Profit and Loss  Shortcuts and Formulas
Cost Price (C.P): Price at which an article is purchased, is called its cost price.
Selling Price (S.P): Price at which an article is sold, is called its selling prices.
Loss: If S.P. is less than C.P., the seller is said to have incurred a loss.
Profit or Gain: If S.P. is greater than C.P., the seller is said to have a profit or gain.
If the Selling Price is is more than the Cost Price we can Make Profit. or If the Cost Price is more than the Selling Price then we will end up with Loss.
Profit = Selling Price (S.P)  Cost Price (C.P)
Percentage of Profit / Loss is calculated on the cost price by the following formula
 Profit Percent = (Profit / Cost Price) X 100
 Loss = Cost Price (C.P)  Selling Price (S.P)
 Loss Per Cent = (Loss / Cost Price) X 100
Note :
1. Profit Or Loss Per Cent is always calculated on C.P and not in S.P
2. Overhead expenses like Packaging, Transportation etc. are always added to the cost price to get the total C.P. and then profit per cent or loss per cent is calculated on this total cost price.
3. When the C.P and the S.P are given for different number of articles, first of all find C.P and S.P of equal number of articles and then only calculate profit per cent or loss per cent.
Marked Price and Discount: When we go to a shop, we find price tags attached to the goods. The original price written on the price tag is called the "Marked Price". Sometimes, a reduction or concession is given on some Goods. We call this reduction as "Discount" . In Business, Discount is to attract the customers. More the sale, More the Profit . Discount is given directly in terms of Money or in terms of other attractive articles. Direct discount is given on the labelled price. Which is much more than the actual cost price the seller has to pay. It is calculated in percentage. Seller gets profit even after giving discount to you.
The discount is always calculated on the Marked Price
Profit and Loss Formulas
 Gain = (S.P.)  (C.P.)
 Loss = (C.P.)  (S.P.)
 Loss or gain is always reckoned on C.P.
 Gain Percentage: Gain% =
 Loss Percentage: Loss% =
 Selling Price: SP =
 Selling Price: SP =
 Cost Price: CP =
 Cost Price: CP =
 If an article is sold at a loss of say, 35% then S.P. = 65% of C.P.
Profit and Loss Questions from Previous Year Exam
Quizsummary
0 of 38 questions completed
Questions:
 1
 2
 3
 4
 5
 6
 7
 8
 9
 10
 11
 12
 13
 14
 15
 16
 17
 18
 19
 20
 21
 22
 23
 24
 25
 26
 27
 28
 29
 30
 31
 32
 33
 34
 35
 36
 37
 38
Information
IBPS Questions related to profit and loss.
You have already completed the quiz before. Hence you can not start it again.
Quiz is loading...
You must sign in or sign up to start the quiz.
You have to finish following quiz, to start this quiz:
Results
0 of 38 questions answered correctly
Your time:
Time has elapsed
You have reached 0 of 0 points, (0)
Average score 

Your score 

Categories
 Not categorized 0%
 1
 2
 3
 4
 5
 6
 7
 8
 9
 10
 11
 12
 13
 14
 15
 16
 17
 18
 19
 20
 21
 22
 23
 24
 25
 26
 27
 28
 29
 30
 31
 32
 33
 34
 35
 36
 37
 38
 Answered
 Review

Question 1 of 38
1. Question
A man sold 250 chairs and had a gain equal to selling price of 50 chairs. His profit percent is.
Correct
sell price of 200 chairs = cost price of 250 chairs
let cost price of each chair is Rs 1
cost price of 200 chairs = 200
sell price of 200 chairs = 250
gain % = = 25%
(since; gain = sp of 250 chairs  cost price of 250chairs hence sp of 250 chairs  cost price of 250 chairs = SP of 50 chairs)
Incorrect
sell price of 200 chairs = cost price of 250 chairs
let cost price of each chair is Rs 1
cost price of 200 chairs = 200
sell price of 200 chairs = 250
gain % = = 25%
(since; gain = sp of 250 chairs  cost price of 250chairs hence sp of 250 chairs  cost price of 250 chairs = SP of 50 chairs)

Question 2 of 38
2. Question
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 15%?
Correct
85 : 18700 = 115 : x
= 25300.
Hence, S.P. = Rs. 25,300
Incorrect
85 : 18700 = 115 : x
= 25300.
Hence, S.P. = Rs. 25,300

