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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

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

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 1330

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 1327

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 1323

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

A) 54

B) 62

C) 73

D) 163

Answer & Explanation Answer: B) 62

Explanation:

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2 1320

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 1320

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 1318

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 1305

A shopkeeper allows a discount of 20% to his customers and still gains 25%. Find the Marked price of an article which costs Rs.600 to the shopkeeper.

A) Rs.937.50	B) Rs.937
C) Rs.930	D) Rs.1000

A) Rs.937.50

B) Rs.937

C) Rs.930

D) Rs.1000

Answer & Explanation Answer: A) Rs.937.50

Explanation:

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