All About Profit & Loss

Hello Readers,
As you all know that Profit & Loss is one of the major parts of Quantitative Aptitude of Competition Exams. So, here we are providing you all some important formulas on Profit & Loss. Hope you all like the post..!!

  • The price at which an article is purchased is called its cost price (C.P.)
  • The price at which the article is sold is called its selling price (S.P.)
  • If the cost price (C.P.) of the article is equal to the selling price (S.P.), then there is no loss or gain.
  • If the selling price (S.P.) > cost price (C.P.), then the seller is said to have a profit or gain,
  • Gain/Profit = S.P. – C.P.
  • If the cost price (C.P.) > selling price (S.P.), then the seller is said to have a loss,

                   Loss = C.P. – S.P.

  • Gain% = {Gain*100}/{C.P.}
  • Loss% = {Loss*100}/{C.P.}
  • S.P. = {(100+Gain%/100)x C.P}
  • S.P. = {(100-Loss%/100)xC.P}
  • C.P. = {(100)/(100+Gain%)xS.P}
  • C.P. = {(100)/(100-Loss%)x S.P}
  • If an article is sold at a profit/gain of 30%, then S.P. = 130% of the C.P.
  • If an article is sold at a loss of 20%, then S.P. = 80% of the C.P.
  • When a person sells two similar items, one at a gain of say x%, and the other at a loss of x%, then in this transaction the seller always incurs a loss given by: = {x^2/100}%
  • A single discount equivalent to discount series of x% and y% given by the seller is equal to

                                        (x +y – xy/100)%

  • If a trader professes to sell his goods at cost price, but uses false weights, then 
           Gain% = {(Error)/(True value – Error)x 100] %



1. A shopkeeper offers a discount of 10% on his articles. The marked price of the article is Rs. 450. The selling price should be?
A.  Rs. 405
B.  Rs. 400
C.  Rs. 395
D.  Rs. 410
2. How much percent more than the cost price should a shopkeeper mark his goods so that after allowing a discount of 25% on the marked price, he gains 20%?
A.  60%
B.  55%
C.  70%
D.  50%
3. A dishonest dealer professes to sell his goods at the cost price but uses a false weight of 850 g instead of 1 kg. His gain percent is
A.  71 11/17%
B.  11 11/17%
C.  17 12/17%
D.  17 11/17%
4. A retailer purchased radiosets at the rate of Rs. 400 each from a wholesaler. He raised the price by 30% and then allowed a discount of 8% on each set. His profit will be:
A.  19%
B.  78.4%
C.  22%
D.  19.6%
5. An article is sold at 10% loss. If the selling price is Rs. 40 more, there will be a gain of 15%. The cost price of the article is:
A.  Rs. 140
B.  Rs. 120
C.  Rs. 175
D.  Rs. 160
6. The marked price of a table is Rs. 800. A retailer bought it after two successive discounts of 10% and 15%. He spent Rs. 13 on transportation and sold it for Rs. 875. His profit was:
A.  40%
B.  37%
C.  28%
D.  25%
7. A person sells 320 mangoes at the cost price of 400 mangoes. What is his profit percent?
A.  10%
B.  15%
C.  20%
D.  25%
8. By selling 33 metres of cloth, a person gains the cost of 11 metres. Find his gain%:
A. 33 1/3%
B.  33 1/2%
C.  33%
D.  34 1/3%
9. A shopkeeper earns a profit of 15% on selling a book at 10% discount on the printed price. The ratio of the cost price and the printed price is:
A.  18 : 23
B.  16 : 21
C.  18 : 21
D.  17 : 23
10. If a selling price of Rs. 24 results in 20% discount on the list price of an article, the selling price that would result in 30% discount on the list price is:
A.  Rs. 17
B.  Rs. 23
C.  Rs. 18
D.  Rs. 21


Answers:

