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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 difference between cost price and selling price is Rs 575. If profit percentage is 23%, then what is the selling price (in Rs)?

A) 3225 B) 1925
C) 2500 D) 3075
 
Answer & Explanation Answer: D) 3075

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2 1107
Q:

Vinay professes to lose 4% on sugar and uses a weight of 620 gm instead of 1 kg. What is the total profit percentage?

 

A) 44.24   B) 34.14  
C) 35.41   D) 54.84
 
Answer & Explanation Answer: D) 54.84

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1 1095
Q:

By selling an item for Rs. 696 Unnati incurred a loss of 13%. By how much should she have raised the price to gain a profit of 10%?

A) Rs. 160.08 B) Rs. 104
C) Rs. 84 D) Rs. 184
 
Answer & Explanation Answer: D) Rs. 184

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3 1086
Q:

If cost price of 5 cars is equal to selling price of 4 cars. Find the percentage of profit or loss?

A) 10% Profit B) 10% Loss
C) 25% Profit D) 25% Loss
 
Answer & Explanation Answer: C) 25% Profit

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1 1085
Q:

Profit of Rs 936000 has to be divided among three partners Anirudhha, Balwant and Charudatta in the ratio 2:3:5. How much does Charudatta get?

A) 280800 B) 187200
C) 468000 D) 2340000
 
Answer & Explanation Answer: C) 468000

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0 1083
Q:

Mukesh sells two shirts. The cost price of the first shirt is equal to the selling price of the second shirt. The first shirt is sold at a profit of 30% and the second shirt is sold at a loss of 30%. What is the ratio of the selling price of the first shirt to the cost price of the second shirt?

A) 91 : 100 B) 100 : 91
C) 31 : 50 D) 50 : 31
 
Answer & Explanation Answer: A) 91 : 100

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7 1082
Q:

If the ratio of cost price and selling price be 10:11, then the profit percentage is

A) 1% B) 10%
C) 5% D) 8%
 
Answer & Explanation Answer: B) 10%

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2 1080
Q:

A trader buys 500 kgs of cotton for Rs 9,000. 10% of this cotton is spoiled due to rain. At what rate (Rs/Kg) should he sell the rest to earn 10% profit?

A) 25 B) 30
C) 22 D) 20
 
Answer & Explanation Answer: C) 22

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2 1063