Question 3 of 38
3. Question
A man buys an article for Rs. 27.50 and sells it for Rs 28.60. Find his gain percent
Correct
C.P of an article= 27.50
S.P of an article = 28.60
gain= SP CP
28.60  27.50= 1.10
Gain% = %
% = 4 %
Incorrect
C.P of an article= 27.50
S.P of an article = 28.60
gain= SP CP
28.60  27.50= 1.10
Gain% = %
% = 4 %

Question 4 of 38
4. Question
If by selling 110 mangoes, the C.P. of 120 mangoes is realised, the gain percentage is :
Correct
Let C.P. of each mango be Rs. 1.
C.P. of 110 mangoes = Rs. 110;
By selling 110 mangoes, the C.P. of 120 mangoes is realised, therefore
S.P. of 110 mangoes = Rs. 120.
Gain = = 9 .0101%
Incorrect
Let C.P. of each mango be Rs. 1.
C.P. of 110 mangoes = Rs. 110;
By selling 110 mangoes, the C.P. of 120 mangoes is realised, therefore
S.P. of 110 mangoes = Rs. 120.
Gain = = 9 .0101%

Question 5 of 38
5. Question
A merchant who marked his goods up by 50% subsequently offered a discount of 20%. What is the percentage profit that the merchant make after offering the discount?
Correct
Let cost price = 100
The merchant marks his goods up by 50%.
Therefore, his quoted price = cost price + mark up
= 100 + 50% of 100 = 100 + 50 = 150
Now, the merchant offers a discount of 20% on his quoted price
Therefore, amount of discount = 20% of 150 = 20% of 150 = 30
Therefore, he finally sells it for 150  30 = 120.
We assumed his cost to be 100 and he sold it finally for 120.
Therefore, his net profit = 20 on his cost of 100
Hence, his % profit = = 20%.
Incorrect
Let cost price = 100
The merchant marks his goods up by 50%.
Therefore, his quoted price = cost price + mark up
= 100 + 50% of 100 = 100 + 50 = 150
Now, the merchant offers a discount of 20% on his quoted price
Therefore, amount of discount = 20% of 150 = 20% of 150 = 30
Therefore, he finally sells it for 150  30 = 120.
We assumed his cost to be 100 and he sold it finally for 120.
Therefore, his net profit = 20 on his cost of 100
Hence, his % profit = = 20%.

Question 6 of 38
6. Question
By selling 45 lemons for Rs 40, a man loses 20 %. How many should he sell for Rs 24 to gain. 20 % in the transaction ?
Correct
Let S.P. of 45 lemons is Rs 40
And he sell them of 20 % loss
Therefore cp of 45 lemon =
CP of 1 lemon =
sp of new transaction = 24
But we want gain of 20 %
Therefore cp =
The cp of 1 lemon = = 18
Incorrect
Let S.P. of 45 lemons is Rs 40
And he sell them of 20 % loss
Therefore cp of 45 lemon =
CP of 1 lemon =
sp of new transaction = 24
But we want gain of 20 %
Therefore cp =
The cp of 1 lemon = = 18

Question 7 of 38
7. Question
The ratio of the cost price and the selling price is 4 : 5. The profit percent is :
Correct
The S.P and C.P is 5 and 4
Gain= S.P  C.P= 5  4 = 1
Gain%= % = 25%
Incorrect
The S.P and C.P is 5 and 4
Gain= S.P  C.P= 5  4 = 1
Gain%= % = 25%

Question 8 of 38
8. Question
A man buys an article for 10% less than its value and sells it for 10% more than its value. His gain or loss percent is :
Correct
Let the value of the article be Rs. 100.
The man buys for 10% less than its value, therfore he buys for Rs. 90.
The man sells for 10% more than its value, therfore he sells for Rs. 110.
Obviously, he makes gain and the gain = 110  90 = 20
In percentage, Gain = = 22.22 %
Thus, he makes more than 20% profit.
Incorrect
Let the value of the article be Rs. 100.
The man buys for 10% less than its value, therfore he buys for Rs. 90.
The man sells for 10% more than its value, therfore he sells for Rs. 110.
Obviously, he makes gain and the gain = 110  90 = 20
In percentage, Gain = = 22.22 %
Thus, he makes more than 20% profit.

