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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 cheats to the extent of 11% while buying and selling fruits, by using tampered weights. His total gain in percentage is

A) 23.25 B) 23.21
C) 23.75 D) 23.5
 
Answer & Explanation Answer: B) 23.21

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Q:

A shopkeeper buys a product of Rs 150 per Kg. 15% of product was damaged. At what price (per Kg) should he sell the remaining so as to earn a profit of 20%?

A) Rs. 207 B) Rs. 207 11/180
C) Rs. 211 13/17 D) Rs. 204 7/13
 
Answer & Explanation Answer: C) Rs. 211 13/17

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Q:

The marked price of a calculator is Rs 750. It is sold at a discount of 22%. If the cost price of the calculator is Rs 500, then what is the profit (in Rs)?

 

A) 85   B)  105  
C)  95   D) 115
 
Answer & Explanation Answer: A) 85  

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Q:

If 10% loss is made on selling price, then the rate of loss on the cost price will be

A) 11 1/9% B) 9 1/11%
C) 10% D) 11%
 
Answer & Explanation Answer: A) 11 1/9%

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Q:

A merchant marks the price of his articles 20% above the cost price. If he allows 20% discount, then what is the profit or loss percentage?

A) 2% loss B) 4% profit
C) 4% loss D) No profit/loss
 
Answer & Explanation Answer: C) 4% loss

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Q:

Selling price of an article is Rs 27692 and loss percentage is 14%. If the selling price is Rs 37352, then what will be the profit percentage?

A) 13.8 B) 18.6
C) 14 D) 16
 
Answer & Explanation Answer: D) 16

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Q:

A dishonest milkman buys milk at Rs 24 per litre and adds 1/3 of water to it and sells the mixture at Rs 32 per litre. What is his gain?

A) 33.33 percent B) 50 Percent
C) 77.78 percent D) 66.67 percent
 
Answer & Explanation Answer: C) 77.78 percent

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Q:

To dispose of the old stocks, a person sold a tea-set for Rs. 3420, which was 43% below the cost price. In order to make a profit of 10% the seller should have sold the set for Rs. ___ more.

A) Rs. 3180 B) Rs. 2580
C) Rs. 1812.60 D) Rs. 2664.42
 
Answer & Explanation Answer: A) Rs. 3180

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