PROFIT & LOSS

Basic Definitions and Formulas

 Cost price (C.P.): This is the price at which an article is purchased.

 Selling price (S.P.): This is the price at which an article is sold.
 Profit or Gain: If the selling price is more than the cost price, the difference between them is the
profit incurred.

Formula: Profit or Gain = S.P. – C.P.

 Loss: If the selling price is less than the cost price, the difference between them is the loss
incurred.

Formula: Loss = Cost price (C.P.) – Selling Price (S.P.)

 Profit or Loss is always calculated on the cost price.

 Marked price: This is the price marked as the selling price on an article, also known as the listed
price.
 Discount or Rebate: This is the reduction in price offered on the marked or listed price.
Below is the list of some basic formulas used in solving questions on profit and loss:

 Gain % = (Gain / CP) * 100

 Loss % = (Loss / CP) * 100
 SP = [(100 + Gain%) / 100] * CP
 SP = [(100 – Loss %) / 100] *CP
The above two formulas can be stated as,

If an article is sold at a gain of 10%, then SP = 110% of CP.

If an article is sold at a loss of 10%, then SP = 90% of CP.

 CP = [100 / (100 + Gain%)] * SP

 CP = [100 / (100 – Loss%)] * SP
 SET 1

1. An article is purchased for Rs. 450 and sold for Rs. 500. Find the gain percent?
2. A man sold a fan for Rs. 465. Find the cost price if he incurred a loss of 7%
3. In a transaction, the profit percentage is 80% of the cost. If the cost further increases by 20%
but the selling price remains the same, how much is the decrease in profit percentage?
4. A man bought some toys at the rate of 10 for Rs. 40 and sold them at 8 for Rs. 35. Find his
gain or loss percent.
5. The cost price of 10 pens is the same as the selling price of n pens. If there is a loss of 40%,
approximately what is the value of n?
6. Given: Cost price - Rs. 150; Gain - 32%;
Find: Selling Price.

a. Rs. 182
b. Rs. 195
c. Rs. 198
d. Rs. 214
7. If the loss incurred in a transaction is 3/5th of the selling price, find the loss percent.

A. 37
B. 37.5
C. 37.75
D. None
8. After applying successive discounts of 10% and 5% on an article, it was sold at Rs. 513. Find
the marked price of the article.

A. Rs. 590
B. Rs. 600
C. Rs. 603.5
D. None
9. A sells a set of books to B for Rs. 300 at a profit of 25%. B sells it to C at a loss of 10%.

i) What was the original price paid by A?

ii) What was the price paid by C to B?

A. 240, 260
B. 250, 270
C. 250, 260
D. 240, 270
10. 240A real estate agent selld two sites for Rs. 18000 each. On one he gains 25% and on other
hre loses 25 %. What is his loss or gain percent?
A. 6.25% gain
B. 6.25% loss
C. No profit no loss
D. 4 % loss
E. 4% profit.

11. By selling a water heater for Rs. 3200, the shopkeeper incurs a loss of 20%. If he wants to
earn a profit of 20%, at what price should he sell the water heater?

a. Rs. 4000
b. Rs. 4200
c. Rs. 4800
d. Rs. 5760
12. A hawker sells 100 candies for 5 Rupees. If he manages to makes a profit of 20%, how many
candies did he buy for a rupee?

a. 16
b. 24
c. 36
d. 40
13. Jayshree wants to earn 15% profit by selling rice. She buys two varieties of rice.
Variety 1: 130 kg at Rs. 25/ Kg;
Variety 2: 175 kg at Rs. 30/ kg.
At what price per kg should she sell the rice mix per kg?

14. Rajesh earns a profit of 30% in one deal but incurs a loss of 30% in the second while selling 2
cycles for Rs. 4000 each. Find his total profit or loss in both the deals together?

a. Profit = 18%
b. Loss = 18%
c. Profit = 9%
d. Loss = 9%
15. Rahim sold a computer to Salim at a profit of 25%. Salim incurred a loss of 15% when he sold
the same computer to Shaunak. Rahim bought this computer for Rs. 50,000/-. At what price
did Shaunak buy it?

a. Rs. 62,500
b. Rs. 63,500
c. Rs. 63,750
d. Rs. 75,000/-

16. 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:
 4
A. 4 %
7

5
B. 5 %
11

C. 10%

D. 12%

17. 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

18. If selling price is doubled, the profit triples. Find the profit percent.

A6 2
. 6 3

B
100
.

