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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 a watch to B and makes a loss of 12%. B makes a profit of 12.5% by selling the watch to C. If A sells the watch to B at the cost of which C purchased it, then the percentage of loss or profit of A will be,

A) 1% loss B) 1% profit
C) 2% loss D) 2% profit
 
Answer & Explanation Answer: A) 1% loss

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Q:

Puneet purchases 5 dozens of oranges at the rate of Rs 120 per dozen. He sold each one of them at the rate of Rs 11.5. What is the profit (inpercentage) of Puneet?

A) 18 B) 30
C) 12 D) 15
 
Answer & Explanation Answer: D) 15

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Q:

A vendor buys bananas at 4 for Rs 3 and sells at 3 for Rs 4. What will be the result?

A) 43.75% profit B) 77.7% loss
C) 77.7% profit D) 43.75% loss
 
Answer & Explanation Answer: C) 77.7% profit

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Q:

A shopkeeper, sold dried apricots at the rate Rs 1,310 a kg and bears a loss of 13%. Now if he decides to sell it at Rs 1,441 per kg, what will be the result?

A) 8.6 percent loss B) 4.3 percent gain
C) 4.3 percent loss D) 8.6 percent gain
 
Answer & Explanation Answer: C) 4.3 percent loss

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Q:

A shopkeeper allows a discount of 20% to his customers and still gains 25%. Find the Marked price of an article which costs Rs.600 to the shopkeeper.

A) Rs.937.50 B) Rs.937
C) Rs.930 D) Rs.1000
 
Answer & Explanation Answer: A) Rs.937.50

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Q:

Selling price of a calculator is Rs 13924 and profit percentage is 18%. If selling price is Rs 10266, then what will be the loss percentage?

A) 17.2 B) 13
C) 14.9 D) 11
 
Answer & Explanation Answer: B) 13

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Q:

If a vendor sells apples at Rs 170 per kg he suffers 15% loss. If he sells at Rs 230 per kg, then what is his profit percentage?

A) 15 B) 10
C) 5 D) 20
 
Answer & Explanation Answer: A) 15

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Q:

Dealer purchased an article for Rs. 900 and fixes the list price in such a way that he gains 20% after allowing 10% discount, then the list price is

A) Rs.1180 B) Rs.1080
C) Rs.1200 D) Rs.1100
 
Answer & Explanation Answer: C) Rs.1200

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