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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:

The selling price of an item inclusive of a 16% profit was Rs. 435. What would be the percentage loss if the item was sold for Rs. 330?

A) 13 B) 12
C) 12.5 D) 12.25
 
Answer & Explanation Answer: B) 12

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Q:

Qamar gained 16% on the resale of a used stereo. If he purchased the item for Rs. 1500, how much did he sell it for?

A) Rs. 1740 B) Rs. 1660
C) Rs. 1600 D) Rs. 1820
 
Answer & Explanation Answer: A) Rs. 1740

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3 1057
Q:

X and Y started a business by investing Rs 171000 and Rs 243000 respectively. If X’s share in the profit earned at the end of year is Rs 3800, then what will be the total profit (in Rs) earned by them together?

 

 

A) 9200   B) 9600  
C) 8400   D) 8800
 
Answer & Explanation Answer: A) 9200  

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1 1054
Q:

P, Q and R are partners in a company. In any year P receives 1/9 part of profit, Q receives 1/6 part of profit and R receives Rs 130000. How much amount (in Rs) will P get as profit?

A) 40000 B) 36000
C) 18000 D) 20000
 
Answer & Explanation Answer: D) 20000

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2 1053
Q:

A shopkeeper sells wheat at a profit of 20% and for weighing uses a weight which is 10% less than the actual weight. What is his total profit percentage?

 

A) 31.24 B) 37.5  
C) 30   D) 33.33
 
Answer & Explanation Answer: D) 33.33

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0 1049
Q:

The marked price of an article is Rs 1200 and retailer gets a discount of 25%. If he sells that article for Rs 1200, then what is the profit percentage of retailer?

A) 33.33 B) 25
C) 37.5 D) 16.66
 
Answer & Explanation Answer: A) 33.33

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7 1047
Q:

A shopkeeper marks the price of an article at Rs. 320. Find the cost price if after allowing a discount of 10%, he still gains 20% on the cost price.

A) Rs. 240 B) Rs. 280
C) Rs. 300 D) Rs. 264
 
Answer & Explanation Answer: A) Rs. 240

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0 1039
Q:

The ratio of cost price and selling price 25:26. The percent of profit will be

A) 26% B) 25%
C) 1% D) 4%
 
Answer & Explanation Answer: D) 4%

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