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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:

Due to reduction of 25% in price of oranges a customer can purchase 4 oranges more for Rs. 16. what is original price of an orange?

A) Rs 1 B) Rs 1.33
C) Rs 1.5 D) Rs 1.6
 
Answer & Explanation Answer: B) Rs 1.33

Explanation:

Recall it is based on inverse proportion or product constancy concept.

 

 

 

     Reducion in price                      increase in amount

 

 

 

         25%     1/4                              1/3   33.33% = 4 oranges

 

 

 

It means original number of oranges = 4 x 3 = 12

 

 

 

original price of oranges = 16/12 = Rs. 1.33

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185 33707
Q:

Bhajan Singh purchased 120 reams of paper at Rs 80 per ream. He spent Rs 280 on transportation, paid octroi at the rate of 40 paise per ream and paid Rs 72 to the coolie. If he wants to have a gain of 8 %, what must be the selling price per ream?

A) 90 B) 89
C) 87.48 D) 86
 
Answer & Explanation Answer: A) 90

Explanation:

Total investment = Rs. (120 * 80 + 280 + (40/100) * 120 + 72).
= Rs. (9600 + 280+48 + 72) = Rs, 10000.
Sell price of 120 reams = 108% of Rs. 10000 = Rs. 10800.
Sell Price per ream = Rs. [10800/120] = Rs. 90.

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58 29899
Q:

In a scheme, a pack of three soaps with MRP Rs.45 is available for Rs.42. If it still gives a profit of 5% to the shopkeeper, then the cost price of the pack is ?

A) 38 B) 39
C) 40 D) 41
 
Answer & Explanation Answer: C) 40

Explanation:

Given M.P=45,S.P=42, Profit = 0.05

Let C.P=x , Then

Profit = (42-x)/x = 0.05
=> x = 40.

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57 29517
Q:

By selling an article at Rs.800, a shopkeeper makes a profit of 25%.At what price should he sell the article so as to make a loss of 25%?

A) Rs.720 B) Rs.640
C) Rs.540 D) Rs.480
 
Answer & Explanation Answer: D) Rs.480

Explanation:

SP = Rs.800 ; Profit = 25%

 CP = SP x 100100+P% = 800 x 100100+25 = 640

 

 Now, CP = Rs.640

 

Loss = 25% = 25% of Rs.640 = Rs.160

 

Thus, SP = CP - Loss = Rs.640 - Rs.160 = Rs.480

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42 29041
Q:

The cost price of 20 articles is the same as the selling price of x articles. If the profit is 25%, then the value of x is:

A) 15 B) 16
C) 18 D) 25
 
Answer & Explanation Answer: B) 16

Explanation:

Let C.P. of each article be Re. 1 C.P. of x articles = Rs. x. 

S.P. of x articles = Rs. 20. 

Profit = Rs. (20 - x). 

20-xx*100=25 

=> 2000 - 100x = 25x 

=> 125x=2000 

=> x=16

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419 29037
Q:

Every year before the festive season,a shopkeeper increases the price of the product by 35% and then introduce two successive discount of 10% and 15% respectively.what is percentage loss and percentage gain ?

A) 3.27 % loss B) 4.15 % loss
C) 3.27 % gain D) 4.15 % gain
 
Answer & Explanation Answer: C) 3.27 % gain

Explanation:

Let cp= 100,
35 % increase in sp=135
10 % discount in 135((135*10)/100)=13.5
so 1st sp=(135-13.5)=121.5, again 15 % discount in 1st sp((121.5*15)/100)=18.225
2nd sp=(121.5-18.225)=103.275,

so finally cp=100,sp=103.275 ,gain by 3.27%

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50 28892
Q:

'A' sold an article to 'B' at a profit of 20%. 'B' sold the same article to 'C' at a loss of 25% and 'C' sold the same article to 'D' at a profit of 40%. If 'D' paid Rs 252 for the article, then find how much did 'A' pay for it?

A) Rs.196 B) Rs.210
C) Rs.200 D) Rs.235
 
Answer & Explanation Answer: C) Rs.200

Explanation:

Let the article costs 'X' to A
Cost price of B = 1.2X
Cost price of C = 0.75(1.2X) = 0.9X
Cost price of D = 1.4(0.9X) = 1.26X = 252
Amount paid by A for the article = Rs. 200.

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46 27966
Q:

On selling 17 balls at Rs. 720, there is a loss equal to the cost price of 5 balls. The cost price of a ball is ?

A) Rs. 55 B) Rs. 60
C) Rs. 65 D) Rs. 70
 
Answer & Explanation Answer: B) Rs. 60

Explanation:

Let the cost price of a ball is Rs.x
Given, on selling 17 balls at Rs. 720, there is a loss equal to the cost price of 5 balls
The equation is :
17x - 720 = 5x
Solving the equation
we get x = 60
Therefore, cost price of a ball is Rs. 60.

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