Profit and Loss

  • FORMULAS:
    1. SP > CP --> Profit 
    2. SP < CP ---> Loss 
    3. MRP - P ---> SP 
    4. Profit and Loss is always depended on Cost price only
  • 1. A table is bought for Rs.400/- and sold at Rs.500/- find gain or loss percentage 
A.) 25% Loss
B.) 30% Gian
C.) 25% Gian
D.) 30% Loss

Answer: Option 'C'

Formula = (Selling price ~ Cost price)/Cost price × 100 
            = (500 - 400)/400 = 25% gain

  • 2. A chair is bought for Rs.900/- and sold at Rs.810/- find the loss percentage 
A.) 10% gain
B.) 10% loss
C.) 12% loss
D.) 12% gain

Answer: Option 'B'

Formula = (Selling price ~ Cost price)/Cost price × 100 
= (810 ~ 900)/900 = 10% Loss

  • 3. A bat is bought for Rs.400 and sold at a gain of 20% find its selling price 
A.) Rs.320/-
B.) Rs.350/-
C.) Rs.370/-
D.) Rs.480/-

Answer: Option 'D'

100 % ------> 400 (100 × 4 = 400) 
120 % ------> 480 (120 × 4 = 480) 
Selling price = Rs.480/-

  • 4. A chair is bought for Rs.600/- and sold at a loss of 10% find its selling price
A.) Rs.540/-
B.) Rs.560/-
C.) Rs.580/-
D.) Rs.600/-

Answer: Option 'A'

100 % ------> 600 (100 × 6 = 600) 
90 % ------> 540 (90 × 6 = 540) 
Selling price = Rs.540/-

  • 5. By selling a watch for Rs.640/-, a man loses 20% what is that watch cost price 
A.) Rs.400/-
B.) Rs.600/-
C.) Rs.800/-
D.) Rs.1000/-

Answer: Option 'C'

80 % ------> 640 (80 × 8 = 640) 
100 % ------>800 (100 × 8 = 800) 
Cost price = Rs. 800/-