Question 9 of 38
9. Question
A TV is purchased at Rs. 5000 and sold at Rs. 4000, find the lost percent.
Correct
The C.P and S.P is 5000 and 4000.
loss= CPSP
loss= %
loss= %= 20 %
Incorrect
The C.P and S.P is 5000 and 4000.
loss= CPSP
loss= %
loss= %= 20 %

Question 10 of 38
10. Question
Vikash bought a suitcase with 15% discount on the labelled price. He said the suitcase for Rs.2880 with 20% profit on the labelled price. At what price did he buy the suitcase?
Correct
Let the labelled price be Rs.x. Then, 120% of x = 2880
Therefore x = = 2400.
= 85% of Rs.2400 = Rs = Rs.2040.
Incorrect
Let the labelled price be Rs.x. Then, 120% of x = 2880
Therefore x = = 2400.
= 85% of Rs.2400 = Rs = Rs.2040.

Question 11 of 38
11. Question
A man sells two houses at the rate of Rs. 1.995 lakh each. On one he gains 5% and on the other, he loses 5%. His gain or loss percent in the whole transaction Is :
Correct
Incorrect
Loss%= % = 0.25%.

Question 12 of 38
12. Question
A sells an article which costs him Rs. 400 to B at a profit of 20%. B then sells it to C, making a profit of 10% on the price he paid to A. How much does C pay B?
Correct
20% profit on 400 = = 80
Thus A sells the article for 480 Rs. to B.
10% profit on 480 = = 48
Thus B sells the article for 528 Rs. to C. (48 Rs profit on 480 Rs  (480 + 48)) = 528
Incorrect
20% profit on 400 = = 80
Thus A sells the article for 480 Rs. to B.
10% profit on 480 = = 48
Thus B sells the article for 528 Rs. to C. (48 Rs profit on 480 Rs  (480 + 48)) = 528

Question 13 of 38
13. Question
The list price of an article is Rs. 920. The selling price after two consecutive discounts is Rs. 742.90. If first discount is 15% then what will be the rate of second?
Correct
The C.P and S.P is 920 and 742.90
loss= CPSP= 920742.90= 117.1
%
% = 20 %
1st Discount is 15% and total discount is 20%
2nd discount = total  1st discount= 5%
Incorrect
The C.P and S.P is 920 and 742.90
loss= CPSP= 920742.90= 117.1
%
% = 20 %
1st Discount is 15% and total discount is 20%
2nd discount = total  1st discount= 5%

Question 14 of 38
14. Question
Jacob bought a scooter for a certain sum of money. He spent 10% of the cost on repairs and sold the scooter for a profit of Rs. 1100. How much did he spend on repairs if he made a profit of 20% ?
Correct
Let the price at which Jacobs bought the scooter (C.P) be Rs. 100. He spent Rs. 10 on repairs, so that makes the total cost to be Rs. 110.
He sold the scooter at a 20% profit, and 20% of 110 is 22, so he sold the scooter at a profit of Rs. 22.
Now, when the CP is Rs. 100, the profit is Rs. 22. When the profit is Rs. 1100, the CP is
CP = = Rs5,000
Therefore, he spent Rs. 500 on repairs. It is assumed that the cost of the repairs is added to the original cost price of the scooter and the profit percentage is calculated on this price and not the original cost price.
Incorrect
Let the price at which Jacobs bought the scooter (C.P) be Rs. 100. He spent Rs. 10 on repairs, so that makes the total cost to be Rs. 110.
He sold the scooter at a 20% profit, and 20% of 110 is 22, so he sold the scooter at a profit of Rs. 22.
Now, when the CP is Rs. 100, the profit is Rs. 22. When the profit is Rs. 1100, the CP is
CP = = Rs5,000
Therefore, he spent Rs. 500 on repairs. It is assumed that the cost of the repairs is added to the original cost price of the scooter and the profit percentage is calculated on this price and not the original cost price.

Question 15 of 38
15. Question
A fruit seller purchases oranges at the rate of 3 for Rs 5 and selIs them at 2 for Rs 4. His profit in the transaction is:
Correct
Let number of iranges = LCM of 2,3,4,5 = 60
cost price of 60 oranges = = 100
sell price of 60 oranges = = 120
profit % = 120  100 % = 20%
Incorrect
Let number of iranges = LCM of 2,3,4,5 = 60
cost price of 60 oranges = = 100
sell price of 60 oranges = = 120
profit % = 120  100 % = 20%

Question 16 of 38
16. Question
A book was sold for Rs 27.50 with a profit of 10%. If it were sold for Rs. 25.75, then would have been percentage of profit and loss ?
Correct
SP= 27.50 and profit is 10%
CP =
CP =
This is the Cost price= Rs 25
If it were sold for Rs. 25.75 then SP= 25.75 and CP= 25
Gain= 25.75 25= 0.75
Gain =
Gain = = 3%
Incorrect
SP= 27.50 and profit is 10%
CP =
CP =
This is the Cost price= Rs 25
If it were sold for Rs. 25.75 then SP= 25.75 and CP= 25
Gain= 25.75 25= 0.75
Gain =
Gain = = 3%

