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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:

For an article the profit is 190% of the cost price. If the cost price increase by 10% but the selling price remains same, then profit is what percentage of selling price (approximately)?

A) 54 B) 62
C) 73 D) 163
 
Answer & Explanation Answer: B) 62

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Q:

By what fraction selling price (S.P.) must be multiplied to get the cost price (C.P.) if the loss is 20% ?

A) 4/5 B) 8/5
C) 5/4 D) 6/5
 
Answer & Explanation Answer: C) 5/4

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2 1228
Q:

Deepak sells all his goods available in his shop at the cost price, but he cheats his customer and gives 20% less goods as he should give. Find his % profit.

A) 30% B) 33%
C) 25% D) 20%
 
Answer & Explanation Answer: C) 25%

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Q:

A dishonest shopkeeper professes to sell goods at his cost price but uses a false weight of 950 gms, for each kilogram. His gain percentage is

A) 100/23% B) 100/19%
C) 100/17% D) 100/21%
 
Answer & Explanation Answer: B) 100/19%

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2 1219
Q:

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
 
Answer & Explanation Answer: B) Rs. 320

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2 1217
Q:

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

A) 1% loss B) 1% gain
C) 1.5% loss D) 1.5 gain
 
Answer & Explanation Answer: B) 1% gain

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Q:

A sells a watch to B and makes a loss of 12%. B makes a profit of 12.5% by selling the watch to C. If A sells the watch to B at the cost of which C purchased it, then the percentage of loss or profit of A will be,

A) 1% loss B) 1% profit
C) 2% loss D) 2% profit
 
Answer & Explanation Answer: A) 1% loss

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Q:

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
 
Answer & Explanation Answer: C) 40 percent gain

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