Profit & Loss Questions with Answer


Solving a Profit and Loss Problem (āϞāĻžāĻ­ āφ⧰⧁ āĻ•ā§āώāϤāĻŋā§° āϏāĻŽāĻ¸ā§āϝāĻž āϏāĻŽāĻžāϧāĻžāύ)


Q. If the Compound Interest for the second year at 4% per annum is ₹520, find the principal. (āĻĒā§ā§°āĻļā§āύāσ ā§Ē% āĻŦāĻžā§°ā§āώāĻŋāĻ• āĻšāĻžā§°āϤ āĻĻā§āĻŦāĻŋāϤ⧀āϝāĻŧ āĻŦāϛ⧰⧰ āϚāĻ•ā§ā§°āĻŦ⧃āĻĻā§āϧāĻŋ āϏ⧁āϤ ₹520 āĻšāϞ⧇, āĻŽā§‚āϞāϧāύ āĻ•āĻŋāĻŽāĻžāύ ?)


Options / āĻŦāĻŋāĻ•āĻ˛ā§āĻĒāϏāĻŽā§‚āĻš: A) ₹10,000  B) ₹12,500  C) ₹15,000  D) None of these (āχāϝāĻŧāĻžā§° āĻāϟāĻžāĻ“ āύāĻšāϝāĻŧ)


Trick


Formula: 2nd Year’s CI = P × 104/100 × 4/100


P × 104 × 4/10000 = 520


P = 520 × 10000/104 × 4


P = 5200000/416 = 12,500


Ans / āωāĻ¤ā§āϤ⧰: B) ₹12,500


Shortcut Formula


P = 2nd Year’s CI × 10000 / R(100+R)


Here, P = 520 × 10000 / 4 × 104 = 12,500


Ans: â‚š12,500


Q. A shopkeeper buys a table for ₹2,400 and sells it for ₹2,880. Find the profit or loss and profit or loss percentage. āĻĒā§ā§°āĻļā§āύ: āĻāϜāύ āĻĻā§‹āĻ•āĻžāύ⧀āϝāĻŧ⧇ āĻāĻ–āύ āĻŸā§‡āĻŦ⧁āϞ ₹2,400 āϟāĻ•āĻžāϤ āĻ•āĻŋāύāĻŋ ₹2,880 āϟāĻ•āĻžāϤ āĻŦāĻŋāĻ•ā§ā§°ā§€ āϕ⧰āĻŋāϞ⧇āĨ¤ āϞāĻžāĻ­ āĻŦāĻž āĻ•ā§āώāϤāĻŋ āφ⧰⧁ āϞāĻžāĻ­ āĻŦāĻž āĻ•ā§āώāϤāĻŋā§° āĻļāϤāϕ⧰āĻž āĻšāĻžā§° āύāĻŋā§°ā§āĻŖāϝāĻŧ āϕ⧰āĻžāĨ¤


Soln


1at: Find the Profit or Loss (ā§§st: āϞāĻžāĻ­ āĻŦāĻž āĻ•ā§āώāϤāĻŋ āύāĻŋā§°ā§āĻŖāϝāĻŧ) 


Profit = Selling Price − Cost Price (āϞāĻžāĻ­ = āĻŦāĻŋāĻ•ā§ā§°ā§€ āĻŽā§‚āĻ˛ā§āϝ − āĻ•ā§ā§°āϝāĻŧ āĻŽā§‚āĻ˛ā§āϝ)


= ₹2,880 − ₹2,400 = ₹480


Since the Selling Price is greater than the Cost Price, there is a Profit.(āĻŦāĻŋāĻ•ā§ā§°ā§€ āĻŽā§‚āĻ˛ā§āϝ āĻ•ā§ā§°āϝāĻŧ āĻŽā§‚āĻ˛ā§āϝāϤāĻ•ā§ˆ āĻŦ⧇āĻ›āĻŋ, āϏ⧇āϝāĻŧ⧇ āϞāĻžāĻ­ āĻšā§ˆāϛ⧇āĨ¤)


2nd: Find the Profit Percentage (āϞāĻžāĻ­ā§° āĻļāϤāϕ⧰āĻž āĻšāĻžā§° āύāĻŋā§°ā§āĻŖāϝāĻŧ)


Profit % = (Profit ÷ Cost Price) × 100 {āϞāĻžāĻ­ % = (āϞāĻžāĻ­ ÷ āĻ•ā§ā§°āϝāĻŧ āĻŽā§‚āĻ˛ā§āϝ) × 100}


= (480 ÷ 2400) × 100 = 20%


Ans: Profit (āϞāĻžāĻ­) = ₹480


Profit Percentage(āϞāĻžāĻ­ā§° āĻļāϤāϕ⧰āĻž āĻšāĻžā§°) = 20%


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1. Calculating Profit


Q: A boy buys a toy for $15 and sells it for $20. Find the profit.


