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:

How much quantity (in kg) of wheat costing Rs 84 per kg must be mixed with 81 kg of wheat costing Rs 60 per kg so that on selling the mixture at Rs 75.9 per kg, there is a gain of 15%?

 

A) 27 B) 20.5
C) 22.75 D) 24
 
Answer & Explanation Answer: A) 27

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4 941
Q:

By selling a used phone for Rs.6,160 Rajan got 44% less than what it cost him to buy it a few years ago. At what price should Rajan have been able to sell it to make a profit of 5%?

 

A) Rs. 12,550 B) Rs. 11,550
C) Rs. 12,000 D) Rs. 10,550
 
Answer & Explanation Answer: B) Rs. 11,550

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4 934
Q:

A wholesaler purchased 7 hair clips for a rupee. How many for a rupee must he sell to get profit of 40%.

 

A) 6 B) 5
C) 4 D) 3
 
Answer & Explanation Answer: B) 5

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3 929
Q:

A man buys 10 oranges for Rs. 3 and sells 8 for Rs. 3. Calculate his gain percent.

A) 20% B) 25%
C) 27% D) 30%
 
Answer & Explanation Answer: B) 25%

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5 918
Q:

If a person bought an item for Rs. 96 and sold it at a profit of 12.5%, the selling price of the item was

A) Rs. 105 B) Rs. 110
C) Rs. 108 D) Rs. 112
 
Answer & Explanation Answer: C) Rs. 108

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0 914
Q:

If A purchase 9 chairs for Rs 5 and sells all the chairs at the rate of 5 chairs for Rs 9, then what will be the profit percentage?

 

 

A) 212   B) 224
C) 248   D) 194  
 
Answer & Explanation Answer: B) 224

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5 914
Q:

Aparna changes the marked price of an item to 50% above its C.P. What % of discount allowed in approximately to gain 10%?

 

A) 27% B) 25%
C) 35% D) 37%
 
Answer & Explanation Answer: A) 27%

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1 904
Q:

Sahil sold an item for Rs. 280 at a loss of 20%. The cost price of the item was

A) Rs. 336 B) Rs. 340
C) Rs. 350 D) Rs. 1400
 
Answer & Explanation Answer: C) Rs. 350

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0 903