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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 sells vegetables at a profit of 35% and for weighing uses a weight which is 10% less than the article weight. What is total profit percentage?

 

A) 50 B) 35
C) 45 D) 55
 
Answer & Explanation Answer: A) 50

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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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2 844
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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0 821
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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2 821
Q:

After buying a toy for Rs. 66, Raghu managed to sell it at a profit of 15%. The selling price of the toy was

A) Rs. 75.90 B) Rs. 70.80
C) Rs. 75.20 D) Rs. 76.90
 
Answer & Explanation Answer: A) Rs. 75.90

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3 820
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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3 817
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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1 814
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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