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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:

The shopkeepers announce the same price of Rs. 700 for a sewing machine. The first offers successive discounts of 30% and 6% while the second offers successive discounts of 20% and 16%. The difference in their selling price is

A) Rs. 9.8 B) Rs. 16.8
C) Rs. 22.4 D) Rs. 36.4
 
Answer & Explanation Answer: A) Rs. 9.8

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Q:

For an article the profit is 190% of the cost price. If the cost price increase by 10% but the selling price remains same, then profit is what percentage of selling price (approximately)?

A) 54 B) 62
C) 73 D) 163
 
Answer & Explanation Answer: B) 62

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2 1200
Q:

On selling 25 shirts, a retailer earns profit equal to the cost price of 8 shirts. What is the profit percentage?

A) 47.05 B) 32
C) 25 D) 34.5
 
Answer & Explanation Answer: B) 32

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3 1200
Q:

The marked price of a calculator is Rs 750. It is sold at a discount of 22%. If the cost price of the calculator is Rs 500, then what is the profit (in Rs)?

 

A) 85   B)  105  
C)  95   D) 115
 
Answer & Explanation Answer: A) 85  

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4 1200
Q:

A book seller allowed 10% discount on printed price. He gets 30% commission from publisher. His profit in percent will be

A) 20 B) 28 4/7
C) 25 D) 26 3/7
 
Answer & Explanation Answer: B) 28 4/7

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2 1199
Q:

A shopkeeper, sold walnuts at the rate Rs 1,190 a kg and bears a loss of 10%. Now if he decides to sell it at Rs 1,249.5 per kg, what will be the result?

A) 11 percent loss B) 5.5 percent loss
C) 5.5 percent gain D) 11 percent gain
 
Answer & Explanation Answer: B) 5.5 percent loss

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2 1198
Q:

If 10% loss is made on selling price, then the rate of loss on the cost price will be

A) 11 1/9% B) 9 1/11%
C) 10% D) 11%
 
Answer & Explanation Answer: A) 11 1/9%

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1 1192
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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