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Profit and Loss Question and Answer with Explanation

Best explanation to understand and solve the profit and loss

Profit and loss is one of the most important and integral part of financial statement. It is fully based on income statement. In math paper is incomplete without this topic.

Profit and loss is one of the important topics in IBPS EXAM, SSC, RAILWAY and all the company interviews. 

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Profit and Loss

Profit and loss is the most wanted topics in business, It is all about income status. In our daily life every individual face this problem, so first we want clear the definition of profit and loss. 

Profit and loss summarized the income status(revenues) and expenses(the money spent on something) generated by the company over entire reporting status.

Profit and loss use end of an accounting period to collect the balance of the main balance. It is called as a financial year. 

The final year income provide the information about the company's ability and inability to generate the company income and loss or both. Here some simple formulas are available, try it and get a high marks in your exams.  

Profit and Loss Formule

S.P means = selling price

C.P means = cost price

( the selling price is higher than the cost price, it is called profit. The selling price is lower than the cost price is called loss.)

Profit = ( S.P - C.P )

Loss = ( C.P - S.P ) 

Profit percentage = [ P*100] / C.P

Loss percentage = [ L*100 ] / C.P 

Profit and Loss Tips and Shortcuts

  1. Profit and loss are one of the most important topics in competitive exams. If you know how to manage the time surely you will get a good mark in your exams. Profit and loss has some simple formula so, we request you to memorise the formula first.
  2. Before doing anything we recommend you to do math practice, success is no accident, It is hard work. Perseverance , learning, studying, and most of all, love of what you are doing or learning to do. Push your to the goal, daily you choose any ten questions, and practice with simple formula.
  3. Time management is one of the most important thing in math. If you know how to manage the time, then we will get good marks in your exams. 
  4. Keep trying and hard work is the best key to success, work hard in silence, let your success be your voice. If you need to improve your time more then you need to improve your practice.
  5. Here, we provide some basic tricks for scoring better marks. When you focus on problems, you will have more problems. When you focus on possibilities, you will have more opportunities.
  6. finally , we always welcome your valuable comment so, if you have any queries please do comment. Your little help will help so many needy. 

Profit and Loss Problems

Here we provide some problem and solution for profit and loss.  Solving the problem is one of the most wanted one in every field. Problem solving is the main topics in aptitude exams.

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1.

A woman by selling a magazine she make 10% profit. If she sell the magazine two times the price she is selling the calculate the profit percent.

2.

If a Shopkeeper purchased some product of Rs 250 and paid transportation charge of Rs 25 and sold it for Rs 400 then What would be the profit for him ?

3.

A man buys a watch of Rs. 3600 and he sells at the loss of 11% ? what is the cost of watch after he sells it ?

4.

What would be the Loss if the something sold for Rs 300 if that is purchased for Rs 450 ?

5.

If a person sold his car for Rs 30000 but he purchased it for Rs 80000.Find whether he has profit or loss of what amount ?

6.

A trade man on retail price of an article increase 44% and then he gave 16 complete 2/3 % concession on that article to a customer. Calculate the gain% of the trade man.

7.

If a shopkeeper sold a product for Rs 350 and purchased that product for Rs 650 then find the loss of shopkeeper ?

8.

Charlie give a mobile phone at Rs 918 and then he face a loss of 10%. Calculate at what money should Charlie give that mobile phone so that he make a profit of 20%.

9.

A women buys a dress of Rs. 5200 and she sells it at the loss of 23 % ? then what is the price of dress after she sell it ?

10.

If a shopkeeper sells a product for Rs 390 if that products purchased by him of Rs 180 then find the profit for the shopkeeper ?

11.

A Man purchased a Mobile of Rs 15000 and its cover for Rs 500 and he sold it for 10000 including with its cover then find his loss ?

12.

Mr Gupta giving wheat flour at market price to every customer and he also using eight-hundred gram weight as one kilo-gram weight. Calculate the gain percent earn by him.

13.

How much above the cost price should a man mark his goods so that after allowing at a discount of 18% for cash payment he may still make a profit of 6%?

14.

A men buys a phone of cost Rs. 2900, He sells to another person at loss % of 23 % ?

15.

An antique clock given to a customer at Rs 306 by making a loss of 85%. Calculate the cost price of the antique clock.

16.

If a shopkeeper bought a product for Rs 450 and sold it for Rs 750 then find the profit ?

17.

What is profit a person buy Rs 566 and sells it for Rs 665?

18.

A women buys a makeup kit of price 2400. and she sells at the loss of 29 % . what is the price of it after selling ?

19.

Pulok at 10% profit give a sunglass. After bought it at 10% less price if he give to the customer at Rs 3 more then he made profit of 25%. Calculate the market price of sunglass.

20.

If a shopkeeper purchased a smartphone for Rs 25000 in the wholesale and he sold it to a customer for Rs 31000 then find the profit to the shopkeeper ?

21.

A man buys a Phone of cost 4300 ? He sells the phone at the loss of 39 % ? what is the price of phone after selling ?

22.

At Rs 5700 William give a Cow and he face 5% loss. Calculate in what price should William give that Cow so that he can make 5% profit .

23.

If a Shopkeeper sold a Car for Rs 300000 which he bought for Rs 250000 then find the Profit for the Shopkeeper ?

24.

By selling a magazine for Rs 9 a trader suffers a loss % equal to the cost price of the magazine. What is the cost price of the magazine?

25.

A man bought a radio for Rs 400 and sold it for Rs 424. What is his profit percent ?

26.

Rahim sold a bicycle for Rs 690 which he bought for Rs 750. What is his loss per cent ?

27.

John receives 20% profit by selling an almirah for Rs 1800. Find the cost of the almirah.