1
C 10
. 5 3

D
120
.

19. 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%

20. 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

21. 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

22. 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
23. 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

24. Sam purchased 20 dozens of toys at the rate of Rs. 375 per dozen. He sold each one of them
at the rate of Rs. 33. What was his percentage profit?
A. 3.5

B. 4.5

C. 5.6

D. 6.5

25. Some articles were bought at 6 articles for Rs. 5 and sold at 5 articles for Rs. 6. Gain percent
is:
A. 30%

1
B. 33 %
3

C. 35%

D. 44%

26. On selling 17 balls at Rs. 720, there is a loss equal to the cost price of 5 balls. The cost price
of a ball is:
A. Rs. 45

B. Rs. 50

C. Rs. 55

D. Rs. 60
27. When a plot is sold for Rs. 18,700, the owner loses 15%. At what price must that plot be sold
in order to gain 15%?
A. Rs. 21,000

B. Rs. 22,500

C. Rs. 25,300

D. Rs. 25,800

28. 100 oranges are bought at the rate of Rs. 350 and sold at the rate of Rs. 48 per dozen. The
percentage of profit or loss is:

A 1 2%
. 4 7gain

B
15% gain
.

C 1 2%
. 4 7loss

D
15 % loss
.

29. A shopkeeper sells one transistor for Rs. 840 at a gain of 20% and another for Rs. 960 at a
loss of 4%. His total gain or loss percent is:
15
A. 5 % loss
17

15
B. 5 % gain
17

2
C. 6 % gain
3
 D. None of these

30. A trader mixes 26 kg of rice at Rs. 20 per kg with 30 kg of rice of other variety at Rs. 36 per kg
and sells the mixture at Rs. 30 per kg. His profit percent is:
A. No profit, no loss

B. 5%

C. 8%

D. 10%

E. None of these

SET 2

1. I sold two hens for Rs. 105 each . On one I lost 25% . On the other I gained 50% . What is the gain
or loss on my total outlay ?

2. Sudhira sold a watch at a profit of 20%. Had she bought it at 10%less and sold it at Rs 30 less, she
would still have gained 20% .Find the cost price of the watch.

3. I bought eggs at the rate of 5 for Rs 7 and sold them at the rate of 7 for Rs. 10 and made Rs.2450
in the bargain. How many eggs did I deal in ?

4. A shop's prices are 25% above cost price, but it allows its customers 12% commission on the
amounts of their bills. What is the profit per cent made ?

5. Suruchi sold two pens at Rs.20 each . Find her common loss or gain % if on pen she gains 10%
and on the other suffers a loss of 10%?.

6. A dishonest retailer professes to lose 4% on tea but uses a false weight equal to 9000 g instead of
1Kg. Find his loss or gain %?

7. A man buys oranges at a certain price per dozen and sells them at eight times that price per
hundred . What is his gain or loss % ?
8. I sold a book at a profit of 12%. Had I sold it for 18 more, 18% would have been gained . find the
cost price?

9. The cost price of 24 articles is equal to the selling price of 18 articles . Find the gain per cent ?

10. How much per cent above the cost price must a trader mark his goods so as to earn a profit of
36% after allowing a discount of 15 % on the marked price ?

11. A shopkeeper sells an item at a profit of 20%. Find the ratio of CP and SP?

12. A shopkeeper sells an item a profit of . If the cost price of the item was Rs.696, find the
selling price of the item.?

13. The selling price of a horse is Rs.3618. It was sold at a loss of Find the cost price of the
horse?

14. The sum of selling price and cost price of a bicycle is Rs.9300. If the bicycle is sold at a loss

of , find the selling price of the bicycle?

