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.

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Question 1 of 15

1. Question

The cost price of 30 articles is equal to the selling price of 40 articles. What is the profit or loss percentage?

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Question 2 of 15

2. Question

A shopkeeper offers 20% discount and still makes profit of 25%. Calculate the cost of article which has a marked price of Rs 200.

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Question 3 of 15

3. Question

A merchant fixes the sale price of his goods at 15% above the cost price. He sells his goods at 12% less than the fixed price. His percentage of profit is :

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Question 4 of 15

4. Question

If a man were to sell his chair for Rs. 720, he would lose 25%. To gain 25% he should sell it for

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Question 5 of 15

5. Question

A man bought an old typewriter for Rs. 1200 and spent Rs. 200 on its repair. He sold it for Rs. 1680. His profit per cent is:

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Question 6 of 15

6. Question

What is the maximum percentage discount that a merchant can offer on her marked price so that she ends up selling at no profit or loss, if she had initially marked her goods up by 50%?

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Question 7 of 15

7. Question

A merchant who marked his goods up by 50% subsequently offered a discount of 20% on the marked price. What is the percentage profit that the merchant make after offering the discount?

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Question 8 of 15

8. Question

A merchant marks his goods in such a way that the profit on sale of 50 articles is equal to the selling price of 25 articles. What is his profit margin?

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Question 9 of 15

9. Question

One year payment to the servant is Rs. 200 plus one shirt. The servant leaves after 9 months and recieves Rs. 120 and a shirt. What is the price of the shirt?

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Question 10 of 15

10. Question

If apples are bought at the rate of 30 for a rupee, how many apples must be sold for a Rupee so as to gain 20%?

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Question 11 of 15

11. Question

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

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Question 12 of 15

12. Question

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

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Question 13 of 15

13. Question

Successive discounts of 20 % and 10 % equivalent to a single discount of how many percent?

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Question 14 of 15

14. Question

The marked price of a shirt is Rs.1000. A shopkeeper offers 10% discount on this shirt and then again offers 20% discount on the new price. How much will you have to pay, finally?

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Question 15 of 15

15. Question

The marked price of a shirt is Rs.1000. A shopkeeper offers 10% discount on this shirt and then again offers 20% discount on the new price. How much will you have to pay, finally?