Soln:


Profit = Selling Price − Cost Price
Profit = 20 − 15
Profit = $5


Ans: Profit = $5


2. Calculating Loss


Q: A girl buys a book for $12 and sells it for $8. Find the loss.


Soln:


Loss = Cost Price − Selling Price
Loss = 12 − 8
Loss = $4


Ans: Loss = $4


3. Profit Percentage


Q: Cost Price = $50, Selling Price = $60. Find Profit Percentage.


Soln:


Profit = 60 − 50 = 10


Profit % = (Profit ÷ Cost Price) × 100
= (10 ÷ 50) × 100
= 0.2 × 100
= 20%


Ans: 20% Profit


4. Finding Cost Price


Q: Selling Price = $30, Profit = $5. Find Cost Price.


Soln:


Cost Price = Selling Price − Profit
Cost Price = 30 − 5
Cost Price = $25


Ans: $25


5. Extra Practice (Mixed)


Q: A pen is bought for $10 and sold for $13. Find profit.


Soln:


Profit = 13 − 10 = $3


Ans: $3


Q. A scheme offers "Buy 6, Get 4 Free" on identical items having the same MRP. Find the percentage discount received. (āĻāϕ⧇ MRP-āϝ⧁āĻ•ā§āϤ āĻāϕ⧇āϧ⧰āĻŖā§° āĻŦāĻ¸ā§āϤ⧁āϤ "ā§Ŧ āϟāĻž āĻ•āĻŋāύāĻ•, ā§Ē āϟāĻž āĻŦāĻŋāύāĻžāĻŽā§‚āϞ⧀āϝāĻŧāĻžāĻ•ā§ˆ āĻĒāĻžāĻ“āĻ•" āϧ⧰āĻŖā§° āĻ…āĻĢāĻžā§° āĻĻāĻŋāϝāĻŧāĻž āĻšā§ˆāϛ⧇āĨ¤ āϞāĻžāĻ­ āϕ⧰āĻž āĻ›āĻžāĻĄāĻŧā§° āĻļāϤāĻžāĻ‚āĻļ āύāĻŋā§°ā§āĻŖāϝāĻŧ āϕ⧰āĻžāĨ¤)


Options: A. 67.67% | B. 66.67% | C. 41% | D. 40%


Soln(āϏāĻŽāĻžāϧāĻžāύ):


Buy 6 items and get 4 items free.


Total items received = 6 + 4 = 10


Discount % = Free Items / Total Items × 100 = 4/10 × 100 


Ans / āωāĻ¤ā§āϤ⧰: D. 40%


HCF and LCM


Q. The HCF of two numbers is 18 and their LCM is 1512. If one of the numbers is 126,find the positive difference between the two numbers


(āĻĻ⧁āϟāĻž āϏāĻ‚āĻ–ā§āϝāĻžā§° HCF = 18 āφ⧰⧁ LCM = 1512āĨ¤ āϝāĻĻāĻŋ āχāϝāĻŧāĻžā§° āĻ­āĻŋāϤ⧰āϤ āĻāϟāĻž āϏāĻ‚āĻ–ā§āϝāĻž 126 āĻšāϝāĻŧ, āϤ⧇āĻ¨ā§āϤ⧇ āϏāĻ‚āĻ–ā§āϝāĻž āĻĻ⧁āϟāĻžā§° āĻŽāĻžāϜ⧰ āϧāύāĻžāĻ¤ā§āĻŽāĻ• āĻĒāĻžā§°ā§āĻĨāĻ•ā§āϝ āύāĻŋā§°ā§āĻŖāϝāĻŧ āϕ⧰āĻžāĨ¤)


Options: A. 216 | B. 126 | C. 256 | D. 90


Soln(āϏāĻŽāĻžāϧāĻžāύ):


Formula: First Number × Second Number = HCF × LCM


126 × x = 18 × 1512


27216 126


x = 27216 / 126 = 216 


Second number = 216


Positive difference: 216 − 126 = 90 


Ans / āωāĻ¤ā§āϤ⧰: D. 90


Q. If the Compound Interest (CI) for the second year at 10% per annum is ₹660, find the principal. (āĻĒā§ā§°āĻļā§āύāσ ā§§ā§Ļ% āĻŦāĻžā§°ā§āώāĻŋāĻ• āĻšāĻžā§°āϤ āĻĻā§āĻŦāĻŋāϤ⧀āϝāĻŧ āĻŦāϛ⧰⧰ āϚāĻ•ā§ā§°āĻŦ⧃āĻĻā§āϧāĻŋ āϏ⧁āϤ ₹660 āĻšāϞ⧇, āĻŽā§‚āϞāϧāύ āĻ•āĻŋāĻŽāĻžāύ ?)


