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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:

Mukesh sells two shirts. The cost price of the first shirt is equal to the selling price of the second shirt. The first shirt is sold at a profit of 30% and the second shirt is sold at a loss of 30%. What is the ratio of the selling price of the first shirt to the cost price of the second shirt?

A) 91 : 100 B) 100 : 91
C) 31 : 50 D) 50 : 31
 
Answer & Explanation Answer: A) 91 : 100

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7 1049
Q:

The difference between cost price and selling price is Rs 575. If profit percentage is 23%, then what is the selling price (in Rs)?

A) 3225 B) 1925
C) 2500 D) 3075
 
Answer & Explanation Answer: D) 3075

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2 1046
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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1 1042
Q:

A contractor has got two orders A and B. On one (A) he spends Rs. 25,000 and makes a bill of Rs. 30,500. On the other (B) he makes a bill keeping a profit of 20%. Which of the two orders is more profitable to him?

A) B B) A
C) A nor B D) None of the above
 
Answer & Explanation Answer: B) A

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3 1035
Q:

If the ratio of cost price and selling price be 10:11, then the profit percentage is

A) 1% B) 10%
C) 5% D) 8%
 
Answer & Explanation Answer: B) 10%

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2 1026
Q:

Deepak marks the price of his table 60% above the cost price. He gives some discount on it and earns profit of 15.2%. What is the discount percentage?

A) 36.4 B) 28
C) 44.8 D) 38.9
 
Answer & Explanation Answer: B) 28

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3 1026
Q:

A rice trader buys 12 quintals of rice for Rs 1,870. 15% rice is lost in transportation. At what rate should he sell to earn 20% profit?

A) Rs 110.3 per quintal B) Rs 187 per quintal
C) Rs 220 per quintal D) Rs 224 per quintal
 
Answer & Explanation Answer: C) Rs 220 per quintal

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3 1023
Q:

The difference between cost price and selling price is Rs 576. If the profit percentage is 16%, then what is the cost price (in Rs)?

A) 3024 B) 4176
C) 3600 D) 3800
 
Answer & Explanation Answer: C) 3600

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0 1023