Profit and Loss Formulas for Competitive Exams

Profit-Loss is an important topic which questions ask in the competitive exams. Profit and loss questions are based on transactions. So, here I am telling you about profit and loss formulas that how to use formulas while solving these questions. Here are solved profit-loss questions so that you will be able to understand these questions. Instead of that, here are also given questions with solutions for your better practice or preparation.

You can easily solve these types of questions if you know Profit and Loss Trick to solve. Click on Profit-Loss Formulas to know more formulas.

Profit Loss Formulas with Profit and Loss Questions

Cost Price (CP) -

The money paid by the shopkeeper to the manufacturer or money paid by the customer to the shopkeeper is called the cost price (CP) of the goods.

Selling Price (SP) -

The price at which the shopkeeper sells the goods is called the selling price (SP).

Profit or Gain -

Whenever, a person sells an article at price greater than the cost price, he is said to have made a profit or gain.

Profit or Gain = SP – CP [SP>CP]

Loss -

If the selling price of an article is less than its cost price, then the shopkeeper suffers a loss.

Loss = CP – SP [CP>SP]

Example of Profit loss formula with question.

1. If a person sells two similar articles, one at a gain of a% and another at a loss of a%, then the seller always incurs a loss which is given by loss percent 

A man sold two radios for Rs. 2000 each. On one he gains 16% and on the other he losses 16%. Find his gain or loss percent in the whole transaction.

(A) 4.00

(B) 2.56

(C) 3.36

(D) 2.50

According to the formula,

Loss percent = (a/10)²= (16/10)²= 256/100 = 2.56%.

2. If a dishonest trader professes to sell his items at CP but uses false weight, then

Or

A dishonest dealer professes to sell his goods at cost price but he uses a weight of 930 g for a kg weight. Find his gain percent.

(A)

(B)

(C)

(D) 0

According to the formula,

3. If cost price of a articles is equal to the selling of b articles, then profit percentage 

If the cost price of 20 articles is equal to the selling price of 18 articles, find the profit per cent.

(A)

(B)

(C)

(D)

Given that, a = 20, b = 18

According to the formula,

4. A tradesman marks his goods at a% above the cost price and gives purchases at discount of b% for cash, there is % profit or loss according to (+) ve or (-) ve sign.

A tradesman marks his goods at 20% above the cost price and allows purchase a discount of 10% for cash. What profit percent does he make?

(A) 6

(B) 0

(C) 8

(D) 10

Given that, a = 20%, b = 10%

According to the formula, Required answer =

= (20-12) = 8% Profit.

5. A businessman sells his items at a profit a%. If he had sold it for Rs R more, he would have gained b% Then, 

A person sold a table at profit of. If he had sold it for Rs. 1250 more, he would have gained 19%. Find the CP of the table.  

(A) Rs. 10000

(B) Rs. 20000

(C) Rs. 15300

(D) Rs. 2000

Here,

According to the formula,

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.