Options / āĻŦāĻŋāĻ•āĻ˛ā§āĻĒāϏāĻŽā§‚āĻš: A) ₹6,000  B) ₹8,000  C) ₹10,000  D) None of these (āχāϝāĻŧāĻžā§° āĻāϟāĻžāĻ“ āύāĻšāϝāĻŧ)


Trick


Second year's CI = 10% of Amount after 1st year


Amount after 1st year = 660 × 10 = ₹6,600


Principal = 6,600 ÷ 1.10 = ₹6,000


Ans / āωāĻ¤ā§āϤ⧰: A) ₹6,000


Shortcut Formula : Principal = 2nd Year’s CI × 1000 / Rate × (100 + Rate)​​


For this question: P = 660 × 1000 / 10 × 110 = 660000 / 1100 = 6000


Ans: ₹6,000






Q. If the Compound Interest for the second year at 3% per annum is ₹618, find the principal. (āĻĒā§ā§°āĻļā§āύāσ ā§Š% āĻŦāĻžā§°ā§āώāĻŋāĻ• āĻšāĻžā§°āϤ āĻĻā§āĻŦāĻŋāϤ⧀āϝāĻŧ āĻŦāϛ⧰⧰ āϚāĻ•ā§ā§°āĻŦ⧃āĻĻā§āϧāĻŋ āϏ⧁āϤ ₹618 āĻšāϞ⧇, āĻŽā§‚āϞāϧāύ āĻ•āĻŋāĻŽāĻžāύ ?)


Options / āĻŦāĻŋāĻ•āĻ˛ā§āĻĒāϏāĻŽā§‚āĻš: A) ₹10,000  B) ₹15,000  C) ₹20,000  D) None of these (āχāϝāĻŧāĻžā§° āĻāϟāĻžāĻ“ āύāĻšāϝāĻŧ)


Trick : Second Year's CI = Principal × 103/100 * 3/100


P × 103/100 × 3/100 = 618 

P = 618 × 10000 / 103 × 3


Ans / āωāĻ¤ā§āϤ⧰: C) ₹20,000


Shortcut FormulaP = 6180000 / 309 = 20,000


Principal = 2nd Year’s CI × 10000 / R(100+R)

Here,


P = 618 × 10000 / 3×103 = 20,000

Ans: ₹20,000


Q. If the Selling Price of an item after an 18% discount is ₹1230, find the Marked Price. (āĻĒā§ā§°āĻļā§āύāσ 18% āĻ›āĻžāĻĄāĻŧ āĻĻāĻŋāϝāĻŧāĻžā§° āĻĒāĻŋāĻ›āϤ āϝāĻĻāĻŋ āϕ⧋āύ⧋ āĻŦāĻ¸ā§āϤ⧁⧰ āĻŦāĻŋāĻ•ā§ā§°āϝāĻŧ āĻŽā§‚āĻ˛ā§āϝ ₹1230 āĻšāϝāĻŧ, āϤ⧇āĻ¨ā§āϤ⧇ āĻ…āĻ‚āĻ•āĻŋāϤ āĻŽā§‚āĻ˛ā§āϝ (Marked Price) āĻ•āĻŋāĻŽāĻžāύ ?)


Options / āĻŦāĻŋāĻ•āĻ˛ā§āĻĒāϏāĻŽā§‚āĻš: A) ₹1400  B) ₹1500  C) ₹1600  D) ₹1700


Solution / āϏāĻŽāĻžāϧāĻžāύ


Formula / āϏ⧂āĻ¤ā§ā§°:


SP = MP × (100 − Discount %) / 100 


1230 = MP × (100 - 18) / 100 


1230 = MP × 82 / 100 


 MP = 1230×100 / 82 = 123000 / 82 = 1500


Ans / āωāĻ¤ā§āϤ⧰: B) ₹1500





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