1(A)Explanation:
 Selling Price = (100-10)/10 x 450= 90/100 x450
 =Rs. 405
2(A)Explanation:
Let cost price of goods be Rs 100.
Gain= 20%
Therefore,selling price= Rs 120
Discount= 25%
Marked Price = (100/100-25) x120
 = Rs. 160
i.e.60% more
3(D)Explanation:
If a trader professes to sell his goods at cost price, but uses false weights, then
Gain% = {(Error)/(True value – Error)x 100] %
In th given question, Error= 1000-850=150
Thus, Gain% = {(150)/(1000- 150)x 100] %
= 17 11/17%
4(D)Explanation:
Cost price = Rs. 400
Marked Price = 100+30/100 x 400 = 130/100 x400
 = Rs.520
Selling Price = 100-8/100 x520 = 92/100 x 520
Rs. 478.40
Profit percent = 478.40-400/400 x100
= 19.6%
5(D)Explanation:
Let the cost price be Rs.x.
Selling Price at 10% loss = 90x/100
Selling price at 15% gain = 115x/100
Thus, according to the problem,
115x/100-90x/100 = 40
x = Rs.160
6(A)Explanation:
Marked price = Rs.800.
Price after discount of 10% and 15% = 800 x (100-10)/100 x (100-15)/100
= Rs. 612.
Total Cost price = 612 + 13 = Rs. 625
Profit percent = (875-625)/625 x 100
= 40 %
7(D)Explanation:
Let cost price of 400 mangoes = Rs. 400
Thus,selling price of 320 mangoes = Rs. 400
Cost price of 320 mangoes = Rs. 320
Profit percent = (400-320)/320 x 100
= 25 %
8(A)Explanation:
Let cost per meter be Rs.y
Cost price of 33 m of cloth = 33y
Gain = 11x
profit percent = 11y/33y x 100 = 100/3
= 33 1/3%
9(A)Explanation:
Let the Cost price be Rs. 100
Selling price Rs. 115
Printed price = 100/(100-10) x 115 = 11500/90
Required ratio = Cost price/printed price = 100 x 90/11500
 = 18 /23
10(D)Explanation:
Selling price = Rs.24
Thus, list price = 100/(100-20) x 24 = Rs. 30
For 30% discount,
Selling price = (100-30)/100 = Rs. 21

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151 Comments

  1. 10-d
    9-a
    8-a
    7-d
    6-a
    5-d
    4-4
    3-d
    2-a
    1-a
    chak diye fattteee inkiiii bhiii wow :P:PD
    thanks mam 🙂

  2. this is sscadda , mey day mey day intruder from BA , leave immediately or bear consequences

  3. 6th ka kyu nahi a raha 🙁 succe . dis. 12 hai plus 13 hua toh 158 ban raha hai 875-158=717 so then O.o i cant amz

  4. tell me that 7th one ….320 mangoes and 400 mangoes , let cost of one be x so 400X-320X=80X now 80X/400X multiply 100 so get 20 why its 25 can elaborate

  5. Nthng yar,tha ek jaydeep naam ka ladka…uske.msgs padh lo u will.get to know…

  6. Nothing I just cmnted shayar,nd he was cmnted smthing ajeeb sa….ohk leave …he was already blocked by Shruti mam.earlier…

  7. How much percent more than the cost price should a shopkeeper mark his goods so that after allowing a discount of 25% on the marked price, he gains 20%?

  8. Let cost price 100
    Gain needed 20%
    Therefore selling price 120

    Let the marked price be x.
    Then, discount = 25% of x

    = (x × 25/100)
    = x/4

    Therefore, selling price = (Marked Price) – (discount)
    = {x – (x/4)
    = 3x/4
    Therefore, 3x/4 = 120
    ⇔ x = {120 × (4/3)} = 160
    Therefore, marked price =160.
    Hence, the marked price is 60% above cost price.

  9. @SAM CAT – All the very best for the NICL assistant exam 🙂
    Its there on 26th na ?
    So Do ur best. Hope so tmhara revision ho gya hoga ..
    And keep up the spirit as u r having 🙂
    take care..
    see you soon 🙂

  10. "SAM CAT". copy cat… mera helllooooozzz copy kiya bs thodha long kr diya…. :))
    I am fine and just ok. and happy is happy, u tell how are u?
    prep ho gyi?

