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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 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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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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Q:

A table was sold at a profit of 10%. If its cost price was 5% less and it was sold for Rs. 7 more, the gain would have been 20%. Find the cost price of the table.

A) Rs. 175 B) Rs. 200
C) Rs. 250 D) Rs. 150
 
Answer & Explanation Answer: A) Rs. 175

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Q:

A person bought an item for Rs. 1500 and sold it at a profit of 12%. What was the selling price of the item?

A) Rs. 1800 B) Rs. 1620
C) Rs. 1662 D) Rs. 1680
 
Answer & Explanation Answer: D) Rs. 1680

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1 978
Q:

Raghavendra sells a machine for Rs 43 lakhs at a loss. Had he sold it for Rs 52 lakh, his gain would have been 5 times the former loss. Find the cost price of the machine.

A) Rs 50.5 lakhs B) Rs 60.6 lakhs
C) Rs 44.5 lakhs D) Rs 38.5 lakhs
 
Answer & Explanation Answer: C) Rs 44.5 lakhs

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Q:

A shopkeeper increases the price of an object by 40% and then sells it at 25% discount on the marked price. If the selling price of such an object be Rs. 2100, its cost price for the shopkeeper was ?

A) 3000 B) 1500
C) 1750 D) 2000
 
Answer & Explanation Answer: D) 2000

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Q:

If the selling price of an article is doubled, then its loss percentage gets converted into the equal profit percentage. What is the loss percentage?

 

A) 16.66   B) 50
C) 33.33   D) 37.5
 
Answer & Explanation Answer: C) 33.33  

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Q:

Neeraj's earning was decreased by 60% and after that subsequently increased by 60%. Find the final loss % on his earnings?

A) 12% B) 36%
C) 4% D) 5%
 
Answer & Explanation Answer: B) 36%

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