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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 marks up his wares by 80% and offers 20% discount. What will be the selling price (in Rs) if the cost price is Rs 450?

A) 548 B) 748
C) 848 D) 648
 
Answer & Explanation Answer: D) 648

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Q:

Raghunandan sells a machine for Rs 45 lakhs at a loss. Had he sold it for Rs 55 lakh, his gain would have been 9 times the former loss. Find the cost price of the machine.

A) Rs 54 lakhs B) Rs 46 lakhs
C) Rs 60 lakhs D) Rs 38 lakhs
 
Answer & Explanation Answer: B) Rs 46 lakhs

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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:

The difference between the selling prices of an article sold at 4% and 3% profits is Rs.3 The cost price of the article is :

A) Rs. 400 B) Rs. 350
C) Rs. 300 D) Rs. 100
 
Answer & Explanation Answer: C) Rs. 300

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Q:

The profit earned by a shopkeeper by selling a bucket at a gain of 8% is Rs 28 more than when he sells it at a loss of 8%. The cost price (in Rupees) of the bucket is

A) 170 B) 190
C) 175 D) 165
 
Answer & Explanation Answer: C) 175

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Q:

A shopkeeper, sold walnuts at the rate Rs 1,190 a kg and bears a loss of 10%. Now if he decides to sell it at Rs 1,249.5 per kg, what will be the result?

A) 11 percent loss B) 5.5 percent loss
C) 5.5 percent gain D) 11 percent gain
 
Answer & Explanation Answer: B) 5.5 percent loss

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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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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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