Profit And Loss Questions

Profit and loss questions

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Profit And Loss Questions

 Profit and Loss – Important Formulas

IMPORTANT FACTS

Cost Price:

The price, at which an article is purchased, is called its cost price, abbreviated as C.P.

Selling Price:

The price, at which an article is sold, is called its selling prices, abbreviated as S.P.

Profit or Gain:

If S.P. is greater than C.P., the seller is said to have a profit or gain.

Loss:

If S.P. is less than C.P., the seller is said to have incurred a loss.

IMPORTANT FORMULAE

 

1. Gain = (S.P.) – (C.P.)

2. Loss = (C.P.) – (S.P.)

3. Loss or gain is always reckoned on C.P.

4. Gain % =		x 100
   		C.P.

    

5. Loss % =		x 100
   		C.P.

    

6. Selling Price: (S.P.)

   SP =		(100 + Gain %)	x C.P
   		100

    

7. Selling Price: (S.P.)

   SP =		(100 – Loss %)	x C.P.
   		100

    

8. Cost Price: (C.P.)

   C.P. =		100	x S.P.
   		(100 + Gain %)

    

9. Cost Price: (C.P.)

   C.P. =		100	x S.P.
   		(100 – Loss %)

    

10. If an article is sold at a gain of say 35%, then S.P. = 135% of C.P.

11. If an article is sold at a loss of say, 35% then S.P. = 65% of C.P.

12. 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 %		2	=		x		2	.
    		10					10

     

13. If a trader professes to sell his goods at cost price but uses false weights, then

    Gain % =		Error	x 100	%.
    		(True Value) – (Error)

     

 

Profit and Loss – General Questions

 

1.	Alfred buys an old scooter for Rs. 4700 and spends Rs. 800 on its repairs. If he sells the scooter for Rs. 5800, his gain percent is:
	A. 4 4 % 7 B. 5 5 % 11 C. 10% D. 12% Answer: Option B Explanation: Cost Price (C.P.) = Rs. (4700 + 800) = Rs. 5500. Selling Price (S.P.) = Rs. 5800. Gain = (S.P.) – (C.P.) = Rs.(5800 – 5500) = Rs. 300. Gain % = 300 x 100 % = 5 5 % 5500 11

 

2.	The cost price of 20 articles is the same as the selling price of x articles. If the profit is 25%, then the value of x is:
	A. 15 B. 16 C. 18 D. 25 Answer: Option B Explanation: Let C.P. of each article be Re. 1 C.P. of x articles = Rs. x. S.P. of x articles = Rs. 20. Profit = Rs. (20 – x). 20 – x x 100 = 25 x    2000 – 100x = 25x 125x = 2000  x = 16.

6.	The percentage of profit earned by selling an article for Rs. 1920 is equal to the percentage loss incurred by selling the same article for Rs. 1280. At what price should the article be sold to make a 25% profit?
	A. Rs. 2000 B. Rs. 2200 C. Rs. 2400 D. Data inadequate Answer: Option A Explanation: Let C.P. be Rs. x. Then, 1920 – x x 100 = x – 1280 x 100 x x  1920 – x = x – 1280  2x = 3200  x = 1600  Required S.P. = 125% of Rs. 1600 = Rs. 125 x 1600 = Rs 2000. 100

7.	A shopkeeper expects a gain of 22.5% on his cost price. If in a week, his sale was of Rs. 392, what was his profit?
	A. Rs. 18.20 B. Rs. 70 C. Rs. 72 D. Rs. 88.25 Answer: Option C Explanation: C.P. = Rs. 100 x 392 = Rs. 1000 x 392 = Rs. 320 122.5 1225    Profit = Rs. (392 – 320) = Rs. 72.

 

8.	A man buys a cycle for Rs. 1400 and sells it at a loss of 15%. What is the selling price of the cycle?
	A. Rs. 1090 B. Rs. 1160 C. Rs. 1190 D. Rs. 1202 Answer: Option C Explanation: S.P. = 85% of Rs. 1400 = Rs. 85 x 1400 = Rs. 1190 100

 

9.	Sam purchased 20 dozens of toys at the rate of Rs. 375 per dozen. He sold each one of them at the rate of Rs. 33. What was his percentage profit?
	A. 3.5 B. 4.5 C. 5.6 D. 6.5 Answer: Option C Explanation: Cost Price of 1 toy = Rs. 375 = Rs. 31.25 12   Selling Price of 1 toy = Rs. 33 So, Gain = Rs. (33 – 31.25) = Rs. 1.75  Profit % = 1.75 x 100 % = 28 % = 5.6% 31.25 5

 

10.	Some articles were bought at 6 articles for Rs. 5 and sold at 5 articles for Rs. 6. The gain percent is:
	A. 30% B. 33 1 % 3 C. 35% D. 44% Answer: Option D Explanation: Suppose, number of articles bought = L.C.M. of 6 and 5 = 30. C.P. of 30 articles = Rs. 5 x 30 = Rs. 25. 6   S.P. of 30 articles = Rs. 6 x 30 = Rs. 36. 5    Gain % = 11 x 100 % = 44%. 25

 

Question Answer

1. 1043 को किसी संख्या से भाग देने पर भागफल 11 तथा शेषफल 20 प्राप्त होता है, भाजक ज्ञात कीजिए ?

(A) 95

(B) 93

(C) 73

(D) 97

 

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