Problems on Profit and Loss

Problems on Profit and Loss

Learn and practice Problems on profit and loss with easy explaination and shortcut tricks. All questions and answers on profit and loss covered for various Competitive Exams

Solve Problems:

1) A shopkeeper sold an article for Rs. 2500. If the cost price of the article is 2000, find the profit percent.

  1. 23%
  2. 25%
  3. 27%
  4. 29%
View Answer

The Correct answer is (B)

Answer with explanation:

C.P. = Rs. 2000

S.P. = Rs. 2500

Profit or Gain = S.P. -C.P.

= 2500 – 2000 = 500

Apply formula: Profit % =Profit ∗100
                                        C.P.
       =500 ∗100 =25 %
         2000

2) A man purchases a TV for Rs. 8000 and sells it at 10% loss. What is the selling price of T.V?

  1. Rs.7200
  2. Rs.7000
  3. Rs.6900
  4. Rs.6500
View Answer

The Correct answer is (A)

Answer with explanation:

C.P. of the TV = Rs. 8000

S.P. of the TV =?

Loss incurred = 10%

Apply formula: Selling Price =* C.P.

Therefore, S.P. =(100-10)/100 * 8000

= 90/100 * 8000 = 7200

Try to solve more problems on profit and loss.

3) Ramesh bought a chair for Rs. 1540 and sold it to Suresh. If Ramesh earned a profit of 25%, find the selling price of chair.

  1. Rs.1875
  2. Rs.1900
  3. Rs.1925
  4. Rs.1950
View Answer

The Correct answer is (C)

Answer with explanation:

C.P. of the chair = Rs. 1540

S.P. of the chair =?

Profit earned = 25%

Apply formula: Selling Price =(100+Profit%) ∗C.P.
                                                                100

Therefore, S.P. =(100+25) ∗1540
                                  100
       =125 ∗1540
         100

=1925

4) A shopkeeper purchases a table and sells it for Rs. 4200. If he incurs a loss of 20%, find the cost price of table.

  1. Rs.5250
  2. Rs.5150
  3. Rs.5052
  4. Rs.5200
View Answer

The Correct answer is (A)

Answer with explanation:

S.P. of the table = Rs. 4200

C.P. of the table =?

Loss incurred = 20%

Apply formula: Cost Price = 100/(100- loss%) ∗ S.P.

C.P. =100/(100-20) ∗4200

        =100 ∗4200
           80

= 5250

5) Suresh bought a cell phone from a shop. If he sells it at Rs. 8400 to Mahesh and earns a profit of 12%, find the price at which Suresh bought the cell phone.

  1. Rs.7100
  2. Rs.7250
  3. Rs.7350
  4. Rs.7500
View Answer

The Correct answer is (D)

Answer with explanation:

S.P of the cell phone = Rs. 8400

C.P. of the cell phone =?

Profit earned = 12 %

Apply formula: Cost Price =100/(100+profit%) ∗S.P.

Therefore, C.P. =100/(100+12) ∗8400

       =100 ∗8400 = 7500
         112

Try to solve more problems on profit and loss.

6) A shopkeeper bought a watch for Rs. 1200. At what price should he sell the watch to earn a profit of 25% ?

  1. Rs. 1400
  2. Rs. 1450
  3. Rs. 1500
  4. Rs. 1550
View Answer

The Correct answer is (C)

Answer with explanation:

C.P. of watch = Rs. 1200

Profit = 25%

S.P. of watch =?

Shopkeeper wants to earn profit of 25% so he has to keep the selling price 125%  (125)of the cost price.
                                                                                                                         100

Therefore S.P.=(125) ∗1200 = 1500
                      100

Solution 2:

Apply formula: Selling Price =(100+Profit%) ∗C.P.
                                                         100
 =(100+25) ∗C.P.
       100
 =125 ∗1200 = 1500
   100

7) Mohan bought an article at 25% less of the marked price and sold it at 15% more than the marked price. Find the profit earned by him.

  1. 53.3 %
  2. 55%
  3. 57.3%
  4. 52.3 %
View Answer

The Correct answer is (A)

Answer with explanation:

Let the marked price be Rs. 100

∴ C.P. = 100 -25 = 75

And, S.P. = 100 + 15 = 115

Profit (S.P. -C.P.) = 115 -75 = 40

Profit % =profit/cost price ∗100

 =40∗100=53.3%
   75

8) If the cost price of 120 mangoes is equal to the selling price of 100 mangoes, what is the profit percent in this transaction?

  1. 15%
  2. 17%
  3. 20%
  4. 21%
View Answer

The Correct answer is (C)

Answer with explanation:

Let the C.P. of 120 mangoes be Rs. 120

As per question, S.P. of 100 mangoes = Rs. 120

C.P. of 100 mangoes would be = Rs. 100

Profit = (S.P.- C.P.) = 120 -100 = 20

Profit percent =profit/cost price ∗100

 =20 ∗100=20%
   100

Solution 2:

Apply formula:  (P-Q)/Q * 100
 =120 – 100∗100=20%
       100

9) After selling 140 apples a fruit seller earns a profit equal to S.P. of 20 apples. His profit percentage is:

  1. 15.7%
  2. 16.7%
  3. 18.7%
  4. 20%
View Answer

The Correct answer is (B)

Answer with explanation:

Let selling price of 140 apples be Rs. 140

Profit = selling price of 20 apples = Rs. 20

C.P. = S.P. – Profit

= 140 – 20= 120

Profit percent = profit/cost price ∗100

 =20∗100=16.7%
   120

10) The cost price of 30 articles is equal to the selling price of 25 articles. What is the profit percentage in this transaction?

  1. 20%
  2. 18%
  3. 15%
  4. 13%
View Answer

The Correct answer is (A)

Answer with explanation:

Let the cost price of each article be Rs. 1

∴ C.P. of 25 articles = Rs. 25

S.P. of 25 articles = C.P. of 30 articles = Rs. 30

Profit = Profit (S.P. – C.P.) = 30 -25 = 5

Profit % = profit/cost price ∗100 = 20 %
   25

Solution 2:

Apply formula: (P-Q)/Q * 100%
 =30-25 ∗100=20%
     25

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