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Profit and Loss

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 = $(\frac{P r o f i t}{C . P} \times 100)$

2. Loss percentage = $(\frac{L o s s}{C . P} \times 100)$

3. $S . P = [\frac{100 + G a i n %}{100} \times C . P] = [\frac{100 - L o s s %}{100} \times C . P]$

4. $C . P = [\frac{100}{100 + G a i n %} \times S . P] = [\frac{100}{100 - L o s s %} \times S . P]$

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 : $L o s s % = (\frac{C o m m o n L o s s a n d G a i n %}{10})^{2} = {(\frac{x}{10})}^{2}$

8. If a trader Professes to sell his goods at cost price, but uses false weihts, then

$G a i n % = [\frac{E r r o r}{T r u e V a l u e - E r r o r} \times 100] %$

A shopkeeper buys a product of Rs 150 per Kg. 15% of product was damaged. At what price (per Kg) should he sell the remaining so as to earn a profit of 20%?

A) Rs. 207	B) Rs. 207 11/180
C) Rs. 211 13/17	D) Rs. 204 7/13

A) Rs. 207

B) Rs. 207 11/180

C) Rs. 211 13/17

D) Rs. 204 7/13

Answer & Explanation Answer: C) Rs. 211 13/17

Explanation:

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2 2092

A vendor buys bananas at 7 for Rs 6 and sells at 6 for Rs 7. What will be the result?

A) 36.1% loss	B) 26.5% profit
C) 36.1% profit	D) 26.5% loss

A) 36.1% loss

B) 26.5% profit

C) 36.1% profit

D) 26.5% loss

Answer & Explanation Answer: C) 36.1% profit

Explanation:

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1 2091

The marked price of a pencil is 35% more than its cost price. What maximum discount percentage can be offered by the shopkeeper to sell his pencil at no profit or no loss?

A) 34.24	B) 44.44
C) 25.92	D) 18.18

A) 34.24

B) 44.44

C) 25.92

D) 18.18

Answer & Explanation Answer: C) 25.92

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1 2084

A shopkeeper, sold walnuts at the rate Rs 1,190 a kg and bears a loss of 10%. Now if he decides to sell it at Rs 1,249.5 per kg, what will be the result?

A) 11 percent loss	B) 5.5 percent loss
C) 5.5 percent gain	D) 11 percent gain

A) 11 percent loss

B) 5.5 percent loss

C) 5.5 percent gain

D) 11 percent gain

Answer & Explanation Answer: B) 5.5 percent loss

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3 2081

Profit of Rs 728000 has to be divided among three partners Amir, Balaraj and Charan in the ratio 7:5:4. How much share (in Rs) does Charan get?

A) 227500	B) 318500
C) 91000	D) 182000

A) 227500

B) 318500

C) 91000

D) 182000

Answer & Explanation Answer: D) 182000

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0 2079

The ratio of the cost price and selling price of a bulb is 15 : 18. What is the profit percentage?

A) 16.66	B) 14.28
C) 20	D) 22

A) 16.66

B) 14.28

C) 20

D) 22

Answer & Explanation Answer: C) 20

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1 2069

A person sells wheat at a profit of 30%. If he reduces its selling price by Rs 60, then he suffers a loss of 10%. What was the initial selling price (in Rs)of the wheat?