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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:

A shopkeeper purchased a chair whose marked price is Rs 1400, at two successive discount of 20% and 30% respectively. If he sells the chair for Rs 1176, then what is the profit percentage?

A) 50 B) 33.33
C) 37.5 D) 57.5
 
Answer & Explanation Answer: A) 50

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Q:

Cost price of an article is Rs 360. If the profit percentage is 32%, then what is the value (in Rs) of profit?

A) 126.2 B) 108.2
C) 115.2 D) 105.2
 
Answer & Explanation Answer: C) 115.2

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Q:

A shopkeeper cheats to the extent of 8% while buying and selling fruits, by using tampered weights, his total gain in percentage is

A) 16.25 B) 16.44
C) 16.75 D) 16.5
 
Answer & Explanation Answer: B) 16.44

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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:

Deepti bought a set of cups for Rs. 175, but then had to sell it later to clear old stocks for Rs. 161. What is the percentage of loss that she had to incur?

A) 16 B) 8
C) 7 D) 14
 
Answer & Explanation Answer: B) 8

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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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Q:

On Selling a book at 9/14 of the marked price there is loss of 10%. What will be the ratio of marked price and cost price of the book?

 

A) 5 : 9 B) 5 : 8  
C) 7 : 4   D) 7 : 5
 
Answer & Explanation Answer: D) 7 : 5

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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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