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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 wholesaler sells a good to a retailer at a profit of 5% and the retailer sells it to a customer at a profit of 10%. If the customer pays Rs. 2,000, what had it cost (in Rs) the wholesaler?

A) 1731.6 B) 3210.6
C) 1931.6 D) 2310.6
 
Answer & Explanation Answer: A) 1731.6

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Q:

A wholesaler sells a watch to a retailer at a profit of 33% and the retailer sells it to a customer at a loss of 20%. If the customer pays Rs 2,181.2, what had it cost the wholesaler?

A) Rs 2050 B) Rs 2320
C) Rs 2712 D) Rs 1780
 
Answer & Explanation Answer: A) Rs 2050

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Q:

A store sells a watch for a profit of 25% of the cost. Then the percentage of profit against selling price is

A) 22% B) 20%
C) 18% D) 15%
 
Answer & Explanation Answer: B) 20%

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Q:

The ratio of selling price to the cost price is 13 : 17. What is the loss percentage?

A) 23.52 B) 27.74
C) 18.62 D) 19.45
 
Answer & Explanation Answer: A) 23.52

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Q:

On selling 30 caps, a shopkeeper earns profit equal to the selling price of 3 caps. What is the profit percentage?

A) 12.5 B) 11.11
C) 10 D) 14.28
 
Answer & Explanation Answer: B) 11.11

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Q:

When a discount of 20% is given on a monthly train pass, the profit is 44%. If the discount is 29%, then the profit is _____.

A) 73 percent B) 118.2 percent
C) 17.4 percent D) 27.8 percent
 
Answer & Explanation Answer: D) 27.8 percent

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Q:

A wholesaler sells a jacket to a retailer at a profit of 5% and the retailer sells it to a customer at a profit of 10%. If the customer pays Rs. 4158, what had it cost (in Rs) to the wholesaler?

A) 3500 B) 3400
C) 3300 D) 3600
 
Answer & Explanation Answer: D) 3600

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Q:

A grocer had 1600 kgs of wheat. He sold a part of it at 20% profit and the rest at 12% profit, so that he made a total profit of 17%. How much wheat (in kg) did he sell at 20% profit?

A) 600 B) 1000
C) 800 D) 1200
 
Answer & Explanation Answer: B) 1000

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