Profit and Loss Solved Examples
Question 1: A shopkeeper buys pens in bulk for Rs. 30 each. He sells each of them for Rs. 65. What will be the profit and the profit percentage?
Solution:
Given,
- Selling price of the Pen (S.P) = Rs. 65
- Cost price of the Pen (C.P) = Rs. 30
Profit = Selling Price – Cost Price
So, profit = 65 – 30
Profit = Rs. 35
Now,
Profit % = (Profit / Cost Price ) × 100
Profit Percentage = (35 / 30) × 100 = 1.16 × 100
Profit percentage = 116%.
Question 2: If a vendor sells fruits at Rs.350 per kg, whose cost price is Rs.250/- per kg. What will be the profit gained by the vendor? Find the profit percentage.
Solution:
Given,
- Cost Price = Rs.250
- Selling Price = Rs.350
Profit = Selling Price – Cost Price
Profit = 350 – 250 = 100
Profit % = (Profit / Cost Price ) × 100
Profit % = (100 /250) × 100
Profit % = 40 %
Question 3: Ankit bought a plot at Rs 3,27,000. He wanted an overall profit of 14% but he sold one-third of the plot at a loss of 6% so at what price should he sell the remaining plot of land?
Solution:
Cost price of Entire plot = Rs 3,27,000
Cost price of 1/3rd of the plot = 1/3 × 3,27,000 = Rs 109000
Loss Percentage = (Loss x 100)/C.P
6 = (loss x 100)/ 109000
Loss = (6 x 109000)/100 = 6540
Ankit suffered a loss of Rs 6540 on selling 1/3rd of the land
SP for 1/3rd of the land = 109000 – 6540 = 102460
To make a profit of 14% of 3,27,000, is
P% = (Profit / Cost Price ) × 100
14 = (profit / 327000) x 100
Profit = (14 x 327000)/100 = Rs 45780
Thus, to get a profit of Rs 45780
SP = 3,27,000 + 45780 = Rs 3,72,780
Ankit has already sold 1/3rd of the land at Rs 102460 thus he needs to sell the remaining land at Rs (3,72780 – 102460) = Rs 270320.
Therefore, Ankit needs to sell the remaining plot at Rs 270320.
Question 4: A man buys a cooler for Rs. 10000 and sells it at a loss of 14%. What is the selling price of the cooler?
Solution:
Cost Price of the cooler is Rs. 10000
Loss percentage is 14%
Loss percentage = (Loss/Cost Price) × 100
14 = (Loss/10000) × 100
Loss = (14 × 10000)/100 = 1400
Loss = Cost Price – Selling Price
Selling Price = Cost Price – Loss = 10000 – 1400
Selling Price = Rs 8600
Selling price of cooler is Rs 8600
Question 5: A shopkeeper buys juice cans in bulk for Rs 50 each. He sells them for Rs 30 each. Calculate the loss and the loss percentage.
Solution:
Given,
- Selling price = Rs 30
- Cost price = Rs 50
Using loss formula,
Loss = C.P. – S.P.
Loss = 50 – 30 = Rs 20
Using Loss Percentage Formula,
Loss% = (loss/ C.P.) × 100
Loss Percentage = (20 /50) × 100 = 40%
Loss = Rs 20
Loss Percentage = 40%
Important Maths Related Links:
Profit and Loss: Formula, Definition, Examples
Profit and Loss: Profit is the positive difference between the selling price and the cost price of an item, indicating a gain or financial benefit. It is calculated by subtracting the cost price from the selling price. Conversely, loss occurs when the selling price is less than the cost price, resulting in a negative difference. The formula for calculating profit is SP – CP, while the formula for calculating loss is CP – SP.
This article explores all the concepts related to Profit and Loss, whether it’s their formula or their percentage formula. Here we will also learn about the marked-up price and discount.
Table of Content
- What are Profit and Loss?
- Basic Concepts of Profit and Loss
- Cost Price (CP)
- Cost Price Formula
- Selling Price (SP)
- Selling Price Formula
- Marked Price (MP)
- Marked Price Formula
- Profit and Loss
- Profit (P)
- Loss (L)
- Profit and Loss Formula
- Profit Formula
- Loss Formula
- Discount Formula
- Profit and Loss Examples
- Profit and Loss – Percentage Formula
- Profit Percentage
- Loss Percentage
- Discount Percentage
- Profit and Loss Tricks
- How to Calculate Profit and Loss?
- Summarizing Important Formulas – Profit and Loss
- Profit and Loss Solved Examples
- Practice Questions – Profit and Loss
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