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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 book seller allowed 10% discount on printed price. He gets 30% commission from publisher. His profit in percent will be

A) 20 B) 28 4/7
C) 25 D) 26 3/7
 
Answer & Explanation Answer: B) 28 4/7

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Q:

The marked price is 10% higher than the cost price . A discount of 10% is given to the marked price . In this kind of sale the seller

A) bears no gain , no loss B) gains
C) loses 1% D) None of these
 
Answer & Explanation Answer: C) loses 1%

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Q:

The marked price of an article is 60% more than its cost price. If the article is sold for Rs 300 after offering a discount of Rs 20, then what will be the profit percentage?

A) 45 B) 50
C) 25 D) 45
 
Answer & Explanation Answer: B) 50

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Q:

Cost price of 28 articles is equal to Sale price of 21 articles, then percentage of profit is

A) 12% B) 33 1⁄3 %
C) 20% D) 22%
 
Answer & Explanation Answer: B) 33 1⁄3 %

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Q:

If a wholesaler, sells a box of chocolates at Rs 960 he gains 20%. Now if he decides to sell it at Rs 1120, what is his profit percentage?

A) 30 B) 40
C) 50 D) 60
 
Answer & Explanation Answer: B) 40

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Q:

A merchant marks the price of his articles 30% above the cost price. He gives some discount on it and earns a profit of 13.75%. What is the discount percentage?

A) 12.5 B) 13.75
C) 16.25 D) 10.25
 
Answer & Explanation Answer: A) 12.5

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Q:

The difference between cost price and selling price is Rs 12.54. If loss percentage is 33%, then what is the cost price (in Rs)?

A) 35.44 B) 50.54
C) 41 D) 38
 
Answer & Explanation Answer: D) 38

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Q:

The marked price of a helmet is 30% more than its cost price. If the helmet is sold for Rs 744 after a discount of Rs 36, then what will be the profit percentage?

A) 24 B) 18
C) 21 D) 27
 
Answer & Explanation Answer: A) 24

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