Profit and Loss Formulas for Competitive Exams

Profit Loss Formulas with Profit and Loss Questions

Q.1. A person sold two cows each for Rs. 9900. If he gained 10% on one and lost 20% on the other, then which of the following is true?

(A) He gained Rs. 200

(B) He lost Rs. 200

(C) He neither gained nor lost

(D) None of these

Show Answer

Solution

= 9900/1.1 = Rs. 9000

And profit = Rs. 900

The CP of loss yielding cow = 9900/0.8

= Rs. 12375 and loss = Rs. 2475

So, the net loss

= 2475 – 900 = Rs. 1575.

Q.2. A shopkeeper sold 12 cameras at a profit of 20% and 8 camera at a profit 10%. If he had sold all the 20 cameras at a profit of 15%, then his profit would have been reduced by Rs. 36. What is the cost price of each camera?

(A) Rs. 100

(B) Rs. 150

(C) Rs. 180

(D) Rs. 220

Show Answer

Solution

180×12×1.2+180×8×1.1

= 180[14.4+8.8]

= 180(23.2) = 4176.

And 180×20×11.5=4140

There fore loss = 4176 – 4140 = 36.

Hence, option (C) is correct.

Q.3. A man by 400 orange at Rs. 4 and 500 orange at Rs. 2. He mixes them together and sells them at Rs. 3. Find his percent loss or gain.

(A)

(B)

(C)

(D)20

Show Answer

Solution

Total SP = = Rs. 300

Percent profit = 

⸫ Percent loss = 

Q.4. A man sells two articles, each for the same price of Rs. 420. He earns 20% profit on the first and 40% profit on the second. Find his overall percent profit.

(A) 27

(B) 33.3

(C) 37.25

(D) 29.23

Show Answer

Solution

Total SP of both articles = Rs. 840

CP of first article =

CP of Second article =

Total CP of both articles = (350+300) = Rs. 650

Overall per cent gain

Q.5. A balance of a trader weighs 10% less than it should be. Still the trader marks up his goods to get the overall profit of 20%. What is the marks up on the cost price?

(A) 40%

(B) 8%

(C) 25%

(D) 16.66%

Show Answer

Solution

But he weighs 900 g for every 1000 g.

⸫ Value of goods sold = 900

Now, let the marks up be x%

⸫

= (1000+10x)

But, Since MP = SP

⸫ SP = (1000+10x)

Hence, Profit percent

=

⸫ X = 8.

if you face any problem while solving profit and loss questions, you can ask me in the comment section. For more Profit and loss questions and answers, Visit next page.