Question 17 of 38
17. Question
A Girl buys a Parker pen for Rs. 50 and sells it for Rs. 45. Find her loss.
Correct
Cost price(CP) of a parker pen = Rs. 50 and Selling Price (SP) of a parker pen = Rs. 45.
Here, SP < CP
we have loss = Rs 50  Rs 45 = Rs5
Incorrect
Cost price(CP) of a parker pen = Rs. 50 and Selling Price (SP) of a parker pen = Rs. 45.
Here, SP < CP
we have loss = Rs 50  Rs 45 = Rs5

Question 18 of 38
18. Question
A Woman buys a toy for Rs. 25 and sells it for Rs. 30. Find her gain percent.
Correct
% Gain = = 20 %
Incorrect
% Gain = = 20 %

Question 19 of 38
19. Question
Some articles were bought at 6 for Rs. 5 and sold at 5 for Rs. 6. Gain percent is :
Correct
CP= 6 article in Rs 5= = 0.83
SP= 5 article in Rs 6= = 1.2
Gain= SP CP= 1.2  0.83 = 0.37
= 44%
Incorrect
CP= 6 article in Rs 5= = 0.83
SP= 5 article in Rs 6= = 1.2
Gain= SP CP= 1.2  0.83 = 0.37
= 44%

Question 20 of 38
20. Question
A Girl buys a notebook for Rs. 25 and sells it for Rs. 20. Find her loss per cent.
Correct
==20%
Incorrect
==20%

Question 21 of 38
21. Question
The Profit earned by selling a painting for Rs. 600 is equal to the loss incurred when the same painting is sold for Rs. 400. What should be the sale price of the painting for making 25 per cent profit ?
Correct
Let the cost price be Rs x.
Now, according to the question ,
600x= x400
or,2x = 1000
∴ x = Rs 500.
Again, selling price of the painting for making 25% profit
= Rs 625
Incorrect
Let the cost price be Rs x.
Now, according to the question ,
600x= x400
or,2x = 1000
∴ x = Rs 500.
Again, selling price of the painting for making 25% profit
= Rs 625

Question 22 of 38
22. Question
A reduction of 20% in the price of rice enables a person to buy 2 kg more for Rs 30. Find the reduced and the original price per kg of rice.
Correct
The reduced price of rice == Rs3 per kg
The original price of rice =
Incorrect
The reduced price of rice == Rs3 per kg
The original price of rice =

Question 23 of 38
23. Question
A 10% hike in the price of pulses forces a person to purchase 2kg less for Rs 110 . Find the new and the original prices of the pulses.
Correct
The new price = =
The original price = = Rs5 per kg
Incorrect
The new price = =
The original price = = Rs5 per kg

Question 24 of 38
24. Question
An article when sold at a gain of 5% yields Rs 15 more than when sold at a loss of 5%. What is the C.P..
Correct
Let the CP is x then
= 15
x = Rs150
Incorrect
Let the CP is x then
= 15
x = Rs150

Question 25 of 38
25. Question
In a certain store, the profit is 320% 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 ?
Correct
Let C.P.= Rs. 100. Then, Profit = Rs. 320, S.P. = Rs. 420.
New C.P. = 125% of Rs. 100 = Rs. 125
New S.P. = Rs. 420.
Profit = Rs. (420  125) = Rs. 295.
Required percentage = = 70%
Incorrect
Let C.P.= Rs. 100. Then, Profit = Rs. 320, S.P. = Rs. 420.
New C.P. = 125% of Rs. 100 = Rs. 125
New S.P. = Rs. 420.
Profit = Rs. (420  125) = Rs. 295.
Required percentage = = 70%

Question 26 of 38
26. Question
A man buys a toy for Rs. 25 and sells it for Rs. 30. Find his profit
Correct
Selling price (SP) of a toy = Rs. 30 and Cost Price (CP) of a toy = Rs. 25.
Here, SP > CP
we have profit = Rs. 30  Rs. 25 = Rs. 5.
Incorrect
Selling price (SP) of a toy = Rs. 30 and Cost Price (CP) of a toy = Rs. 25.
Here, SP > CP
we have profit = Rs. 30  Rs. 25 = Rs. 5.

