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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:

The ratio of selling price to the cost price is 21 : 16. What is the profit percentage?

 

A) 35.75 B) 21.75  
C) 27.75 D) 31.25
 
Answer & Explanation Answer: D) 31.25

Explanation:
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Q:

Rahul went to purchase a Nokia mobile handset, the shopkeeper told him to pay 20% tax if he asked the bill. Rahul manages to get the discount of 5% on the actual saleprice of the mobile and he paid the shopkeeper Rs. 3325 without tax. Besides he manages to avoid to pay 20% tax on the already  discounted price, what is the amount of discount that he has gotten?

A) 750 B) 375
C) 875 D) 525
 
Answer & Explanation Answer: C) 875

Explanation:

CP = 100, SP (with tax) =120

 

New   SP = 100 - 5 = 95

 

 Effective discount = 120 - 95 = 25 

 

So, at SP of 95 ----> discount = 25

 

and      at SP of 3325 -----> discount = 2595×3325 = 875

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54 23623
Q:

The cash difference between the selling prices of an article at a profit of 4% and 6% is Rs 3. The ratio of two selling prices is

A) 51:52 B) 52:53
C) 53:54 D) 54:55
 
Answer & Explanation Answer: B) 52:53

Explanation:

Let the Cost price of article is Rs. x

Required ratio = (104% of x) / (106% of x)

                            =104/106

                            =52/53 = 52:53                     

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39 23301
Q:

In what ratio should water and wine be mixed so that after selling the mixture at the cost price a profit of 33.33% is made?

A) 1:4 B) 1:3
C) 2:3 D) 3:4
 
Answer & Explanation Answer: B) 1:3

Explanation:

33.33% profit means there is one part water and 3 part is pure wine. so the required ratio of water and wine in the mixture is 1:3

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64 23214
Q:

Ajay bought 15 kg of dal at the rate of Rs 14.50 per kg and 10 kg at the rate of Rs 13 per kg. He mixed the two and sold the mixture at the rate of Rs 15 per kg. What was his total gain in this transaction ?

A) Rs 1.10 B) Rs 11
C) Rs 16.50 D) Rs 27.50
 
Answer & Explanation Answer: D) Rs 27.50

Explanation:

Cost price of 25 kg = Rs. (15 x 14.50 + 10 x 13) = Rs. 347.50.
Sell price of 25 kg = Rs. (25 x 15) = Rs. 375.
profit = Rs. (375 — 347.50) = Rs. 27.50.

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47 23043
Q:

A, B and C invest in the ratio of 3 : 4: 5. The percentage of return on their investments are in the ratio of  6 : 5 : 4. Find the total earnings, If B earns Rs. 250 more than A :

A) Rs. 6000 B) Rs. 7250
C) Rs. 5000 D) None of these
 
Answer & Explanation Answer: B) Rs. 7250

Explanation:

                                         A                  B                   C

 

investment                    3x                 4x                  5x

 

Rate of return              6y%              5y%                4y%

 

Return                        18xy100  20xy100  20xy100                

 

               Total = (18+20+20) = 58xy100

 

     B's earnings - A's earnings  = 2xy100 = 250

 

     Total earning = 58xy100 = 7250

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67 22695
Q:

By selling 33 m clothes, a person gains cost price of 11 m clothes. Find the gain %.

 

A) 30% B) 33.33%
C) 25% D) 35%
 
Answer & Explanation Answer: B) 33.33%

Explanation:
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Q:

Refer the below data table and answer the following question.

What was the total profit or loss of the company in the last 5 years?

A) Loss of Rs 45 crores B) Profit of Rs 55 crores
C) Profit of Rs 45 crores D) Loss of Rs 55 crores
 
Answer & Explanation Answer: C) Profit of Rs 45 crores

Explanation:
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