PROFIT AND LOSS

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Profit & Loss

• Relation between CP, SP and MP

• Concept of profit/loss percent and Discount percent
• Number of articles based questions
• Successive discount problems
• Concept of Dishonest shopkeeper/ Faulty weight
• Data Sufficiency on related topic

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 Profit and Loss

Profit or Gain = Selling price – Cost Price

•     Loss = Cost Price – Selling Price

•     Profit % = (Profit /Cost Price) x 100

•     Loss % = (Loss / Cost price) x 100

•     Discount = Marked Price – Selling Price

•     Discount % = (Discount/Marked price) x 100

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 Profit and Loss

 CP = Cost Price = The price at which an object is Purchased

 SP = Selling Price = The price at which the object is Sold.

When, SP < CP → Loss = CP - SP
When, SP > CP → Profit = SP - CP

Note: Loss% and Profit% both are calculated upon CP

Profit% = [Profit/CP] * 100
Loss% = [Loss/CP] * 100

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 Profit and Loss

 When profit% is given, say, 10% profit

If 10% profit, then we simply do:

CP = 100% and SP = 110%

 When loss% is given, say, 10% loss

For 10% loss, then we simply do:

CP = 100% and SP = 90%

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 Profit and Loss

1. Sam purchased 20 dozens of toys at the rate of Rs.

375 per dozen. He sold each one of them at the rate
of Rs. 35. What was his percentage profit?

A] 15 B]14
C]8 D]12

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 Profit and Loss

2. 100 oranges are bought at the rate of Rs. 350 and sold at
the rate of Rs. 48 per dozen. The percentage of profit or
loss is:

A]100/7 B]44/3
C]100/9 D]70/3
 Profit and Loss

3. A shopkeeper expects a gain of 22.5% on his cost

price. If in a week, his sale was of Rs. 784, what was his
profit?

A] 144 B] 72
C] 36 D] 180
 Profit and Loss

4. On selling 17 balls at Rs. 720, there is a loss equal to

the cost price of 5 balls. The cost price of a ball is
 
A] 50 B] 60
C] 80 D] 70

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 Profit and Loss

5. When a plot is sold for Rs. 18,700, the owner loses

15%. At what price must that plot be sold in order to
gain 20%?

A] 26000 B] 26400
C] 26200 D] 26800

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 Profit and Loss

6. In a certain store, the profit is 350% of the cost. If the

cost increases by 25% but the selling price remains
constant, approximately what percentage of the selling
price is the profit?

A] 70.2 B] 75
C] 72.2 D] 75.5
 Profit and Loss

7. Rohit buys an old cycle for Rs. 5500 and spends Rs.
1000 on its repairs. If he sells the cycle for Rs. 8000, his
gain percent is:

A] 300/13 B]500/13
C] 200/13 D]400/13

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 Profit and Loss

• When the SP of x articles is equal to CP of y articles, what is

the earned profit in percentage?

• Profit percent = 100× difference in x and y/x

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 Profit and Loss

8. The cost price of 16 article equal to selling price of 12 of

them. The gain or loss percent in the transaction is:
A] 33.33 % Gain B] 23.33% loss
C] 23.33 % Gain D] 33.33 % loss

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 Profit and Loss

9. A shopkeeper sells one mouse for Rs. 840 at a gain of

20% and another for Rs. 960 at a loss of 4%. His total
gain or loss percent is

A] 50/17 B] 200/17
C] 100/13 D] 100/17

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 Profit and Loss

10. The percentage profit earned by selling an article for

Rs. 1920 is equal to the percentage loss incurred by
selling the same article for Rs. 1280. At what price
should the article be sold to make 30% profit?

A]2000 B]2050
C]2100 D]2080

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 Profit and Loss

11. Alia makes toys for her living. On any day she makes
as many toys as the price per toy. Everyday she sells all
her toys at a profit of Rs. 30 per piece. If at the end of the
day she makes a profit of 20%, then how much overall
profit did she make by the end of the day?

A] 9000 B] 15000
C] 4500 D] 3000

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 Profit and Loss

12. A vendor bought toffees at 7 for a rupee. How many

for a rupee must he sell to gain 40%?.

A]6 B]4
C]7 D]5
 Profit and Loss

13. Some articles were bought at 5 articles for Rs. 4 and

sold at 4 articles for Rs. 5. Gain percent is:

A] 56.25 B] 56.75
C] 56 D] 57
 Profit and Loss

14. The cost price of 27 articles is the same as the selling

price of x articles. If the profit is 50 %, then the value
of x is:

A]16 B]11
C]18 D]14

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 Profit and Loss
Case 1:Equal % profit & loss on the same cost price of 2
articles:
If the cost price of two items are X, and one is sold at a loss of p
% and the other at a profit of p %, then the two transactions
have resulted in no loss or no gain.

