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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:

If selling price of 39 articles is equal to the cost price of 42 articles, then what will be the profit percentage?

 

A) 8.33 B) 7.69
C)  9.09 D) 11.33
 
Answer & Explanation Answer: B) 7.69

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3 1214
Q:

A contractor has got two orders A and B. On one (A) he spends Rs. 25,000 and makes a bill of Rs. 30,500. On the other (B) he makes a bill keeping a profit of 20%. Which of the two orders is more profitable to him?

A) B B) A
C) A nor B D) None of the above
 
Answer & Explanation Answer: B) A

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3 1211
Q:

If cost price of 5 cars is equal to selling price of 4 cars. Find the percentage of profit or loss?

A) 10% Profit B) 10% Loss
C) 25% Profit D) 25% Loss
 
Answer & Explanation Answer: C) 25% Profit

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1 1208
Q:

By selling an item for Rs. 696 Unnati incurred a loss of 13%. By how much should she have raised the price to gain a profit of 10%?

A) Rs. 160.08 B) Rs. 104
C) Rs. 84 D) Rs. 184
 
Answer & Explanation Answer: D) Rs. 184

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3 1208
Q:

On selling 56 chairs, Mohan earns profit equal to the selling price of 6 chairs. What is the profit percentage?

 

A) 9.28 B) 10.71
C) 12 D) 13.7
 
Answer & Explanation Answer: C) 12

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5 1202
Q:

Rajat sells a machine for Rs 53 lakhs at a loss. Had he sold it for Rs 64 lakh, his gain would have been 10 times the former loss. Find the cost price of the machine.

A) Rs 63 lakhs B) Rs 69.3 lakhs
C) Rs 45 lakhs D) Rs 54 lakhs
 
Answer & Explanation Answer: D) Rs 54 lakhs

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0 1199
Q:

The total cost of a stove with cooker was Rs 13,125. The cooker was sold at a profit of 30% and the stove at a loss of 20%. If the sale price was the same in both the items, then the cost price of the cheaper item was

A) Rs 8125 B) Rs 5000
C) Rs 6562.5 D) Rs 6175
 
Answer & Explanation Answer: B) Rs 5000

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2 1197
Q:

Profit of Rs 936000 has to be divided among three partners Anirudhha, Balwant and Charudatta in the ratio 2:3:5. How much does Charudatta get?

A) 280800 B) 187200
C) 468000 D) 2340000
 
Answer & Explanation Answer: C) 468000

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0 1196