- Quiz: Profit and Loss Set 1
- Quiz: Profit and Loss Set 2
- Quiz: Profit and Loss Set 3
- Quiz: Profit and Loss Set 4
- Quiz: Profit and Loss Set 5
- Quiz: Profit and Loss Set 6
- Quiz: Profit and Loss Set 7
- Quiz: Profit and Loss Set 8
- Quiz: Profit and Loss Set 9
- Quiz: Profit and Loss Set 10
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- Quiz: Profit and Loss Set 12
- Quiz: Profit and Loss Set 13
- Quiz: Profit and Loss Set 14
- Quiz: Profit and Loss Set 15
- Quiz: Profit and Loss Set 16
- Quiz: Profit and Loss Set 17
- Quiz: Profit and Loss Set 18
- Quiz: Profit and Loss Set 19
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- Quiz: Profit and Loss Set 21
## Profit and Loss: Formulas, Shortcuts and Tricks

Cost Price is the price at which an article is purchased, abbreviatedCost Price

as C.P.

Selling Price is the price at which an article is sold, abbreviatedSelling Price

asS.P.

Profit

If the Selling Price exceeds the Cost Price, then there is Profit.Profit

or gain= SP – CP

Profit% = Profit/(C P)×100

S P= (100+gain % )/100 ×C P

C P= 100/(100+gain %)×S P

LossIf the overall Cost Price exceeds the selling price of the buyer then he is said to have incurred

loss.

Loss= C P – S P

Loss% = LOSS/(C P)×100

S P= (100-loss %)/100×C P

C P= 100/(100-loss %)×S P

Q.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:

A. 15

B. 16

C. 18

D. 25

**Answer: Option B**

Q. 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?

A. 30%

B. 70%

C. 100%

D. 250%

**Answer: Option B**

**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.

Required percentage =(295/420 * 100)%=(1475/21)% =70% (approximately)

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

A. 3

B. 4

C. 5

D. 6

**Answer: Option C**

Q.The percentage profit earned by selling an article for Rs. 1920 is equal to the percentage loss incurred by selling the same article for Rs. 1280. At what price should the article be sold to make 25% profit?

A. Rs. 2000

B. Rs. 2200

C. Rs. 2400

D. Data inadequate

**Answer: Option A**

Q.A shopkeeper expects a gain of 22.5% on his cost price. If in a week, his sale was of Rs. 392, what was his profit?

A. Rs. 18.20

B. Rs. 70

C. Rs. 72

D. Rs. 88.25

**Answer: Option C**

Q. A man buys a cycle for Rs. 1400 and sells it at a loss of 15%. What is the selling price of the cycle?

A. Rs. 1090

B. Rs. 1160

C. Rs. 1190

D. Rs. 1202

**Answer: Option C**