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Profit And Loss Problems

In competitive examinations like IBPS/SSC/XAT/CAT/PO arithmetic section is always included and includes all the mathematical problems. One of important topics to prepare for Math section is Profit And Loss Problems. Problems on Profit And Loss ask in all competitive examination but not every contender knows that How to Solve Profit And Loss Problems Quickly. Here on this page we are providing some Profit And Loss Problems with Solutions. With the help of these Word Problems On Profit And Loss With Answers and Shortcuts candidates will get to know the right the way to save their time and effort while appearing in the examination and facing the arithmetic section.

Today every second candidates is preparing for competitive examination and most popular examination are IBPS/SSC/XAT/CAT/PO. In all these examination the Profit And Loss Math Problems is a common topic and the questions in all these examination are also similar. Keeping all the points regarding the examination in mind we the team members of recruitmentresult.com.com are providing Profit And Loss Problems with Solutions for Bank Exams / Profit And Loss Problems for Bank Po etc.

Before solving and understand the Profit and Loss Problem one should know about the Profit and Loss formulas and also that How To Solve Profit And Loss Problems Easily, let’s take a look…

Profit And Loss Problems

PROFIT AND LOSS FORMULAS

 Cost Price The price, at which an article is purchased, is called its cost price, abbreviated as C.P. Selling Price The price, at which an article is sold, is called its selling prices, abbreviated as S.P. Profit or Gain If S.P. is greater than C.P., the seller is said to have a profit or gain. Loss If S.P. is less than C.P., the seller is said to have incurred a loss.

Check Now: Profit And Loss Questions And Answers

Important Profit And Loss Shortcuts And Formulae

Gain = (S.P.) – (C.P.)

Loss = (C.P.) – (S.P.)

Loss or gain is always reckoned on C.P.

Gain Percentage: (Gain %)

Gain % = Gain x 100 / C.P.

Loss Percentage: (Loss %)

Loss % = Loss x 100 / C.P.

Selling Price: (S.P)

SP =  ((100 + Gain %) / 100) x C.P

Selling Price: (S.P)

SP = ((100 – Loss %)/ 100)x C.P.

Cost Price: (C.P.)

C.P. = 100/(100 + Gain %) x S.P.

Cost Price: (C.P.)

C.P. = 100/ (100 – Loss %) x S.P.

1. If an article is sold at a gain of say 35%, then S.P. = 135% of C.P.
2. If an article is sold at a loss of say, 35% then S.P. = 65% of C.P.
3. When a person sells two similar items, one at a gain of say x%, and the other at a loss of x%, then the seller always incurs a loss given by:

Loss % = (Common Loss and Gain %        / 10)2   = (x/10)2       .

If a trader professes to sell his goods at cost price, but uses false weights, then

Gain % = (Error/ ((True Value) – (Error))) x 100 %.

Check Here: Profit and Loss Problems in Word and Excel

Profit And Loss Problems

Question 1: The cost price of 20 articles is the same as the selling price of x articles. If the profit is 25%, then the value of x is:

1. 15
2. 16
3. 18
4. 25

Explanation:

Let C.P. of each article be Re. 1 C.P. of x articles = Rs. x.

S.P. of x articles = Rs.20

Profit = Rs. (20 – x).

(20 – x / x * 100) = 25

2000 – 100x = 25x

125x = 2000

X=2000/125

x = 16.

Question 2: 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?

1. 30%
2. 70%
3. 100%
4. 250%

Explanation:

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.

Question 3: A vendor bought toffees at 6 for a rupee. How many for a rupee must he sell to gain 20%?

1. 3
2. 4
3. 5
4. 6

Explanation:

C.P. of 6 toffees = Re. 1

S.P. of 6 toffees = 120% of Re. 1 = Rs. 6/5

For Rs.          6/5, toffees sold = 6.

For Re. 1, toffees sold = 6 x         (5/6)  = 5.

Question 4: A shopkeeper sells some articles at the profit of 25% on the original price. What is the exact amount of profit? To find the answer, which of the following information given in Statements I and II is/are necessary?

1. Sale price of the article
2. Number of articles sold
3. Only I is necessary
4. Only II is necessary
5. Either I or II is necessary
6. Both I and II are necessary
7. None of these

Explanation:

Gain = 25% of C.P.

In order to find gain, we must know the sale price of each article and the number of articles sold.

Question 5: A shopkeeper sells some toys at Rs. 250 each. What percent profit does he make? To find the answer, which of the following information given in Statements I and II is/are necessary?

1. Number of toys sold.
2. Cost price of each toy.
3. Only I is necessary
4. Only II is necessary
5. Both I and II are necessary
6. Either I or II ins necessary
7. None of these

Explanation:

S.P. = Rs. 250 each.

To find gain percent, we must know the C.P. of each.