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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:

A shopkeeper offers 2.5% discount on cash purchases . What cash amount would Rohit pay for a cycle , the marked price of which is Rs.3600 ?

A) Rs. 3490 B) Rs. 3500
C) Rs. 3510 D) Rs. 3520
 
Answer & Explanation Answer: C) Rs. 3510

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Q:

A shopkeeper, sold dried apricots at the rate Rs 1210 a kg and bears a loss of 12%. Now if he decides to sell it at Rs 1331 per kg, what will be the result?

A) 6.4 percent loss B) 3.2 percent gain
C) 6.4 percent gain D) 3.2 percent loss
 
Answer & Explanation Answer: D) 3.2 percent loss

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Q:

A trader had 1200 kgs of rice. He sold a part of it at 5% profit and the rest at 11% profit, so that he made a total profit of 7%. How much (in kg) wheat did he sell at 5% profit?

A) 900 B) 600
C) 400 D) 800
 
Answer & Explanation Answer: D) 800

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Q:

A dealer sold an article at 6% loss. Had he sold it for Rs. 64 more, he would have made a profit of 10%. Then the cost of the article is

A) Rs.400 B) Rs.200
C) Rs.164 D) Rs.464
 
Answer & Explanation Answer: A) Rs.400

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Q:

A shopkeeper purchased 510 eggs at the rate of Rs. 20 per dozen. 30 eggs were broken on the way. In order to make a gain of 20%, he must sell the remaining eggs at the rate of

A) Rs. 22.50 per dozen B) Rs. 25.50 per dozen
C) Rs. 26 per dozen D) Rs. 26.50 per dozen
 
Answer & Explanation Answer: B) Rs. 25.50 per dozen

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Q:

Cost price of a calculator is Rs 495. If the profit percentage is 40%, then what is the value (in Rs) of profit?

A) 226 B) 198
C) 186 D) 218
 
Answer & Explanation Answer: B) 198

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Q:

A bookseller bought 500 text books for  20,000. He wanted to sell them at a profit so that he get 50 books free. At what profit percent should he sell them?

A) 10 B) 20
C) 15 D) 10.5
 
Answer & Explanation Answer: A) 10

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Q:

A vendor buys some lemons at the rate of 11 for Rs 10 and sells at the rate of 4 for Rs 5. What will be the result?

A) 37.5 percent loss B) 27.27 percent gain
C) 37.5 percent gain D) 27.2 percent loss
 
Answer & Explanation Answer: C) 37.5 percent gain

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