  11. Or mai.v changing,,tuwada b paper h na,,GHz or mera pitampura…all the best..sbi associates clerk ka kya raha

  12. just vaise hi preparation ke time ye din to aate hi hai kabhi confidence loose to kabhi up hota rehta hai

  13. Yes,,u r correct,,prep tym hota hi aisa hai,,bcoz hm log apne aap ko or apne results ko doosro se compare.kr lete h ,k uska hua or mera nahi…Leave all,,start.with the new energy..all.the best

  14. Acha…krti rahungi cmnt,,mere.se kaun motivate hota hai,SB samajhdar ha khud

  15. I wish the same..aameen!!u will also….all the best…now I have to go…its dinner tym…

  16. Acha ji. that's good ji.
    Hanji sada vi haiga bt me tuhanu dasiya si na ki sanu vaishno devi jana haiga , te kal vaishno devi ja riha h, ni de pavanga 26th da exam, il be back by tues or wed. u forgot , I told u last week.. bhulakrrr…
    Bt fir bi thanku ji, yeh wala all the best 3rd may wale exam ke liye save krke rakhta hu OICL AO ke liye….
    And by the way u said not to talk in pinjabi or any other languages except eng or hindi, jb humne start kri thi baat krni, now tussi khud hi start ho gye ji :))
    are han, sbi associate clerk ka kya rha tmhara.. I didn't give it 🙁

  17. Acha ji tussi ja rhe ho, tussi mat jao.. :))
    Ok have ur dinner properly . il have it later on 🙂
    see you soon ..
    take care "SAM CAT".

  18. Oyeeee 3 ko mera b h… faridabad,,OILCOILC…..me too did not give it yar…just itni hi aati h Punjabi….tu to gya ab..blockkkkk….acha ek cheez bhool gya na…mata k ja k kya mangna…mere liye

  19. Close your eyes,

    Concentrate your mind &

    Pray to god about the things

    That you want most.

    GOD must fulfill your prayer…

    Have a nice sleep…

    Good Night—

  20. Sachi me…. are wah ji wah :)) ohhh…. wah ji wah to chaap wala hai delhi ka,bt esse badhiya a gye hai and quality itni achi nhi rhi eski itni achi :))
    acha bs itttooooo si ati hai …… hmmmmmmmmmm.:))))
    block ho jaunga me…. waise bi jb me wapis aunga Vaishno devi se, il be having 3-4 days for revision and prep for OICL, to time nhi hai tmahre saath faltu ki chatting krne ka :)))))) hahahahaha
    ab to ho gyi tum bi block :))
    hey I didn't forget it seriously.. sachi me.. I remember things usually . waise bhulakr hu lekin golden baatein yaad rakhta hu 🙂
    and these golden words ar baatein ek hi bar boli jati hai .baar baar nhi ji….
    obviously tmhare liye pray krunga to prashad bi to leke aunga :))
    sachi me launga, much me…. ek to meri hindi ka kya hoga…I am nt joking ar tmahre liye specially bt bhejunga kaise tmhare liye.. courier se????….

  21. OMG.. fir se hum dono ka opposite end me, nhi mil payenge fir se….
    oh oh.. :))
    mera Ghaziabad me ar tmhara Faridabad me… ache se tyari krni hai wapis ake 3-4 days honge.. thodha help kr dena ap meri kuch Imp bta dena "SAM CAT"….. bcs office bi jana padhega Wednesday se, agr Tuesday ko wapis aunga…. so less time me max revision krna hai…. :))
    have to manage…..
    take care.. see u

  22. Sir plz provide a pdf of 200 questions possible questions on d profit and loss…plz sor its my humbel request….

  23. Mem plzz provide 200 to 300 possible questions pdf based pn profit and loss its my humble request mem plzz

  24. Chalo, I think u shd study now properly and do ur revision without my distrbnce and I shd also go and pack up my bag for tomorrow as have to leave in the eve :))
    And I think u vr saying me that u wanna ask something for NICL as we vr talking last week.. hope so doubt clear ho gya hoga bt agr fir bi kuch puchna ho to puch lena :), il reply to u even I am out of station 🙂
    And Good luck 🙂
    Good night.. shabha khaeir, shubh ratri and apko mera salaam 🙂
    God bless you 🙂
    see you soon 🙂
    take care..

