Profit and Loss Questions Answers

1. A man buys an article for Rs. 27.50 and sells it for Rs 28.60. Find his gain percent
 1%
 2%
 3%
 4%
Answer And Explanation
Answer: Option D
Explanation:
So we have C.P. = 27.50
S.P. = 28.60
Gain = 28.60  27.50 = Rs. 1.10
\begin{aligned}
Gain\% = \left( \frac{Gain}{Cost} * 100 \right)\% \\
= \left( \frac{1.10}{27.50} * 100 \right)\% = 4\%
\end{aligned} 
2. A TV is purchased at Rs. 5000 and sold at Rs. 4000, find the lost percent.
 10%
 20%
 25%
 28%
Answer And Explanation
Answer: Option B
Explanation:
We know, C.P. = 5000
S.P. = 4000
Loss = 5000  4000 = 1000
\begin{aligned}
Loss\% = \left( \frac{Loss}{Cost} * 100 \right)\% \\
= \left( \frac{1000}{5000} * 100 \right)\% = 20\%
\end{aligned} 
3. In terms of percentage profit, which among following the best transaction.
 C.P. 36, Profit 17
 C.P. 50, Profit 24
 C.P. 40, Profit 19
 C.P. 60, Profit 29
Answer And Explanation
Answer: Option D
Explanation:
Hint: Calculate profit percent as
Profit% = (profit/cost) * 100 
4. 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.
 Rs.1200
 Rs.1230
 Rs.1260
 Rs.1290
Answer And Explanation
Answer: Option C
Explanation:
Let the new S.P. be x, then.
(100  loss%):(1st S.P.) = (100 + gain%):(2nd S.P.)
\begin{aligned}
=>\left( \frac{95}{1140} = \frac{105}{x} \right) \\
=> x = 1260
\end{aligned} 
5. 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 ?
 2% Profit
 3% Profit
 2% Loss
 3% Loss
Answer And Explanation
Answer: Option B
Explanation:
Please remember
\begin{aligned}
S.P. = \left( \frac{100+gain\%}{100} * C.P \right)\\
\text{So, C.P. = }\left( \frac{100}{110} * 25.75 \right)\\
\text{When S.P. = 25.75 then } \\
Profit = 25.75  25 = Re. 0.75 \\
Profit\% = \frac{0.75}{25} * 100 = 3\%
\end{aligned}

6. Alfred buys an old scooter for Rs. 4700 and spends Rs. 800 on its repairs. If he sells the scooter for Rs. 5800, his gain percent is
 \begin{aligned} \frac{6}{19}\% \end{aligned}
 \begin{aligned} \frac{6}{17}\% \end{aligned}
 \begin{aligned} 5\frac{5}{11}\% \end{aligned}
 \begin{aligned} 3\frac{5}{11}\% \end{aligned}
Answer And Explanation
Answer: Option C
Explanation:
Whenever we get this type of question, we should have formula in mind that,
Gain% = (gain/cost)*100
Cost = 4700 + 800 = Rs. 5500
S.P. = Rs. 5800
Profit = 5800  5500 = 300
\begin{aligned}
Gain\% = \frac{300}{5500}*100 \\
= 5\frac{5}{11}\%
\end{aligned}

7. If the cost price is 25% of selling price. Then what is the profit percent.
 150%
 200%
 300%
 350%
Answer And Explanation
Answer: Option C
Explanation:
Let the S.P = 100
then C.P. = 25
Profit = 75
Profit% = 75/25 * 100 = 3005

Parminder Singh 4 years ago
Very useful for all govt job exam.
Thank you very much Sir 
nitin;))always blessed,,,,,, 4 years ago
kkk

Ratneshwar Prasad Sinha 4 years ago
i like it

Gourav Goyal 5 years ago
sir plz provide different sums plz dont copy rs agarwal

Mayank Gupt 5 years ago
real shortcuts of profit n loss www.tinyurl.com/guptpnl

Sumanth Kumar 6 years ago
tanq sir nic sums

NNFK 6 years ago
COPIED FROM RS AGGARWAL CHEATER :/

asawari 7 years ago
sums are good for practice