Case 2 :Equal % profit & loss on the same selling price of 2

articles:
If two items are sold at Rs X each, one at a loss of p % and the
other at a gain of p %, then the two transactions have resulted in
an overall loss of (p2/100) %. This is the loss in percentage

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 Profit and Loss

15. A man sells 2 articles at the same price. On one he

makes a profit of 10% and on the other he makes a loss of
10%. What is his overall profit or loss percentage?

A] 1% Profit B] 2% Loss
C] 1% Loss D] No profit no loss

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 Profit and Loss

16. A shopkeeper give 20% discount on a article and sold

it with a profit of Rs.300. What is profit percentage if
market price is Rs. 2500?

A] 20% B] 12%
C] 15% D] 10%

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 Profit and Loss

17. A shopkeeper marked a product, 20% above the cost

price and sold the product for Rs. 7776 by giving two
successive discounts of 10% each. Find the cost price of
the product and the loss percentage of the shopkeeper.

A] 2.8 B] 2
C] 5.6 D] 3

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 Profit and Loss

18. Cost price and marked price of an article is in ratio

4:5. After allowing a discount of Rs. 200, ratio between
marked price and selling price is 10:9. Find the ratio of
profit after discount as a percent of cost price to the
profit without discount as a percent of selling price?

A] 16:9 B] 9:16
C] 16:27 D] 27:16

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 Profit and Loss
Dishonest Dealer: A dishonest dealer is one who claims to sell his product in welfare of customer
but either he alters weight or he marks
up price too high and then gives discount to attract customers.

Let us assume that the shopkeeper makes a gain of G% in selling his product.
Therefore,
(100+G)/(100+x) = True weight/ False weight
Here,
G = Overall gain percentage
X = %loss or % gain
Also, another formula that you can remember, in case the shopkeeper sells at the cost price, is: 

Gain Percentage:

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 Profit and Loss

19. A dishonest dealer professes to sell his good at cost

price but uses a false weight and thus gains 25%. For a
kilogram he uses a weight of

A] 800g B] 850g
C] 766.67g D] 875g
 Profit and Loss

20. Let a dishonest shopkeeper sells sugar at Rs 25/kg

which he has bought at Rs 20/kg and he is giving 800gm
instead of 1000gm. Find his actual profit percentage.

A] 50 B] 25
C] 25.5 D] 56.25

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 Profit and Loss

21. A trader mixes 26 kg of potato at Rs. 20 per kg

with 30 kg of potato of other variety at Rs. 36 per kg
and sells the mixture at Rs. 32 per kg. His profit
percent is?

A] 15 B] 12
C] 18 D] 6

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 Profit and Loss

22. A dealer buys apples at Rs.50, Rs. 40 and Rs. 30 per

kilogram. He mixes them in the ratio 2 :5 : 9 by weight, and
sells at a profit of 30%. At what approximate price per
kilogram does he sell the dry fruit ?

A] Rs 47 B] Rs 47.3
C] Rs 46 D] Rs 46.5

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 Profit and Loss
23. A man purchased pulses from two shops A and B and
mixes them together. The shopkeeper at A sells the pulses
at cost price but by adulteration makes a profit of 20%.
While shopkeeper at shop B sells without any adulteration.
When the man reaches home and cleans the pulses using
water he observes that 11(1/9) % of it gets separated as
impurity. How much quantity of pulses the man bought
from shop B if he bought 600gms from shop A?

A] 200 gm B] 160 gm
C] 250 gm D] 300 gm

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 Profit and Loss
24. Sachin purchases a new phone online. The phone is
available for Rs. 15000 which is Rs. 1000 less than the
MRP of the phone; he uses a debit card by which he gets
10% instant discount on the purchase. He had an old phone
of present market value Rs. 1600, which he puts for
exchange and gets rebate of Rs. 1200 on the new phone.
After transaction he gets a scratch card which gets
credited directly to his bank account. If in the whole
transaction he makes a profit of 14.5% on MRP, how much
money he got in scratch card?

