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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:

Vikash purchased 5 bananas for Rs.4 and sold 4 bananas for Rs.5. Calculate his % profit?

A) 55.56% B) 53.25%
C) 45.50% D) 56.25%
 
Answer & Explanation Answer: D) 56.25%

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Q:

Yaman sold an item at a loss of 10%. If he had sold it for Rs.57 more, he would have made a profit of 20%. What should be the selling price of the item to make a profit of 30%?

A) Rs.247 B) Rs.190
C) Rs.228 D) Rs.222.30
 
Answer & Explanation Answer: A) Rs.247

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Q:

R and S started a business by investing Rs 165000 and Rs 195000 respectively for the same period of time. If R’s share in the profit earned by them is Rs 11000, then what is the total profit (in Rs) earned by both of them together?

A) 22000 B) 40000
C) 26000 D) 24000
 
Answer & Explanation Answer: D) 24000

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Q:

If selling price of 39 articles is equal to the cost price of 42 articles, then what will be the profit percentage?

 

A) 8.33 B) 7.69
C)  9.09 D) 11.33
 
Answer & Explanation Answer: B) 7.69

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2 978
Q:

A shopkeeper marks the price of an article at Rs. 320. Find the cost price if after allowing a discount of 10%, he still gains 20% on the cost price.

A) Rs. 240 B) Rs. 280
C) Rs. 300 D) Rs. 264
 
Answer & Explanation Answer: A) Rs. 240

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Q:

P, Q and R are partners in a company. In any year P receives 1/9 part of profit, Q receives 1/6 part of profit and R receives Rs 130000. How much amount (in Rs) will P get as profit?

A) 40000 B) 36000
C) 18000 D) 20000
 
Answer & Explanation Answer: D) 20000

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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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Q:

Qamar gained 16% on the resale of a used stereo. If he purchased the item for Rs. 1500, how much did he sell it for?

A) Rs. 1740 B) Rs. 1660
C) Rs. 1600 D) Rs. 1820
 
Answer & Explanation Answer: A) Rs. 1740

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