Profit & Loss Questions with Answer
Solving a Profit and Loss Problem (āϞāĻžāĻ āĻā§°ā§ āĻā§āώāϤāĻŋā§° āϏāĻŽāϏā§āϝāĻž āϏāĻŽāĻžāϧāĻžāύ)
Q. If the Compound Interest for the second year at 4% per annum is âš520, find the principal. (āĻĒā§ā§°āĻļā§āύāĻ ā§Ē% āĻŦāĻžā§°ā§āώāĻŋāĻ āĻšāĻžā§°āϤ āĻĻā§āĻŦāĻŋāϤā§āϝāĻŧ āĻŦāĻā§°ā§° āĻāĻā§ā§°āĻŦā§āĻĻā§āϧāĻŋ āϏā§āϤ âš520 āĻšāϞā§, āĻŽā§āϞāϧāύ āĻāĻŋāĻŽāĻžāύ ?)
Options / āĻŦāĻŋāĻāϞā§āĻĒāϏāĻŽā§āĻš: A) âš10,000 B) âš12,500 C) âš15,000 D) None of these (āĻāϝāĻŧāĻžā§° āĻāĻāĻžāĻ 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 / āĻāϤā§āϤ⧰: B) âš12,500
Shortcut Formula
P = 2nd Year’s CI × 10000 / R(100+R)
Here, P = 520 × 10000 / 4 × 104 = 12,500
Ans: âš12,500
Q. A shopkeeper buys a table for âš2,400 and sells it for âš2,880. Find the profit or loss and profit or loss percentage. āĻĒā§ā§°āĻļā§āύ: āĻāĻāύ āĻĻā§āĻāĻžāύā§āϝāĻŧā§ āĻāĻāύ āĻā§āĻŦā§āϞ âš2,400 āĻāĻāĻžāϤ āĻāĻŋāύāĻŋ âš2,880 āĻāĻāĻžāϤ āĻŦāĻŋāĻā§ā§°ā§ āĻā§°āĻŋāϞā§āĨ¤ āϞāĻžāĻ āĻŦāĻž āĻā§āώāϤāĻŋ āĻā§°ā§ āϞāĻžāĻ āĻŦāĻž āĻā§āώāϤāĻŋā§° āĻļāϤāĻā§°āĻž āĻšāĻžā§° āύāĻŋā§°ā§āĻŖāϝāĻŧ āĻā§°āĻžāĨ¤
Soln
1at: Find the Profit or Loss (ā§§st: āϞāĻžāĻ āĻŦāĻž āĻā§āώāϤāĻŋ āύāĻŋā§°ā§āĻŖāϝāĻŧ)
Profit = Selling Price − Cost Price (āϞāĻžāĻ = āĻŦāĻŋāĻā§ā§°ā§ āĻŽā§āϞā§āϝ − āĻā§ā§°āϝāĻŧ āĻŽā§āϞā§āϝ)
= âš2,880 − âš2,400 = âš480
Since the Selling Price is greater than the Cost Price, there is a Profit.(āĻŦāĻŋāĻā§ā§°ā§ āĻŽā§āϞā§āϝ āĻā§ā§°āϝāĻŧ āĻŽā§āϞā§āϝāϤāĻā§ āĻŦā§āĻāĻŋ, āϏā§āϝāĻŧā§ āϞāĻžāĻ āĻšā§āĻā§āĨ¤)
2nd: Find the Profit Percentage (āϞāĻžāĻā§° āĻļāϤāĻā§°āĻž āĻšāĻžā§° āύāĻŋā§°ā§āĻŖāϝāĻŧ)
Profit % = (Profit ÷ Cost Price) × 100 {āϞāĻžāĻ % = (āϞāĻžāĻ ÷ āĻā§ā§°āϝāĻŧ āĻŽā§āϞā§āϝ) × 100}
= (480 ÷ 2400) × 100 = 20%
Ans: Profit (āϞāĻžāĻ) = âš480
Profit Percentage(āϞāĻžāĻā§° āĻļāϤāĻā§°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. (āĻāĻā§ MRP-āϝā§āĻā§āϤ āĻāĻā§āϧ⧰āĻŖā§° āĻŦāϏā§āϤā§āϤ "ā§Ŧ āĻāĻž āĻāĻŋāύāĻ, ā§Ē āĻāĻž āĻŦāĻŋāύāĻžāĻŽā§āϞā§āϝāĻŧāĻžāĻā§ āĻĒāĻžāĻāĻ" āϧ⧰āĻŖā§° āĻ āĻĢāĻžā§° āĻĻāĻŋāϝāĻŧāĻž āĻšā§āĻā§āĨ¤ āϞāĻžāĻ āĻā§°āĻž āĻāĻžāĻĄāĻŧā§° āĻļāϤāĻžāĻāĻļ āύāĻŋā§°ā§āĻŖāϝāĻŧ āĻā§°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 / āĻāϤā§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
(āĻĻā§āĻāĻž āϏāĻāĻā§āϝāĻžā§° HCF = 18 āĻā§°ā§ LCM = 1512āĨ¤ āϝāĻĻāĻŋ āĻāϝāĻŧāĻžā§° āĻāĻŋāϤ⧰āϤ āĻāĻāĻž āϏāĻāĻā§āϝāĻž 126 āĻšāϝāĻŧ, āϤā§āύā§āϤ⧠āϏāĻāĻā§āϝāĻž āĻĻā§āĻāĻžā§° āĻŽāĻžāĻā§° āϧāύāĻžāϤā§āĻŽāĻ āĻĒāĻžā§°ā§āĻĨāĻā§āϝ āύāĻŋā§°ā§āĻŖāϝāĻŧ āĻā§°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 / āĻāϤā§āϤ⧰: D. 90
Q. If the Compound Interest (CI) for the second year at 10% per annum is âš660, find the principal. (āĻĒā§ā§°āĻļā§āύāĻ ā§§ā§Ļ% āĻŦāĻžā§°ā§āώāĻŋāĻ āĻšāĻžā§°āϤ āĻĻā§āĻŦāĻŋāϤā§āϝāĻŧ āĻŦāĻā§°ā§° āĻāĻā§ā§°āĻŦā§āĻĻā§āϧāĻŋ āϏā§āϤ âš660 āĻšāϞā§, āĻŽā§āϞāϧāύ āĻāĻŋāĻŽāĻžāύ ?)
Options / āĻŦāĻŋāĻāϞā§āĻĒāϏāĻŽā§āĻš: A) âš6,000 B) âš8,000 C) âš10,000 D) None of these (āĻāϝāĻŧāĻžā§° āĻāĻāĻžāĻ āύāĻšāϝāĻŧ)
Trick
Second year's CI = 10% of Amount after 1st year
Amount after 1st year = 660 × 10 = âš6,600
Principal = 6,600 ÷ 1.10 = âš6,000
Ans / āĻāϤā§āϤ⧰: A) âš6,000
Shortcut Formula : Principal = 2nd Year’s CI × 1000 / Rate × (100 + Rate)ââ
For this question: P = 660 × 1000 / 10 × 110 = 660000 / 1100 = 6000
Ans: âš6,000