A]320 B] 150
C] 220 D] 30 32
 Profit and Loss

25. The C.P of a Jeans is 10% more than C.P of a shirt.

The shopkeeper marked up Jeans at 20% above the C.P
and shirt at 30% above the C.P. Find the sum of
marked price of 4 Jeans and 5 shirts, if shopkeeper
allowed discount of 20% on shirt and 25% on Jeans
and the difference between selling prices of both is Rs.
100.

A] 23560 B] 23000
C] 11780 D] 11560

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 Profit and Loss
26. A shopkeeper purchased two products A and B. Cost
Price of both these articles are in ratio of 2:3 respectively.
Shopkeeper marked up the price and sold both the
products after giving discount of 25% and 50 %
respectively. Price of both the products were marked up
by Rs. 400 and Rs. 1400 respectively. If the selling price
of both the products are in ratio of 4:5, then what is cost
price of product B ?

A] 2600 B] 2500
C] 2400 D] 2700

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 Profit and Loss
Direction: Study the information carefully and answer
the question given below:
In the table, profit %, loss %, discount % and marked
price of five different items are given.
Items P% L% D% MP

P 30 20

Q 15 250

R 12 25

S 20 300

T 24 50 304

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 Profit and Loss
27. What is the ratio of Cost price and Market price of
item T?

A] 25:38 B] 38:25
C] 20:27 D] None of these

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 Profit and Loss
28. If the marked prices of item P and R are same, what is
the ratio of the selling prices of item R to item P

A] 25:38 B] 16:15
C] 15:16 D] None of these

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 Profit and Loss
29. If the cost price of the item Q is Rs. 200, what is the
discount given on item Q

A] 100 B] 80
C] 60 D] 70

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 Profit and Loss
30. If MP of R is 200 . Find the approx. CP of R?

A] 134 B] 150
C] 144 D] Not possible

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 Profit and Loss
31. If the cost price of the item Q is Rs. 180, what is the
discount percentage given on item Q?

A] 25 B] 13.3
C] 38.8 D] 12/5

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 Profit and Loss
Each of the questions given below consists of a statement and / or a question
and two statements numbered I and II given below it. You have to decide
whether the data provided in the statement(s) is / are sufficient to answer the
given question. Read the both statements and
Give answer (A) if the data in Statement I alone are sufficient to answer the
question, while the data in Statement II alone are not sufficient to answer the
question.
Give answer (B) if the data in Statement II alone are sufficient to answer the
question, while the data in Statement I alone are not sufficient to answer the
question.
Give answer (C) if the data either in Statement I or in Statement II alone are
sufficient to answer the question.
Give answer (D) if the data even in both Statements I and II together are not
sufficient to answer the question.
Give answer(E) if the data in both Statements I and II together are necessary
to answer the question.
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 Profit and Loss
32. A man mixes two types of rice (A and B) and sells the
mixture at the rate of Rs. 19 per kg. Find his profit percentage.

I. The rate of A is Rs. 22 per kg.

II. The rate of B is Rs. 15 per kg.

A. I alone sufficient while II alone not sufficient to answer

B. II alone sufficient while I alone not sufficient to answer
C. Either I or II alone sufficient to answer
D. Both I and II are not sufficient to answer
E. Both I and II are necessary to answer
 

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 Profit and Loss

33. By selling a product with 40% profit, how much profit was
earned?

I. The difference between cost and selling price is Rs. 60.

II. The selling price is 140 percent of the cost price.

A. I alone sufficient while II alone not sufficient to answer

B. II alone sufficient while I alone not sufficient to answer
C. Either I or II alone sufficient to answer
D. Both I and II are not sufficient to answer
E. Both I and II are necessary to answer
 

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 Profit and Loss

34. A shopkeeper sells some articles at the profit of 35% on the

original price. What is required to find the exact amount of
profit?

I. Sale price of the article

II. Number of articles sold 

A. Only I is necessary
B. Only II is necessary
C. Either I or II is necessary
D. Both I and II are necessary
E. None of these

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 Profit and Loss

35. A shopkeeper sells some gifts at Rs. 350 each. What percent
profit does he make?

I. Number of gifts sold is 40.

II. Cost price of each gift is Rs. 275.

A. Only I is necessary
B. Only II is necessary
C. Both I and II are necessary
D. Either I or II ins necessary
E. None of these

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 Profit and Loss

36. By selling an article what is the profit percent gained?

I. 10% discount is given on list price.

II. If discount is not given, 25% profit is gained.
III. The cost price of the articles is Rs. 10000

A. Only I and II
B. Only II and III
C. Only I and III
D. All I, II and III
E. None of these 

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Any Doubts???

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