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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 sells a table at a discount of 20% and earns a profit of 60%. If he sells the same table at 40% discount, then what will be his new profit percent?

A) 20 B) 30
C) 35 D) 40
 
Answer & Explanation Answer: A) 20

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Q:

Shivam Industries installed a flour mill for Rs. 300,000 five years ago. If the fixed annual rate of depreciation is 5% and they sold the mill for Rs. 250,000 their gain/loss % is?

 

 

A) No gain - No loss B) Loss 10%
C) Gain 12.5% D) Gain 10%
 
Answer & Explanation Answer: D) Gain 10%

Explanation:

Given that mill worth originally =3ooooo

Depreciation for 1 yr =300000x5/100= Rs. 15000

Then, depreciation for 5yrs = Rs. 75000

Value after 5yrs = 300000 - 75000 = Rs. 225000

Given Selling Price of the mill = Rs. 250000

Sp > CP

Gain = 250000 - 225000 = Rs. 25000

Gain% = 25000/250000 x 100 = 10%.

 

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Q:

Two pens are bought at the rate of Rs 20 each. Shopkeeper sells one at the profit of 25% and other at the loss of 25%. What will be the total profit or loss in the whole transaction?

 

A) No profit/loss B) Profit of Rs 1
C) Loss of Rs 1 D) Loss of Rs 2
 
Answer & Explanation Answer: A) No profit/loss

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1 2686
Q:

If a vendor sells a coconut at Rs 14.4 he makes 10% loss. If he wants to make 25% profit, then at what price (in Rs) should he sell?

A) 18 B) 20
C) 16 D) 22
 
Answer & Explanation Answer: B) 20

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6 2659
Q:

A shopkeeper allows 25% discount on the marked price of an article and he suffered a loss of 15%. What will be the profit percent if the article is sold at marked price?

A) 11.76 B) 12.12
C) 13.33 D) 14.28
 
Answer & Explanation Answer: C) 13.33

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7 2646
Q:

When a discount of 20% is given on a pizza, the profit is 32%. If the discount is 18%, then the profit is

A) 50 percent B) 64.7 percent
C) 35.3 percent D) 20.6 percent
 
Answer & Explanation Answer: C) 35.3 percent

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Q:

Shiv sold a shirt for Rs. 184 at a loss of 8%. To make a profit of 5% he should have sold the shirt for

A) Rs. 210 B) Rs. 197
C) Rs. 207.92 D) Rs. 200
 
Answer & Explanation Answer: A) Rs. 210

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11 2610
Q:

Two shirts are bought at the rate of Rs 400 each. Shopkeeper sells one at the profit of 150% and other at the loss of 150%. What will be the total profit or loss in the whole transaction?

A) Loss of Rs 50 B) No profit/loss
C) Profit of Rs 25 D) Loss of Rs 150
 
Answer & Explanation Answer: B) No profit/loss

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