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:

While selling a router, a shopkeeper gives a discount of 15%. If he gives a discount of 20%, he earns Rs. 51 less as profit. What is the original marked price of the router?

A) Rs. 1000 B) Rs. 1020
C) Rs. 1040 D) Rs. 980
 
Answer & Explanation Answer: B) Rs. 1020

Explanation:

Let the marked price of the router be Rs. P

From the given data,

P x 85100 - P x 80100 = 51P x 5100 = 51 P = 51005 = 1020 

 

Hence, the original marked price of the router is Rs. 1020.

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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

Explanation:
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Q:

Savita sold an item for 6,500 and incurred a loss of 20%. At what price should she have sold the item to have gained a profit of 20%?

A) 10,375 B) 9,750
C) 8,125 D) Cannot be determined
 
Answer & Explanation Answer: B) 9,750

Explanation:

C.P of article = 6500 * (100/80) = Rs. 8125 S.P for a gain of 20% = (8125*120)/100 = Rs. 9750

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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

Explanation:
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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

Explanation:
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Q:

If a merchant offers a discount of 30% on the list price, then he makes a loss of 16%. What % profit or % loss will he make if he sells at a discount of 20% of the list price?

A) 14 percent profit B) 4 percent loss
C) 26 percent profit D) 8 percent profit
 
Answer & Explanation Answer: B) 4 percent loss

Explanation:
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Q:

If the selling price is tripled and cost price doubled the profit would become 65%. What is the present profit (in %)?

A) 20 B) 15
C) 25 D) 10
 
Answer & Explanation Answer: D) 10

Explanation:
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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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