then what is the selling price (in Rs)?

A) 2106 B) 2600
C) 3094 D) 2208
 
Answer & Explanation Answer: A) 2106

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2 1405