Like us!

Have a Look!

WhatsApp Message

Share Link

Profit and Loss Percent

Comparing Quantities II - Concepts

Profit and Loss in Rupees

Profit and Loss Percent

Finding Cost Price

Finding Selling Price

Discount and Discount Percentage

Finding Marked Price and List Price

Successive Discount

Finding Tax

Class - RPF Constable Subjects

Concept Explanation

Profit and Loss Percent

$Profit ;Percent = frac{Profit}{Cost Price}times 100$

$small Loss ;Percent = frac{Loss}{Cost Price}times 100$

Illustration 1: Rohan sold a book for Rs 60 which he has bought for Rs 50. Find his profit or loss percent

Solution: Cost Price of One book = 50 Rs.

Selling Price of One book = 60 Rs.

As selling price is more than cost price so he is making profit.

Profit = SP -CP = 60- 50 = 10 Rs.

$large small Profit; percent = frac{Profit}{Cost;Price} times 100$

$small Profit; percent = frac{10}{50}times 100= 20%$

Illustration 2: If the C.P.of 25 chairs is equal to the S.P. of 30 chairs, find the loss percent.

Solution: Let the C.P. of each chair be Rs 1. Then,

C.P. of 30 chairs = Rs 30

It is given that,

S.P. of 30 chairs = C.P. of 25 chairs

$Rightarrow$ S.P. of 30 chairs = Rs 25

Clearly, S.P. < C.P.

So, there is loss given by

Loss = C.P. - S.P.

= Rs(30 - 25)

= Rs 5

Now, Loss % = $left ( frac{Loss}{C.P.} times 100 right )%$

$=left ( frac{5}{30} times 100 right )%$

$=16tfrac{2}{3}%$

Illustration 3: Three items are purchased at Rs 450 each. One of them is sold at a loss of 10%. At what price should the other two be sold so as to gain 20% on the whole transaction? What is the gain % on these two items?

Solution: We have, C.P. of one item = Rs 450

$therefore$ S.P. of three items = Rs(3 X 450)

= Rs 1350

Gain on the whole transaction = 20 % of S.P.

= 20% of Rs 1350

$=Rs;left ( frac{20}{100} times 1350right )$

= Rs 270

$therefore$ S.P. of three items = C.P. + Gain

= Rs 1350 + Rs 270

= Rs 1620

It is given that first item is sold at a loss of 10%.

$therefore$ Loss on selling first item = 10% of Rs 450

$=Rs;left ( frac{10}{100} times 450right )$

= Rs 45

$therefore$ S.P. of first item = C.P. - Loss

= Rs 450 - Rs 45

= Rs 405

S.P. of three items is Rs 1620 and the S.P. of first item is Rs 405

$therefore$ S.P. of the remaining two items = Rs 1620 - Rs 405

= Rs 1215

Thus, the other two items should be sold at Rs 1215

C.P. of the remaining two items = Rs(2 X 450) = Rs 900

$therefore$ Gain on the remaining two items = S.P. - C.P

= Rs 1215 - Rs 900

= Rs 315

$therefore$ Gain % on the remaining two items $=Rs;left ( frac{Gain}{C.P.} times 100right )$

$=Rs;left ( frac{315}{900} times 100right )$

= 35%

Sample Questions

(More Questions for each concept available in Login)

Question : 1

On selling an article for Rs. 240, a trader loses 4%. In order to gain 10%, he must sell that article for ___________
A. Rs. 264	B. Rs. 273. 20	C. Rs. 275	D. Rs. 280
Right Option : C
View Explanation

Question : 2

Yamini sold a book for Rs 120 which he has bought for Rs 100. Find his profit or loss percent
A. 10 % Profit	B. 20% Profit	C. 30% Profit	D. 40% Profit
Right Option : B
View Explanation

Question : 3

Suman bought 200 milk bars for Rs.10 each. However, 50 milk bars were rotten and had to be thrown away. The remaining were sold at Rs. 15 each . Hind her profit or loss %
A. Profit%=12.5%	B. Profit%=12.6%	C. Profit%=13.5%	D. Profit%=10.5%
Right Option : A
View Explanation