PROFIT and LOSS

Cost price (CP) The money paid by the shopkeeper to buy the goods is called the
cost price
Note- If there are some additional expenses on transportation labour, commission etc., these are to be added
in the cost price. Such expenses are called overhead expenses or overheads .

Selling Price (SP) The price at which the shopkeeper sells the goods is called the
selling price

1.Karthik buys a radio for Rs 400 and sold it for Rs 500. Find out his loss/profit in
percentage?
A. 10% B. 25% profit. C. 30%. D.25% loss.

2.Ram buys a television for Rs 2000 and spends Rs 500 for its repair, and he sold it
for Rs 2750 What is his profit percentage?
A. 10%. B.12.5% C. 20%. D. 12%.

3.If the cost price is 25 % less than the selling price, find the profit percentage.
A. 25 % B. 27.27 % C. 20 % D. 33.33 %
4). Find the SP when CP is Rs 40 and gain is 25%.
A.Rs 50 B.Rs 45 C.Rs 60 D.Rs 49

5). By selling an article for Rs 390 a shop keeper gains a profit of 30%. Find the
cost price?
A. 250. B. 300 C.280. D.320

6) A gold bracelet is sold for Rs 14500 at a loss of 20%. What is the cost price of the
gold bracelet?
A. Rs 18125 B.Rs 17400 C.Rs 15225 D. Rs 16800

7) By selling an article for Rs 69 a person suffers loss of 8%, however, if the same
article is sold for Rs 78, find out the loss or profit percentage?
A.4% profit.B. 5%loss C. 8% profit. D. 6%loss

8)A man sold an article at a loss of 20%. If he has sold that article for Rs. 120 more
he would have gained 10%. Find the cost price of the article?
A.600 B. 400 C. 300 D. 220

9) A mobile was sold at a loss of 8%. It was observed that if the selling price was
Rs. 540 more, the profit made would have been 10%. What is the actual selling
price of the mobile?
A. 2700 B. 2760 C. 3000 D. 3500

10) Find percentage loss when the cost price and selling price of an article are in the
ratio of 5 : 3.
A.40% B.35% C.45% D.26%

11). Cost price of 12 articles is equal to the selling price of 8 articles, Find the profit
or loss percentage?
A. 10% B. 20% C. 50% D. 25%

12)The cost price of an item is two-third of its selling price. What is the gain or loss
per cent on that item?
A.45 B.50 C.35 D.54

13)The difference between the CP and SP of an article is Rs 240. If the profit is

20%, the selling price
A.1440 B.1400 C. 1240 D. 1200

14) By selling a pen for Rs. 15, a man loses one-sixteenth of what it costs him. The
cost price of the pen is
A. Rs.16 B. Rs.18 C. Rs.20 D. Rs.21
15) Bananas are bought at the rate of 6 for Rs. 5 and sold at the rate of 5 for Rs. 6.
Profit per cent is
A.36% B.42% C.44% D. 48%

16) A fruit-seller buys lemons at 2 for a rupee and sells them at 5 for three rupees
What is his gain per cent?
A.10% B.15% C.20% D. 25%

17) A man sold two articles for Rs.1200 each. In one, he gained 20% and on the
other he lost 20%. His total loss was,
A. 400 B. 300 C. 200 D. 100

18) 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

19) Two dozen apples were purchased at Rs. 200. 16 of these apples are sold at Rs.
192. What is the expected profit percentage in this transaction?
A.28% B. 40% C. 44% D. 20%

20)A person sold a TV for Rs. 9400 and he lost a particular amount. When he sold
another TV of the same type at Rs. 10600, his gain was double the former loss.
What was the cost price of each TV?
A. 9800 B. 10000 C. 10200 D. 10400

21) A dishonest vendor professes to sell fruits at the cost price but he uses false
weight of 800 grams instead of 1 kg weight. Find his gain percentage?
A. 22% B. 24% C. 25% D. 30%

22)A sells a suitcase to B at 10% profit. B sells it to C at 30% profit. If C pays Rs

2860 for it, then the price at which a bought it is (CGL-2013)
A.1000 B.1600 C. 2000 D.2500

23) A person bought 8 quintals of rice for a certain rupees. After a week, he sold 3
quintal of rice at 10% profit, 3 quintal of rice with neither profit nor loss and 2
quintal at 5% loss in this transaction, what is the profit?
A.10% B.20% C.2.5% D.None of these

24) A dealer bought 80 cricket bats for Rs 50 each and sold 20 of them at a gain of
5%. What must be the gain percentage of the remaining bats, so as to get 10% gain
on the whole?
A.3 2/11 % B.12 ½% C.11 ⅔ % D.3 ⅗ %
25) A man gains 10 % when he sells the article at a certain price. Find his profit
percentage if he increases the selling price by 50 %.
A.15 % B.60 % C. 64 % D.65 %

26)Cost of 3 cricket balls = cost of 2 pairs of leg pads. Cost of 3 pairs of leg pads =
cost of 2 pairs of gloves. Cost of 3 pairs of gloves = cost of 2 cricket bats. If a
cricket bat costs Rs. 54, what is the cost of a cricket ball?
A.Rs.12 B.Rs.16 C.Rs.14 D.Rs.18

Markup and Discount Marked price:

Basically to avoid loss due to bargaining by the customer and to get the profit over
the cost price trader increases the cost price by a certain value, this increase in value
over cost price is known as markup and the increased price (i.e., CP + Markup) is
called the marked price or printed price or list price of the goods.

Marked price = CP + Markup Marked price = CP + (% markup on CP)

Generally goods are sold at marked price, if there is no further discount, then in this
case selling price equals to marked price.

Discount :
Discount means reduction of marked price to sell at a lower rate or literally discount
means concession. Basically it is calculated on the basis of marked price.

∴ Selling price = Marked price – Discount

or Selling price = Marked price (MP) – (% discount on MP)
Since, marked price = CP + % markup on CP
∴Remember markup is calculated on the basis of CP while discount is calculated
on the basis of MP.

1) If the cost price of an article is rs 300 and the per cent markup is 20%. What is
the marked price?
A. 240 B. 360 C. 400 D.320

2) If the marked price of an article is rs 660 and the discount is 10%, then what is
the selling price of the article?
A.594 B.754 C. 720 D.600

3)In a shop the price of a shirt is labeled as Rs.2000. There is a discount of 40% on
it. Further since you are a close friend of the shopkeeper he further gives a discount
of 20% on it. But you have only 800Rs in your pocket. Will you be able to buy the
shirt?
A.No B.Yes C.Maybe D.Cannot be determined
3) If the markup percentage of an article is 50% and discount percentage is also
20%, then the profit
percentage will be :
A.10% B. 0% C.30% D. 20%

4) The cost price of a photo album is Rs.200. The shopkeeper marks-up the price by
50% to arrive at the marked price. On the marked price he gives a discount of Rs.50.
Find the selling price of it?
A. Rs.220 B.Rs.250 C.Rs.260 D. Rs.270

5)A trader markup the goods by 10% and then gives a discount of 10%. What is the
profit or loss percentage?
A. 1% LOSS B.1% PROFIT C. NO LOSS/PROFIT D. 10% LOSS

6) Successive discount of 10% and 5% is equivalent to

A.16.5% B. 15% C. 15.5% D. 14.5%

7) A milk-man sells milk after mixing water to it to such a extent that water
accounts for 20% of the mixture. If he sells at a mark-up rate of 10%, find his actual
profit percentage.
A. 30% B.32% C.33.33% D. 37.5%