  25. "SAM CAT"……. u r ok na and everything ?
    "EARTHQUAKE"… phli baar mene observe kiya apni life me for 2 times first dfor 20 seconds and then for 10 seconds.. omg, it was like I am swinging on a ride, ghar ke hall pe khadha hoke it was like whole house was swinging …
    tum thikh ho na and everyone?
    u had observe the earthquake due to secondary waves????
    reply soon..
    see you soon..

  26. M.fyn deep..thanx ..hope.u r also.fyn…..it was a.scary moment ..too.much scary

  27. Chalo good hai.. Baba ji da lakh lakh dhanyawaad 🙂
    I am also fine "SAM CAt"…..
    you knw what for the first time in my life, I observed the whole house swinging .. it was like I am on a apooghar ride :))
    oh.. u got scared.. How my CAT can get scared?
    itna train kiya tumko kisliye….. yup it was something different ……. .. sbko ek time ke lye dar lga tha ar me to multistory me rhta hai tu its more disturbing but everything went ok, no probs and ok/….
    u had ur lunch?
    take care…. and study well..
    have a great day,
    see you…

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  29. How are you?
    I came back from Vaishno Devi with such a nice trip and memories of it 🙂
    Tumhara exam kaisa gya NICL assistant ka?
    ar u checkd the result of NICL AO?

  30. mujhe pta hai miss to kiya hoga itne dino mujhe puccaaaa … hahahahahhahahh bt its ok ab to wapis a gya me tmhe tang krne ke liye 🙂
    just joking.. hope u r ok and everything is ok..
    jb free hoge tb reply krna ar baat krenge, il wait for u and OICL ke liye 3 days left.. so prep well…..

  31. SAM – it was really nice and awesome..
    bht travel kiya. weather and climate was good :))
    And u knw we went after 3 years, so couple of good experiences and memories this time, we have gathered..
    Yeh lo tmhare liye Mom ne parshad bnaya hai – "halwa"… yeh lo khao …..

  32. And how are u?
    exam kaisa hua NICL assitnt ka?
    NICL AO ka result check kiya?
    OICL ki tyari kaise chal rhi hai?

  33. Good,,,thanx to ur mom nd u….nicl nt cleared yar.wat abt Ur result??fyn,hope u also fine..OICL me kuch bhi Maya nahi kar rahi hu just revising wat I already prepared for nicl… Nd assistant xam.was avg did 149

  34. Its ok "SAM CAT".. Welcome …
    Hmmm… its ok, I also didn't clear it.. Actually u knw what I didn't see the no. of vacancies for Generalist (Gen), its only arnd 100) and this time many people have given this exam in 2 dates. And I was thinking that il clear it because I attempted 115/140 with almost accuracy. But I don't knw may be cut off is high/…..

  35. Yup that's good. I am also f9.
    Yup, I am also now trying to read something something .. not really getting what to do in these 3 days. bt will try to cover capsule and some practice on Math, bs yeh hi nhi ho pati….
    Hmmm,.. its ok nice attempts.. All the very best for the results 🙂

  36. Acha Il go to office on Monday, so while gng on the way or coming back from office, you tell me the suitable time, il give u the Vaishno devi parshad.. is it ok?

  37. @SAM – Sorry if I hurted u somewhere for something.
    But just called you yesterday on SSC Adda to say "All the very best " for OICL AO exam. Hope tmhari prep and revision ho gyi ho. And give it ur best shot 🙂
    Take care.

  38. For 8th qn the answer is 50%
    sp=cp+gain
    sp of 33=cp of 33+sp of 11
    sp of 22=cp of 33
    gain %=(sp/cp-1)*100
    =(33/22-1)*100
    =(3/2-1)*100
    =50%

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