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:

The line passing through point (-3,1) and point (x,5) is parallel to the line passing through point (-2,-1) and point (6,3). What is the value of x?

A) -5 B) -2
C) 2 D) 5
 
Answer & Explanation Answer: D) 5

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Q:

A retailer gets a discount of 40% on the printed price of an article. The retailer sells it at the printed price. His gain percent is

A) 40 B) 55
C) 66 2/3 D) 75
 
Answer & Explanation Answer: C) 66 2/3

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Q:

When Bablu decreases the selling price of the shoes from Rs. 360 to Rs. 345, his loss increases by 4%. The cost price of the shoes is

A) Rs. 275 B) Rs. 375
C) Rs. 425 D) Rs. 450
 
Answer & Explanation Answer: B) Rs. 375

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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:

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 marked price of a door is Rs 1400. It is sold at a discount of 28%. If the cost price of the door is Rs 700, then what is the profit (in Rs)?

A) 340 B) 428
C) 308 D) 368
 
Answer & Explanation Answer: C) 308

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Q:

U starts a business by investing Rs 45000 and V join him after one year with an amount of Rs 33000. After two years from the starting of business, they earned profit of Rs 16400. What will be the U’s share (in Rs) in the profit?

A) 11200 B) 9600
C) 10000 D) 12000
 
Answer & Explanation Answer: D) 12000

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Q:

R and S started a business by investing Rs 165000 and Rs 195000 respectively for the same period of time. If R’s share in the profit earned by them is Rs 11000, then what is the total profit (in Rs) earned by both of them together?

A) 22000 B) 40000
C) 26000 D) 24000
 
Answer & Explanation Answer: D) 24000

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