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Quantitative Aptitude - Arithmetic Ability/
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

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

Mr. Kapur purchased two toy cycles for Rs 750 each. He sold these cycles, gaining 6% on one and losing 4% on the other. The gain or loss percent in the whole transaction is

A) 1% loss	B) 1% gain
C) 1.5% loss	D) 1.5 gain

A) 1% loss

B) 1% gain

C) 1.5% loss

D) 1.5 gain

Answer & Explanation Answer: B) 1% gain

Explanation:

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3 1294

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

A) 60 percent

B) 37.5 percent

C) 75 percent

D) 15 percent

Answer & Explanation Answer: A) 60 percent

Explanation:

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0 1288

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

A) Rs.3600

B) Rs.2400

C) Rs.3000

D) Rs.2600

Answer & Explanation Answer: B) Rs.2400

Explanation:

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4 1287

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%

A) 100/23%

B) 100/19%

C) 100/17%

D) 100/21%

Answer & Explanation Answer: B) 100/19%

Explanation:

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2 1286

If the selling price is doubled, the profit triples. The profit percent is

A) 66.6%	B) 150%
C) 100%	D) 190%

A) 66.6%

B) 150%

C) 100%

D) 190%

Answer & Explanation Answer: C) 100%

Explanation:

Let CP be x and SP be y.

3(y –x) = (2y –x)y = 2x

Profit = y –x = 2x –x = x

Profit% = x/x X 100 = 100%

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2 1285

The marked price of a trouser is twice of the cost price. To earn 36% profit, what should be the value of discount (in percentage)?

A) 33	B) 32
C) 34	D) 36

A) 33

B) 32

C) 34

D) 36

Answer & Explanation Answer: B) 32

Explanation:

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4 1282

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%

A) 6.4%

B) 6.1%

C) 6.2%

D) 6.0%

Answer & Explanation Answer: D) 6.0%

Explanation:

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2 1276

A sells a watch to B and makes a loss of 12%. B makes a profit of 12.5% by selling the watch to C. If A sells the watch to B at the cost of which C purchased it, then the percentage of loss or profit of A will be,