Profit and Loss formula and tricks Questions for Students

Profit and Loss formula and tricks Questions for Students

Profit and Loss formula and tricks:- Selling and buying something like any object it is nature of men’s. But taking profit it get something loss. But how we find out profit and loss. We will cover with some solved questions for students.

Cost price or Purchase Price

When we buy any product then it is called Cost price or purchase price of this product. For Example: – Mohan bought a pen worth Rs.20, and then the cost price of this pen is Rs.20.

Sales price or Selling Price

When we sale or sales by anyone it is called sales price of that product. For Example- Mohan sold his pen Rs.25 rupees, therefore the selling price of this pen will be Rs.25.

Profit or Gain

If the selling price of any product is more than the purchase price then there is profit. For Example:- Mohan bought a pen worth Rs.20 rupees and sold this pen is Rs.25, here he get profit .

Loss

If selling any product get loss or if the selling price is less than the purchase price then this position is get loss. For Example:- If Rajesh bought a pen worth Rs.20 and sales to anyone Rs.15 then he get loss.
Loss = Cost Price – Sales Price

Percentage: Profit and Loss

The meaning of percentage is 100. The meaning of percentage profit and loss is how much profit or loss i made in 100 rupees.

Profit% = profit x 100/CP (Here CP is Cost Price)

Loss% = Loss X 100/CP

Overhead

It is expense, when we buy any product then we pay tax or commission and transportation it is overhead expense. These expenses added in Cost price.

Discount or Rebate

Discount is remains written with products-price, and given to customers,

Cash Discount:- is given on Cash purchase. Trade Discount: is offered to increase the sales.

Profit and Loss formula and tricks

Profit & Loss Solved Exaples

Question 1: Cost price of a book is Rs.110 and sold it Rs.123.20 then finds the gain or loss?

Solve:-

Gain = SP – CP = 123.20 – 110 = 13.20

Gain% = Profit x 100/CP = 13.20 x 100/110 = 12%

Question 2: A pen is bought Rs.1960 and sold it Rs.1862. Find out the loss percentage?

Solve:-

Loss = CP – SP = 1960 – 1862 = 98

==>% Loss = 98 x 100/1960 = 5%

Question 3: The purchase price of 15 articles is equal to the selling price of 12 articles, then find out the profit percentage?

Solution:

We have,

SP = 15, CP = 12

Gain = SP- CP = 15 – 12 = 3

Gain% = 3 x 100/12 = 25%

Question 4: A fruit-seller bought 6 bananas in Rs.15 and sold it 4 bananas in Rs.12. Find the profit and loss percentage?

Solution:

Cp of 6 bananas = 15 ==> 1 banana CP = 15/6 = 2.50

Sp of 4 bananas = 12 ==> 1 banana SP= 12/4 = 3

Gain = 3.00 – 2.50 = 0.50

% Gain = 0.50 x 100/2.50 = 20%

Question 5: Aditya sold a cow Rs.525 and get profit 5% then find the cost price of that cow?

Solution:-

CP = 100×525/105 =500

Question 6: After selling a chair Rs.873 get loss 10%, then find the cost price of the dealer?

Solution:-

CP = 100 x 873/90 = 970

Question 7: After selling a watch Rs.2880 a man get 10% loss. If he wants to get 5% profit then find the selling price of this watch?

Solution:-

CP = 100 x 2880/90 = 3200 if 5% profit then

SP = 105 x 3200/100 = 3360

Question 8: If an item is sold 10% profit instead of 5% loss , then dealer get Rs.75 more. Find the cost price of this item?

Solution:-

Let the CP of this article is x

==>110x/100 – 95x/100 = 75

==> 110x – 95x /100 = 75

==> 15x = 7500

==> x = 7500/15 = 500

Question 9: One man sold two horses on Rs.32500 on each. If he get 15% profit of one horse and other 15% loss then find out the total profit and loss?

Solution:-

Loss% = (15/10)2% = 2.25%

Profit & Loss Selected Objective Questions

 Question 10: A dishonest shopkeeper declare sells any items in cost prise, but he use 900 gram weight instead of 1 kilogram. Find out his profit %.

Solution:

Profit% = {Error X 100/accurate Wt-Error}% = { 100 x 100/(1000-100)}%

==> [100 x 100/900} = 100/9

Question 11: A shopkeeper give discount 10% on printed value on an item, but getting 8% profit what is cost price of that item?

Solution:-

Let the cost price is = 100, SP = 108 and let the printed value is x

==> x x 90% = 108

==> 90x = 108 x 100 = 10800

==> x = 10800/90 = 120 , means 20% more

Question 12: Three respective equivalent discounts are 20%, 10% and 5% and find the discount?

Solution:-

Le to be the print value of product is Rs.100

==> SP= 100 x 80% x 90% x95%= {100 x 80/100 x 90/100 x 95/100}

==> 68.40

==> Equivalent discount = 100 – 68.40 = 31.6%

Question 13: Minal bought a car Rs.250000 and sold it Rs.348000, then find the Percentage gain of this Car?

(a) 40%     (b) 39.2%     (c) 38.4%      (d) 38%     (e) None of these.

Question 14: one trader buys some eggs from Rs.P every dozen and sold it Rs.P/8 each egg. Then find out his profit percentage?

(a) 30%     (b) 40%     (c) 50%      (d) 60%

Question 15: One man sold a book worth Rs.891 and get profit 1/10, then what is cost price of this book?

(a) 850     (b) 800     (c) 810      (d) None of these

Question 16: One trader bought a rice of 26 kilograms in Rs.2470, and he sold 10 kilogram rice Rs.110 per kilograms. At what rate will he sell the remaining rice to earn a profit of Rs.70?

(a) 90     (b) 95    (c) 85      (d) 75     (e) None of these.

Profit and Loss basic questions

Question 17: Rajesh buy a cooler for Rs.4700 and spends Rs.800 for repairs on it and sell it or Rs.5800. Then find the gain in percentage?

(a) 20%      (b) 60/11%     (c) 15%        (d) 20%

Question 18: A Man sold an item in Rs. 6759 and loss 25%. If he sold at 15% profit then find out the selling price of that item?

(a) 10530      (b) 9950     (c) 10350        (d) 11340     (e) None of these

Question 19: Sohan bought a pen worth Rs.75 and sold after time it Rs.90. Then find out his profit?

Solution:

==>CP = 75, SP = 90, Gain = SP – CP = 90 – 75 = 15

Question 20: In summer season archana buy a refrigerator in Rs.4000 and it sold it after end of season Rs.3500. Then find the loss?

Solution:-

==> CP= 4000, SP=3500,

Loss= CP-SP = 4000-3500 = 500

Question 21: Mohini bought an air cooler in Rs.5000 and sold it after 6 months in RS.4000, then find his profit and loss percentage?

Solution:-

Loss = 5000 – 4000 = 1000

==>% Loss = 1000 x 100/5000 = 20%

Question 22: Hari buy a cycle for Rs.1400 and sells it at a loss of 15%. Find the selling price of this cycle?
Solution:-

S.P. = 85% of Rs. 1400 = Rs.85x 1400= Rs. 1190
100
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