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Profit and Loss

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 = $(\frac{P r o f i t}{C . P} \times 100)$

2. Loss percentage = $(\frac{L o s s}{C . P} \times 100)$

3. $S . P = [\frac{100 + G a i n %}{100} \times C . P] = [\frac{100 - L o s s %}{100} \times C . P]$

4. $C . P = [\frac{100}{100 + G a i n %} \times S . P] = [\frac{100}{100 - L o s s %} \times S . P]$

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 : $L o s s % = (\frac{C o m m o n L o s s a n d G a i n %}{10})^{2} = {(\frac{x}{10})}^{2}$

8. If a trader Professes to sell his goods at cost price, but uses false weihts, then

$G a i n % = [\frac{E r r o r}{T r u e V a l u e - E r r o r} \times 100] %$

The marked price of a trouser is twice of the cost price. To earn 36% profit, what should be the value of discount (in percentage)?

A) 33	B) 32
C) 34	D) 36

A) 33

B) 32

C) 34

D) 36

Answer & Explanation Answer: B) 32

Explanation:

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4 1397

A shopkeeper by selling 9 Rolex watches, earns a profit equal to the selling price of 4 Rolex watches. His profit percentage is

A) 44.4 percent	B) 88.8 percent
C) 80 percent	D) 8.8 percent

A) 44.4 percent

B) 88.8 percent

C) 80 percent

D) 8.8 percent

Answer & Explanation Answer: C) 80 percent

Explanation:

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4 1396

A vendor buys some bananas at the rate of 2 for Re 1 and sells at the rate of 10 for Rs 7. What will be the result?

A) 40 percent loss	B) 28.57 percent gain
C) 40 percent gain	D) 28.5 percent loss

A) 40 percent loss

B) 28.57 percent gain

C) 40 percent gain

D) 28.5 percent loss

Answer & Explanation Answer: C) 40 percent gain

Explanation:

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0 1388

If the selling price is doubled, the profit triples. The profit percent is

A) 66.6%	B) 150%
C) 100%	D) 190%

A) 66.6%

B) 150%

C) 100%

D) 190%

Answer & Explanation Answer: C) 100%

Explanation:

Let CP be x and SP be y.

3(y –x) = (2y –x)y = 2x

Profit = y –x = 2x –x = x

Profit% = x/x X 100 = 100%

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2 1383

A and B invest Rs. 3000 and Rs. 2400 respectively in a business. If after one year there is a loss of Rs. 720, how much loss will B bear? (Loss or Profit is in proportion to their investments)

A) Rs. 72	B) Rs. 320
C) Rs..400	D) Rs. 360

A) Rs. 72

B) Rs. 320

C) Rs..400

D) Rs. 360

Answer & Explanation Answer: B) Rs. 320

Explanation:

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2 1383

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

A) 45

B) 50

C) 25

D) 45

Answer & Explanation Answer: B) 50

Explanation:

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4 1383

A shopkeeper by selling 22 Skechers shoes, earns a profit equal to the selling price of 6 Skechers shoes. His profit percentage is:

A) 27.2 percent	B) 37.5 percent
C) 54.4 percent	D) 16.9 percent

A) 27.2 percent

B) 37.5 percent

C) 54.4 percent

D) 16.9 percent

Answer & Explanation Answer: B) 37.5 percent

Explanation:

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1 1380

Mr. Kapur purchased two toy cycles for Rs 750 each. He sold these cycles, gaining 6% on one and losing 4% on the other. The gain or loss percent in the whole transaction is