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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:

U starts a business by investing Rs 45000 and V join him after one year with an amount of Rs 33000. After two years from the starting of business, they earned profit of Rs 16400. What will be the U’s share (in Rs) in the profit?

A) 11200 B) 9600
C) 10000 D) 12000
 
Answer & Explanation Answer: D) 12000

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Q:

The line passing through point (-3,1) and point (x,5) is parallel to the line passing through point (-2,-1) and point (6,3). What is the value of x?

A) -5 B) -2
C) 2 D) 5
 
Answer & Explanation Answer: D) 5

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Q:

Mohan earns a profit of 20% on selling a jean at 15% discount on printed price. The ratio of the cost price to printed price of the jean is

A) 17:24 B) 17:34
C) 16:13 D) 21:23
 
Answer & Explanation Answer: A) 17:24

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Q:

If the loss of percent on article is 15%. Then the ratio of the cost price and sell price will be

A) 17:20 B) 20:17
C) 23:15 D) 15:23
 
Answer & Explanation Answer: B) 20:17

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Q:

The ratio of the cost price and selling price of an article is 5 : 3. What is the loss percentage?

A) 40 B) 20
C) 66.66 D) 33.33
 
Answer & Explanation Answer: A) 40

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Q:

A retailer gets a discount of 40% on the printed price of an article. The retailer sells it at the printed price. His gain percent is

A) 40 B) 55
C) 66 2/3 D) 75
 
Answer & Explanation Answer: C) 66 2/3

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Q:

The marked price of a door is Rs 1400. It is sold at a discount of 28%. If the cost price of the door is Rs 700, then what is the profit (in Rs)?

A) 340 B) 428
C) 308 D) 368
 
Answer & Explanation Answer: C) 308

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Q:

A shopkeeper by selling 13 Titan watches, earns a profit equal to the selling price of 3 Titan watches. His profit percentage is

A) 30 percent B) 23.0 percent
C) 46 percent D) 16 percent
 
Answer & Explanation Answer: A) 30 percent

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