Profit and Loss

Pratice Profit and Loss Questions and answers.

START PRACTICE
Rule Description
1

If S.P. > C.P. then there will be profit.

  • Profit = S.P. – C.P.
  • Profit % = \[\frac{Profit \times 100}{C.P.}\]

Note: Both profit and loss are always calculated on cost price only.

2

If C.P. > S.P. then there will be profit.

  • Loss = C.P. - S.P.
  • Loss % = \[\frac{Loss \times 100}{C.P.}\]
3

If an object is sold on r% Profit, then

  • S.P. = \[C.P.\left[\frac{100 + Profit \%}{100}\right]\]
  • C.P. = \[S.P.\left[\frac{100}{100 + Profit \%}\right]\]
4

If an object is sold on r% loss, then

  • S.P. = \[\left[\frac{100 - Loss \%}{100}\right]\]
  • C.P. = \[\left[\frac{100}{100 - Loss \%}\right]\]
5

If A sells an article to B at a% profit and B sells it to C at b% profit

(OR)

If a% and b% are two successive profits, then

Total Profit % = \[\left(a+b+\frac{ab}{100}\right)\%\]

6

If A sells an article to B at a% profit and B sells it to C at b% profit and if C paid x, then

amount paid by A will be

\[A=x\times\left(\frac{100}{100+a}\right)\left(\frac{100}{100+b}\right)\]

7

If a% and b% are two successive losses, then

Total Loss % = \[\left(-a-b+\frac{ab}{100}\right)\%\]

8

If a% profit and b% loss occur, simultaneously, then

overall loss or profit% is

\[\left(-a-b-\frac{ab}{100}\right)\%\]

9

If a% loss and b% profit occur, simultaneously then

overall loss or profit% is

\[\left(a-b-\frac{ab}{100}\right)\%\]

10

If a% loss and b% profit occur, simultaneously then

overall loss or profit% is

\[\left(a-b-\frac{ab}{100}\right)\%\]

11

If a% loss and b% profit occur then, total loss/profit is

\[\left(-a+b-\frac{ab}{100}\right)\%\]

12

If cost price of ‘x’ articles is equal to selling price of ‘y’ articles, then

Selling Price = x, Cost Price = y

Hence,

Profit or Loss % = \[\frac{x-y}{y} \times 100\]

13

On selling ‘x’ articles the profit or loss is equal to Selling of ‘y’ articles, then

  • Profit % = \[\frac{y \times 100}{x-y}\]
  • Loss % = \[\frac{y \times 100}{x+y}\]
14

If a man sells two similar objects, one at a loss of x% and another at a gain of x%, then he always incurs loss in this transaction and

loss % = \[\frac{x^2}{100} \%\]

15

A man sells his items at a profit/loss of x%. If he had sold it for R more, he would have gained/lost y%. Then

C.P. of items = \[\frac{R}{\left(y\pm x\right)}\times100\]

  • +’ = When one is profit and other is loss.
  • ’ = When both are either profit or loss.
16

If a man purchases ‘a’ items for x and sells ‘b’ items for y. then

profit or loss per cent is given by

\[\left(\frac{ay-bx}{bx}\right)\times100\%\]

17

If the total cost of ‘a’ articles having equal cost is x and the total selling price of ‘b’ articles is y, then in the transaction gain or loss per cent is given by

\[\left(\frac{ay-bx}{bx}\right)\times100\%\]

18

A dishonest shopkeeper sells his goods at C.P. but uses false weight, then

Gain % = \[\left(\frac{\text{True weight - False weight}}{\text{False weight}}\right)\times100\]

(OR)

Gain % = \[\left(\frac{\text{Error}}{\text{True value - Error}}\right)\times100\]

19

If A sells an article to B at a profit (loss) of r1% and B sells the same article to C at a profit (loss) of r2% then the cost price of article for C will be given by C.P of article for C =

\[\text{C.P. of A} \times\left(1\pm\frac{r_1}{100}\right)\left(1\pm\frac{r_2}{100}\right)\]

(Positive and negative sign conventions are used for profit and loss.)

20

If a vendor used to sell his articles at x% loss on cost price but uses y grams instead of z grams, then his profit or loss% is

\[\left[\left(100-x\right)\frac{z}{y}-100\right]\%\]

(Profit or loss as per positive or negative sign).