15. A shopkeeper sold an item at a profit of on S.P. Find the actual profit percentage.

16. A shopkeeper sold an item at a loss of on SP. If the sum of CP and SP of the article is
Rs.1768, find the SP of the article?

17. An article was sold at a price of Rs.500 at a profit of 25%. Find the SP of the article, if the profit
percentage is doubled?

18. A shopkeeper sold an article at Rs.480 at a loss of . Find the SP of the article with 25%
profit.?

19. A pen was sold at loss. If the same article was sold at profit then it would have
fetched Rs.100 more. Find the cost price of the article?

20. The difference between the selling price of an article when it is sold at a profit of and a loss

of is Rs. 2700. Find the cost price of the article?

21. Naveen Purchased a cycle at cost of ₹2000 and it sold Ram at 20% profit. Now Ram
spent ₹100 for its repair and sold to Jhon at 10% loss. Find the Cost price of Jhon?

22. Jhon sells a article to Tom at a gain of 20%. Tom sells it to Jhosi at a loss of
25% and Jhosi again sells it to Phani at a profit of 20%. If Phani pays ₹ 1728 to Tom,
what is the cost price of the article for Jhon?
23. The Cost price of the two articles were same and they sold one at 25% profit and
another sold at 20% loss. Now find the overall profit/ loss in this transaction?

24. A person sells two articles at the same price, one at a profit of 25% and another at a
Loss of 30%. Then find the overall profit/ loss in this transaction?

25. A shopkeeper sells 20% articles at 20% profit and he sells 30% of remaining articles
at 25% loss. Now remaining two articles sold at 50% profit. Now find the overall profit/
loss in this transaction?

26. A shopkeeper offer successive discounts 60% , 20% & 20% on product. Now find the
overall discount on that product?

27. A company sells two goods for 24000 each. One it gained 25% and on the other it
lost 25%. What is the overall gain or loss percent?

28. A Shopkeeper marks his goods 20% above the cost price , but allows a discount of
10% on the marked price. What is the gain or loss% in the deal for the shopkeeper?

29. A Shopkeeper even after allowing a discount of 20% , he still gets a profit of 30% on
the article. Then find mark up percent of that article ?

30. A fruits vender cost price of 20 apples is equal to selling price of 16apples, what is
the profit/loss percentage?

SET 3
1. 1/3 of a commodity is sold at 15% profit, ¼ is sold at 20% profit and the rest at 24% profit. If the
Total profit is Rs. 80 is earned then find the value of commodity?
A) 350
B) 410
C) 400
D) 300
E) None of these

2. A man purchases a certain no. of apple at 5 per rupee and same no. at 4 per rupee. He mixes
them together and sells them at 4 per rupee. What is his gain or loss%?
A) Gain 20 %
B) Gain 11.11%
C) Loss 11.11%
D) Loss 20 %
E) None of these

3. A trader allows a Discount of 5% for cash payment. How much approx % above cost price must he
mark his goods to make a profit of 10%?
A) 8.9%
B) 10%
C) 12.75%
D) 15.8%
E) None of these

4. If selling price is doubled, the profit triples. Find the profit percent?
A) 100%
B) 116.67%
C) 200%
D) 300%
E) None of these

5. 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) 2200
B) 2400
C) 2500
D) 2000
E) None of these

6. Abhishek purchased 20 dozens of toys at the rate of Rs. 375 per dozen. He sold each one of them
at the rate of Rs. 33. What was his percentage profit?
A) 5.4
B) 5.6
C) 6.5
D) 4.5
E) None of these

7. Some articles were bought at 6 articles for Rs. 5 and sold at 5 articles for Rs. 6. Gain percent is:
A) 33.33%
B) 66.66%
C) 44%
D) 50%
E) None of these

8. On selling 17 toys at Rs. 720, there is a loss equal to the cost price of 5 toys . The cost price of a
Toy is:
A) Rs. 50
B) Rs. 60
C) Rs. 65
D) Rs. 70
E) None of these
9. 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 Sufficent?
I. Sale price of the article
II. Number of articles sold
A)Only I is sufficient.
B) Only II is sufficient.
C) Both I & II are sufficient.
D) Either I or II are sufficient.
E) Both I & II are not sufficient.

