Profit and Loss Questions

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 selling price of 6 bananas is equal to the cost price of 8 bananas. Then the percentage of profit is

A) 20 B) 33 1/3
C) 25 D) 30
 
Answer & Explanation Answer: B) 33 1/3

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Profit and Loss
Exam Prep: Bank Exams

3 1786
Q:

A trader had 2000 kgs of rice. He sold a part of it at 10% profit and the rest at 16% profit, so that he made a total profit of 14.2%. How much rice (in kg) did he sell at 10% profit?

A) 1400 B) 600
C) 800 D) 1000
 
Answer & Explanation Answer: B) 600

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Profit and Loss
Exam Prep: Bank Exams

4 1783
Q:

A trader had 6 quintals of wheat. He sold a part of it at 7% profit and the rest at 17% profit, so that he made a total profit of 11%. How much wheat did he sell at 17% profit?

A) 360 kg B) 240 kg
C) 120 kg D) 480 kg
 
Answer & Explanation Answer: B) 240 kg

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Profit and Loss
Exam Prep: Bank Exams

1 1777
Q:

A trader had 16 quintals of wheat. He sold a part of it at 17% profit and the rest at 27% profit, so that he made a total profit of 21%. How much wheat did he sell at 27% profit?

A) 960 kg B) 640 kg
C) 320 kg D) 1280 kg
 
Answer & Explanation Answer: B) 640 kg

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Profit and Loss
Exam Prep: Bank Exams

4 1772
Q:

The marked price of a chair is Rs 550 and a discount of 20% is given on it. What is the selling price (in Rs)?

A) 440 B) 430
C) 470 D) 390
 
Answer & Explanation Answer: A) 440

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Profit and Loss
Exam Prep: Bank Exams

0 1768
Q:

A trader had 22 quintals of wheat. He sold a part of it at 23% profit and the rest at 33% profit, so that he made a total profit of 27%. How much wheat did he sell at 33% profit?

A) 1320 kg B) 440 kg
C) 880 kg D) 1760 kg
 
Answer & Explanation Answer: C) 880 kg

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Profit and Loss
Exam Prep: Bank Exams

7 1766
Q:

The marked price of a chair is 40% more than its cost price. If the chair is sold for Rs 520 after a discount of Rs 40, then what will be the profit percentage?

A) 33 B) 40
C) 25 D) 30
 
Answer & Explanation Answer: D) 30

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Profit and Loss
Exam Prep: Bank Exams

2 1762
Q:

Mohit sells a table at a profit of 25%. If he reduces its selling price by Rs 240, then he suffers a loss of 5%. What was the initial selling price (in Rs) of the table?

A) 800 B) 1000
C) 1040 D) 1120
 
Answer & Explanation Answer: B) 1000

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Profit and Loss
Exam Prep: Bank Exams

1 1757