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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 shopkeeper by selling 8 iphones, earns a profit equal to the selling price of 3 iphones. His profit percentage is

A) 60 percent B) 37.5 percent
C) 75 percent D) 15 percent
 
Answer & Explanation Answer: A) 60 percent

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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 1368
Q:

The difference between cost price and selling price is Rs 12.54. If loss percentage is 33%, then what is the cost price (in Rs)?

A) 35.44 B) 50.54
C) 41 D) 38
 
Answer & Explanation Answer: D) 38

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Q:

Naveen purchased a gas cylinder and a stove for Rs.4500. He sold the gas cylinder at a gain of 25% and the stove at a loss of 20%, still gaining 4% on the whole. Find the cost of the gas cylinder.

A) Rs.3600 B) Rs.2400
C) Rs.3000 D) Rs.2600
 
Answer & Explanation Answer: B) Rs.2400

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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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Q:

A dishonest shopkeeper professes to sell goods at his cost price but uses a false weight of 950 gms, for each kilogram. His gain percentage is

A) 100/23% B) 100/19%
C) 100/17% D) 100/21%
 
Answer & Explanation Answer: B) 100/19%

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2 1352
Q:

By selling a table for Rs. 16,870, a shopkeeper suffers a loss of Rs. 1080. His loss percentage (rounded off to one decimal place) is

A) 6.4% B) 6.1%
C) 6.2% D) 6.0%
 
Answer & Explanation Answer: D) 6.0%

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Q:

Ramesh sold a book at a loss of 30%. If he had sold it for Rs. 140 more, he would have made a profit of 40%. The cost price of the book is

A) Rs. 280 B) Rs. 200
C) Rs. 260 D) Rs. 300
 
Answer & Explanation Answer: B) Rs. 200

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