Whenever some article purchase from the market there is some commercial term involved. Sometimes it may be profit,it may be loss and in another case there is no loss and no profit. When goods purchase higher then their cost value is is called **Profit.** When goods sale less than their cost value it is called **loss**. This concept is very important for competitive exams point of view. In every exam questions ask from this topic.

**Important terms**

**Cost ****Price(CP)**: The purchase at which an article is purchased by the seller.

**Selling Price(SP)**: The price at which an article is sold.

**Profit or Gain (P)**: If the difference between Selling Price and Cost price is positive then the amount is called Profit.

**Loss**: If the difference between Selling Price and Cost price is negative then the amou

Term | Formula |
---|---|

Profit (Percentage)% | Profit *100 Cost Price |

Loss (Percentage)% | Loss*100 Cost Price (C.P) |

Selling Price (S.P) | 100+Profit(%)_{*}CP100 |

Selling Price (S.P) | 100–Loss%_{*C.}P100 |

Cost Price (C.P) | 100_{*S.P}(100+(Profit)% |

(C.P) Cost Price | 100_{*}S.P100-Loss(%) |

Single equivalent of two successive discount | Add-Multiply 100 |

1. The cost Price of the goods for a shopkeeper Rohit. He Mark them at 20% higher than the cost price. Finally he sold the goods at 30% discount. Did he earn a profit or in incur a loss? How much?

- 5%Profit
- 5.5%Profit
- 10%Profit
- 16% Profit

Answer:D.16% [Complete calculation =LetCP=rs100 Marked Price=20% higherthan C.P ,Mp=120 Discount= 30% on market Price, S.P= (100-30)% on M.P, S.P=/70/100*120= rs.84 Loss%= 100-84/100*100=16%]

2. One shopkeeper was offering two successive discount of 15% and 10% on an item while the second one is offering flat 25% discount on the same item. From which shopkeeper should I buy the item?

- First shopkeeper
- Second Shopkeeper
- Any of them; both are same
- Data insufficient

Answer:B.Second Shopkeeper, Complete calculation: [Use formula number 7 Add=15+10=25 Muptiplay\100,15*10/100=1.5 Single Equivalent=25-1.5=23.5%first buyer is 23.5%, second shopkeeper offering 25% which makes the item more cheaper for the buyer]

3. An umbrella was sold at a profit of 20%. What is the selling price of the umbrella if the shoppkeeper procured at it at a cost of rupees 180?

- 210
- 216
- 230
- 236

Answer:B.216 [Complete calculation=put value in the formula =S.P=120/100*180=12*18 =216, selling price=216]

4. A man purchase two pens was for rs.740. he sale one at 12% profit and the other is at 8% loss. Then he neither gain nor loss find the cost price of each pen.?

- 324,416
- 296,444
- 288,452
- 365,375

Answer:D.8000, [Complete calculation=c.p of two pens= 740,first pen assume x, second pen assume y,ratio= 12%ofX:8%of12ratio=2:3,firstpen=2/3*740=296 and second pen=3/5*740=444]

5. Amit sold his old TV and and earned profit of 10%. If he could have manage to sale it for 81 so more than his profit would have been 37%. Find the price at Which he bought the TV?

- 30000
- 40000
- 41000
- 50000

Answer:A.30000 [complete calculation: first profit=10% is Amit sale TV for 8100 then,profit=37%,=S.P1+8100=S.P.2,=110%ofC.P+8100=(137)%ofC.P.,27%of C.P=8100,C.P=8100*100/27=30000]

6. Selling selling price and cost price of an article are in the ratio of 7:5. What will be the profit/ loss percentage?

- 40% profit
- 28.5% profit
- 20% loss
- 14.28% loss

Answer: A.40% profit [complete calculation=SP:CP,7:5=2/5*100 =40% profit]

7. Selling price and cost price of an article are in the ratio of 4:5. What will be the profit/ loss percentage?

- 25 %profit
- 28.5% profit
- 20% loss
- 14.28% loss

Answer:C.20%Loss [complete calculation: SP:CP,4:5=1/5*100=20%loss]

8. By Selling 60m of cloth, I lose the selling price of 30 m. Find loss percentage?

- 33.3%
- 16.66%
- 40%
- 50%

Answer:A.33.33% [complete calculation: 60SP=60CP-30SP, 90SP=60CP, 3/2:CP/SP 1/3*100=33.33%]

9. The the profit on 40kg of Apple of equal to the cost price of 25 kg of Apples. Find the profit percentage of 1 kg of Apple?

- 65
- 62.5
- 67.5
- 58.5

Answer:B.62.5 [Complete calculation: 40SP=40CP+25CP, 40SP=65CP, 8/13:CP/SP 5/13*100=62.5]

10. If a man estimate his loss as 20% of the selling price, find the loss percentage?

- 20%
- 25%
- 13.33%
- 16.66%

Answer:D.16.66 [complete calculation: 20%=1/5 CP:SP 6:5=1/6*100=16.66%]

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Average Questions Short Tricks in Hindi [PDF Download]

## Conclusion

At last we can say that profit and loss is very important concept for competitive exams as well as daily routine works. It’s apply to all business main focus is to increase more profit. Keep practice and for more updates and information visit our website Examtyari.xyz . Keep learning and boost your preparation at High level.