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/-

To whom this Profit and Loss Question and Answers section is beneficial?

Students can learn and improve on their skillset for using Profit and Loss effectively and can also prepare for competitive examinations like...

  • All I.B.P.S and Public Sector Bank Competitive Exam
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  • Career Aptitude Test (IT Companies) and etc.