Basic Concepts and Questions

BASIC CONCEPTS

Cost Price (CP): The price at which a commodity is purchased is called the cost price

Selling Price (SP) : The price at which a commodity is sold is called the selling price

The difference between cost price and selling price gives loss or profit.

If the selling price of a commodity is more than the cost price then it is a profit. (SP>CP)

If the cost price of a commodity is more than the selling price then it is a loss (CP>SP)

Profit = SP - CP

Loss = CP - SP

Cost Price = Selling Price - Profit

Selling Price = Cost price + Profit

When loss is known,

Cost price = Selling price + Loss

Selling price = Cost price - Loss

If the selling price is equal to the cost price then there is neither Profit nor Loss

5.2 Percentage profit is determined by calculated the profit obtained for hundred.

. Suppose a person buys an article and sells it for a price more than what he had invested. He then gains in This transaction. Here the investment is nothing but the cost price. To determine the extent of the benefit, we define Percentage profit.

$Profit % = \frac{Profit}{Cost Price} \times 100$

$Loss % = \frac{Loss}{Cost Price} \times 100$

Example 1: A shopkeeper buys an article for ₹ 250 and sells it for ₹ 300. Find his profit percentage.

CP = ₹ 250 SP = ₹ 300

Profit = SP - CP

then profit amount = ₹ 300 - ₹ 250 = ₹ 50

$Profit % = \frac{50}{250} \times 100 = 20 %$

Example 2: A shopkeeper buys an article for ₹ 250 and sells it for ₹ 225. Find his loss percentage.

CP = ₹ 250 SP = ₹ 225

Loss = CP - SP

then Loss amount = ₹ 250 - ₹ 225 = ₹ 25

$Loss % = \frac{25}{250} \times 100 = 10 %$

NOTE : FOR MORE CONCEPTS, WATCH THE VIDEO.

Q1.

A man sold a watch for ₹ 1500 which he bought at ₹ 1550. His profit or loss is :

	A. ₹ 500 profit
	B. ₹ 500 loss
	C. ₹ 50 profit
	D. ₹ 50 loss

Discuss

Q2.

If a shopkeeper buys an article for ₹ 800 and sells it for ₹ 900. Find his profit percentage.

	A. 12.5 % loss
	B. 125 % profit
	C. 1.25 %profit
	D. 12.5 % profit

Discuss

Q3.

Sudhanshu buys a book ₹ 600 and sells it for ₹ 500. Find his profit or loss percentage.

	A. 20 % profit
	B. 20 % loss
	C. 16.66 % loss
	D. 16.66 % profit

Discuss

Q4.

Jeeban buys a camera at ₹ 4000. By selling it, he incurs a loss of 5%. What is his selling price?

	A. ₹ 3800
	B. ₹ 4200
	C. ₹ 4500
	D. ₹ 3750

Discuss

Q5.

Harish sold his bike for ₹ 62500 and made a profit of 25%. At what price did he buy it?

	A. ₹ 46875
	B. ₹ 48500
	C. ₹ 50500
	D. ₹ 50000

Discuss

Q6.

Rajiv sold his old camera at ₹ 6000 and got a profit of 20%. What was the cost price of the camera?

	A. ₹ 4800
	B. ₹ 5000
	C. ₹ 4500
	D. ₹ 5500

Discuss

Q7.

A person bought a TV set for ₹ 12000 and sold it at a loss of 12.5%. Find the selling price of the TV set.

	A. ₹ 10050
	B. ₹ 15050
	C. ₹ 10500
	D. ₹ 10005

Discuss

Q8.

Pawan bought a cycle at ₹ 7000. For how much should he sell it to gain 15%.

	A. ₹ 7750
	B. ₹ 8050
	C. ₹ 8550
	D. ₹ 8005

Discuss

Q9.

Rajesh sold his electronic typewriter at ₹ 7500 which he bought at ₹ 8000. Calculate his profit or loss percentage.

	A. 6.66% loss
	B. 6.66% profit
	C. 6.25% profit
	D. 6.25% loss

Discuss

Q10.

If a shopkeeper buys an article for ₹ 500 and sells it for ₹ 450. Find his loss percentage.

	A. 20%
	B. 10%
	C. 25%
	D. 40%

Discuss

Q11.

If a shopkeeper buys an article for ₹ 250 and sells it for ₹ 350. Find his profit percentage.

	A. 60%
	B. 80%
	C. 75%
	D. 40%

Discuss

Q1.

A fruit vendor buys 42 apples for ₹350. He sells 28 of these at ₹10 each and the remaining at ₹98. Find his profit or loss percent.

	A. 5% loss
	B. 5% profit
	C. 8% loss
	D. 8% profit

Discuss

Q2.

A fruit vendor buys 20 oranges for ₹125. At what price should he sell each orange to get a profit of 12%?

	A. ₹ 6
	B. ₹ 8
	C. ₹ 7
	D. ₹ 9

Discuss

Q3.

A man sold an article for ₹ 800 at a profit of 60%. Find his cost price.

	A. ₹ 1260
	B. ₹ 1000
	C. ₹ 500
	D. ₹ 1160

Discuss

Q4.

By selling 20 articles for a rupee, a man losses 4%. How many articles for a rupee should he sell so as to make a gain of 20%?

	A. 18
	B. 16
	C. 12
	D. 15

Discuss

Q5.

Raj sold an item for ₹ 6384 and incurred a loss of 30%. At what price should he have sold the item to have gained a profit of 30%?

(SBI PO -2017)

	A. ₹ 14656
	B. ₹ 11856
	C. ₹ 13544
	D. Can't be determined

Discuss

Q6.

A shopkeeper purchased a TV for ₹ 2000 and a radio for ₹ 750. He sells the TV at a profit of 20% and the radio at a loss of 5%. The total gain or loss is :

(SBI CLERK - 2016)

	A. ₹ 352.50 gain
	B. ₹ 362.50 gain
	C. ₹ 332 gain
	D. ₹ 300 loss

Discuss

Q7.

A shopkeeper sold an article for ₹ 1380 at a loss of 8%. At what price should it be sold to get a profit of 8%?

(SBI CLERK - 2016)

	A. ₹ 1560
	B. ₹ 1620
	C. ₹ 1680
	D. ₹ 1740

Discuss

Q8.

Sugan sold his bicycle at a loss of 30% at ₹ 10500. At what price should he have sold it so as to get a profit of $6 \frac{2}{3} %$ ?

	A. ₹ 18000
	B. ₹ 24000
	C. ₹20000
	D. ₹ 16000

Discuss

Q9.

By selling a TV set for ₹ 12000, a dealer makes a loss of $14 \frac{2}{7} %$ . At what price should he have sold it so as to get a profit of $7 \frac{1}{7} %$ ?

	A. ₹ 13000
	B. ₹ 14000
	C. ₹ 15000
	D. ₹ 16000

Discuss

Q1.

The selling price of a chair, a desk, and a table are in the ratio of 9: 5: 8. The cost price of the chair is ₹ 400. The profit percentage earned by selling the table is $14 \frac{2}{7} %$ . If the ratio of the percentage profit earned by selling the chair, desk, and table is 7: 14: 8 respectively, what is the overall percentage profit?

	A. 16.58%
	B. 15. 79%
	C. 14.75%
	D. 13.76%

Discuss