10. A man purchases 10 Cows at Rs. 3000 each. 1 Cow died. He sold 2 Cows at 5% loss, at what
rate he should sale the remaining Cows, so as to gain a Profit of 10 % on the total Cost?
A) Rs.4000
B) Rs.3000
C) Rs.3900
D) Rs. 4500
E) Rs. 4200

11. Aadesh bought a combined total of 25 monitors and printers. He marked up the monitors by 20%
on CP while each printer was marked up by Rs. 2000. He was able to sell 75% of the monitors and 2
printers and make a profit of Rs. 49,000. The remaining monitors and 3 printers could not be sold by
him. Find his overall profit or loss if he gets no return on unsold items and it is known that a printer
costs 50% of a monitor.
(a) Loss of Rs. 48,500
(b) Loss of Rs. 21,000
(c) Loss of Rs. 41,000
(d) Data Inadequate
(e) None of these

12. A rickshaw dealer buys 30 rickshaws for Rs.4725. Of these, 8 are four seaters and rest are two
seaters. At what price must he sell the four seaters so that if he sells the two seaters at 3/4th of this
price, he makes a profit of 40% on his outlay.
(a) Rs. 180
(b) Rs. 270
(c) Rs. 360
(d) Rs. 450
(e) None of these

13. Ritesh bought 25 washing machines and microwave ovens for Rs. 2,05,000. He sold 80% of the
washing machines and 12 microwaves ovens for a profit of Rs 40,000. Each washing machine was
marked up by 20% over cost and each microwave oven was sold at a profit of Rs. 2,000. The
remaining washing machines and 3 microwave ovens could not be sold. What is Raghav’s overall
profit/loss?
(a) Rs. 1000 profit
(b) Rs. 2500 loss
(c) Rs. 1000 loss
(d) Cannot be determined
(e) None of these.
14. A flat and a piece of land were bought by two friends Tarun and Varun respectively at prices of
Rs. 2Lakh and Rs. 2.2 Lakh. The price of the flat rises by 20% every year and that of land by 10%
every year. After two years, they decided to exchange their possessions. What is approx. percentage
gain of the gainer?
(a) 7.56%
(b) 6.36%
(c) 4.39%
(d) 3.36%
(e) None of these

15. Sunil calculates his profit percentage on the selling price whereas Sujeet calculates his profit on
the cost price. They find that the difference of their profits is Rs. 900. If the selling price of both of
them are the same, and Sunil gets 50% profit and Sujeet gets 40% profit, then find their selling price.
(a) Rs 4200
(b) Rs 4500
(c) Rs 4000
(d) Rs 4800
(e) None of these

16. A reduction of 10% in the price of salt enables a person to buy 2 kg more for Rs.180. Find the
reduced and the original price per kg of salt respectively.
(a) Rs 10, Rs 9
(b) Rs 9, Rs 10
(c) Rs 18, Rs 20
(d) Rs 20, Rs 18
(e) Rs 18, Rs 16.2

17. A person sold his watch for Rs. 24. If the percentage of his loss was equal to the cost price , then
the watch would have cost him
(a) Rs. 40
(b) Rs. 60
(c) Rs. 50
(d) Rs. 80
(e) None of these

18. A man buys two horses for Rs. 1550. He sells one so as to lose 23% and other so as to gain
27%. On the whole transaction he neither gains nor loses. What does each horse costs?
(a) 807,743
(b) 817,733
(c) 827,723
(d) 837,713
(e) None of these

19. An orange vendor makes a profit of 20% by selling oranges at a certain price. If he charges Rs.
1.2 higher per orange he would gain 40%. Find the original price at which he sold an orange.
(a) Rs. 3
(b) Rs. 12
(c) Rs. 4.8
(d) Rs. 6.0
(e) None of these

20. After selling a watch, shyam found that he had made a loss of 10%. He also found that had he
sold it for Rs.27 more, he would have made a profit of 5%. the actual initial loss was what percentage
of the profit earned,had he sold the watch for a 5% profit?
(a) 23%
(b) 150%
(c) 200%
(d) 180%
(e) None of these.