Profit and Loss Questions

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 fan was sold for Rs. 3600 at a loss of 4%. What would be the gain or loss percent ifit was sold for Rs. 4200?

A) Gain 10% B) Gain 12%
C) Loss 12% D) Loss 10%
 
Answer & Explanation Answer: B) Gain 12%

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Q:

If a person bought an item for Rs. 60 and sold it at a profit of 25%, the selling price of the item would be

A) Rs. 84 B) Rs. 72
C) Rs. 75 D) Rs. 80
 
Answer & Explanation Answer: C) Rs. 75

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Q:

If a merchant offers a discount of 25% on the list price, then he makes a loss of 5%. What % profit or % loss will he make if he sells at a discount of 10% of the list price?

A) 5.5 percent loss B) 14 percent profit
C) 50 percent profit D) 26 percent loss
 
Answer & Explanation Answer: B) 14 percent profit

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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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Q:

If a vendor sells apples at Rs 170 per kg he suffers 15% loss. If he sells at Rs 230 per kg, then what is his profit percentage?

A) 15 B) 10
C) 5 D) 20
 
Answer & Explanation Answer: A) 15

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Q:

Puneet purchases 5 dozens of oranges at the rate of Rs 120 per dozen. He sold each one of them at the rate of Rs 11.5. What is the profit (inpercentage) of Puneet?

A) 18 B) 30
C) 12 D) 15
 
Answer & Explanation Answer: D) 15

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Q:

Selling price of a calculator is Rs 13924 and profit percentage is 18%. If selling price is Rs 10266, then what will be the loss percentage?

A) 17.2 B) 13
C) 14.9 D) 11
 
Answer & Explanation Answer: B) 13

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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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