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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 a wholesaler, sells a box of chocolates at Rs 960 he gains 20%. Now if he decides to sell it at Rs 1120, what is his profit percentage?

A) 30 B) 40
C) 50 D) 60
 
Answer & Explanation Answer: B) 40

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Q:

Cost price of 28 articles is equal to Sale price of 21 articles, then percentage of profit is

A) 12% B) 33 1⁄3 %
C) 20% D) 22%
 
Answer & Explanation Answer: B) 33 1⁄3 %

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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 1219
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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1 1215
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 1213
Q:

A wholesaler sells a watch to a retailer at a gain of 35% and the retailer sells it to a customer at a loss of 25%. If the customer pays Rs 2379.375, what had it cost the wholesaler?

A) Rs 2350 B) Rs 2409
C) Rs 2928 D) Rs 2291
 
Answer & Explanation Answer: A) Rs 2350

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2 1212
Q:

Mr. Rajesh buys a toy for Rs. 27.50 and sells it for Rs. 28.60. Find the gain %.

A) 5% B) 4%
C) 6% D) 3%
 
Answer & Explanation Answer: B) 4%

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1 1207
Q:

A shopkeeper by selling 9 Rolex watches, earns a profit equal to the selling price of 4 Rolex watches. His profit percentage is

A) 44.4 percent B) 88.8 percent
C) 80 percent D) 8.8 percent
 
Answer & Explanation Answer: C) 80 percent

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