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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:

X, Y and Z are partners in a company. In one year X receives 1/4 part of profit, Y receives 1/5 part of profit and Z receives Rs 22000. How much amount (in Rs) will X get as profit?

 

A) 10000 B) 12000
C) 15000 D) 18000
 
Answer & Explanation Answer: A) 10000

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Q:

A shopkeeper purchased some eggs at rs. 19.20 per dozen and sold them at a profit of 25%. What is the selling price per egg?

A) Rs. 2.20 B) Rs. 1.60
C) Rs. 2.00 D) Rs. 1.80
 
Answer & Explanation Answer: C) Rs. 2.00

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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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Q:

Mr. Mahesh sold a bus for Rs. 22,100 with a loss of 15%. At what price should the bus be sold to get a profit of 15%?

A) 29,700 B) 30,000
C) 29,800 D) 29,900
 
Answer & Explanation Answer: D) 29,900

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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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Q:

A vendor buys 6 bananas for Rs 25 and sells them at 3 for Rs 20. What is his profit percentage?

A) 50 B) 40
C) 60 D) 30
 
Answer & Explanation Answer: C) 60

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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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Q:

A trader buys 500 kgs of cotton for Rs 9,000. 10% of this cotton is spoiled due to rain. At what rate (Rs/Kg) should he sell the rest to earn 10% profit?

A) 25 B) 30
C) 22 D) 20
 
Answer & Explanation Answer: C) 22

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