Question 27 of 38
27. Question
If the marked price of an article is Rs. 380 and a discount of 5% is given on it, what is the selling price?
Correct
S.P = 95% of Rs.380 = Rs. = Rs361
Incorrect
S.P = 95% of Rs.380 = Rs. = Rs361

Question 28 of 38
28. Question
A man sells to houses for Rs. 536850 each. On one he gains 5% and on the other he loses 5%. Find his gain or loss percent on the whole transaction.
Correct
in such a problem selling price is immaterial.There is always a loss given by:
Loss % ===0.25%
Incorrect
in such a problem selling price is immaterial.There is always a loss given by:
Loss % ===0.25%

Question 29 of 38
29. Question
If the same price of 10 articles is the same as the cost price of 12 articles. Find gain percent.
Correct
Let C.P of each article be Rs. 1.
C.P of 10 articles = Rs. 10
S.P of the 10 articles = Rs. 12
∴ Gain ==20%
Incorrect
Let C.P of each article be Rs. 1.
C.P of 10 articles = Rs. 10
S.P of the 10 articles = Rs. 12
∴ Gain ==20%

Question 30 of 38
30. Question
A seller buys mangoes at Rs. 2 for 3 mangoes and trade them at a rupee each. To make a profit of Rs. 10, he must sell
Correct
Suppose he sells x mangoes, Then
and S.P = Rs. x
x = 30
Incorrect
Suppose he sells x mangoes, Then
and S.P = Rs. x
x = 30

Question 31 of 38
31. Question
A bicycle is sold at a gain of 15%. If it had been sold for Rs. 20 more, 20% would have been gained. The cost price of the bicycle is:
Correct
120%  115% of x = 20
5% of x = 20.
x = = 400 Rs
Incorrect
120%  115% of x = 20
5% of x = 20.
x = = 400 Rs

Question 32 of 38
32. Question
A corruptible monger progresses to trade his goods at cost price but uses a weight of 960g for 1kg. obtain his gain percent.
Correct
Gain % =
Incorrect
Gain % =

Question 33 of 38
33. Question
A vendor lists his articles 20% above cost price and allows a discount of 10% on cash payment.His gain percent is
Correct
Let C.P. = Rs. 100. Then, marked price = Rs. 120.
∴ S.P. = 90% of Rs. 120 = Rs. 108
∴ Gain % = 8%
Incorrect
Let C.P. = Rs. 100. Then, marked price = Rs. 120.
∴ S.P. = 90% of Rs. 120 = Rs. 108
∴ Gain % = 8%

Question 34 of 38
34. Question
A person incurs a loss of 5% be selling a watch for Rs. 1140. At what price should the watch be sold to earn 5% profit.
Correct
Selling price= 1140
loss=15%
Then CP is 1200 and SP is 1140
then Loss= 5%
price should the watch be sold to earn 5% profit.
Then the SP will Rs 1260
Incorrect
Selling price= 1140
loss=15%
Then CP is 1200 and SP is 1140
then Loss= 5%
price should the watch be sold to earn 5% profit.
Then the SP will Rs 1260

Question 35 of 38
35. Question
Syam buys 10 apples for Rs 1. At what price should he sell a dozen apples if he wishes to make a profit of 25%?
Correct
Incorrect
He cost price of 1 apple = 1/10 th of a dollar or Rs 0.10.
As Syam wishes to make a profit of 25%, his selling price per apple will be 0.10 + 25% of 0.10 = Rs 0.125.
If the selling price of 1 apple is Rs 0.125, then the selling price of a dozen apples = 12 0.125
= Rs 1.5

Question 36 of 38
36. Question
A sells a bicycle to B at a profit of 20%. B Sells it to C at a profit of 25%. If C pays Rs. 225 for it, the cost price of the bicycle for A is :
Correct
Incorrect
125% of 120% of A= 225

Question 37 of 38
37. Question
An article was sold for Rs. 144. If the percentage of profit was numerically equal to the cost price, the cost of the article was :
Correct
Incorrect
Let C.P. = Rs. x, Profit% = x% and S.P. = Rs. 144.

Question 38 of 38
38. Question
A vendor loses the selling price of 4 oranges on selling 36 oranges, His loss percent is :
Correct
Incorrect
(C.P. of 36 mangoes)  (S.P. of 36 mangoes)  Loss =
(S.P. of 4 mangoes)
S.P. of 40 mangoes = C.P. of 36 mangoes
Let C.P. of each mango be Re. 1.
C.P. of 40 mangoes = Rs. 40; S.P. of 40 mangoes = Rs. 36
Loss% =(4/40)x 100 % = 10%.
Profit and Loss Video Lecture
https://www.youtube.com/watch?v=3YPOvb1u71g
0 Comments