Profit and Loss Questions (original) (raw)

Last Updated : 23 Aug, 2024

Profit and loss are everyday concepts with real-life applications. Understanding them is essential for making smart financial decisions. This article offers a variety of easy-to-understand profit-and-loss questions. Whether you're a student or just want to enhance your financial skills, these questions and explanations will help you improve your problem-solving abilities.

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Some Important Formulas

Profit and Loss Questions with Solutions

**Question 1: A vendor purchased 200 mobile phones for 150eachandsoldthemfor150 each and sold them for 150eachandsoldthemfor200 each. Calculate the total profit.

**Solution:

Cost Price of 200 mobile phones = 200 × 150=150 = 150=30,000
Selling Price of 200 mobile phones = 200 × 200=200 = 200=40,000
Total Profit = Selling Price - Cost Price = 40,000−40,000 - 40,000−30,000 = $10,000

**Question 2: A bicycle is bought for $200 and sold at a loss of 10%. Calculate the selling price and the amount of loss incurred.

**Solution:

Cost Price of the bicycle = $200
Loss Percentage = 10%
Loss Amount = Loss Percentage × Cost Price = 10% × 200=200 = 200=20
Selling Price = Cost Price - Loss Amount = 200−200 - 200−20 = $180

**Question 3: A store bought 50 laptops for $500 each and sold 40 of them at a profit of 20%. Calculate the total profit or loss if the remaining laptops are sold at the same price as purchased.

**Solution:

Cost Price of 50 laptops = 50 × 500=500 = 500=25,000
Profit on 40 laptops = 40 × 20% × 500=500 = 500=4,000
Cost Price of remaining 10 laptops = 10 × 500=500 = 500=5,000
Total Profit or Loss = Profit on 40 laptops - Cost Price of remaining 10 laptops = 4,000−4,000 - 4,000−5,000 = -$1,000 (Loss)

**Question 4: A trader sold a watch for $360 and incurred a loss of 10%. Calculate the cost price of the watch.

**Solution:

Selling Price of the watch = $360
Loss Percentage = 10%
Loss Amount = Loss Percentage × Selling Price = 10% × 360=360 = 360=36
Cost Price = Selling Price + Loss Amount = 360+360 + 360+36 = $396

**Question 5: A retailer marked the price of a television at $800 and gave a discount of 15%. Calculate the selling price and the amount of discount.

**Solution:

Marked Price of the television = $800
Discount Percentage = 15%
Discount Amount = Discount Percentage × Marked Price = 15% × 800=800 = 800=120
Selling Price = Marked Price - Discount Amount = 800−800 - 800−120 = $680

**Question 6: A bookstore purchased 120 textbooks for $25 each and sold them at a profit of 15%. Calculate the total profit.

**Solution:

Cost Price of 120 textbooks = 120 × 25=25 = 25=3,000
Profit Percentage = 15%
Profit Amount = Profit Percentage × Cost Price = 15% × 3,000=3,000 = 3,000=450
Total Profit = Profit Amount = $450

**Question 7: A mobile phone retailer sold 30 smartphones at a profit of 25% and 20 smartphones at a loss of 10%. Calculate the overall profit or loss percentage.

**Solution:

Profit from 30 smartphones = 30 × 25% = 7.5% of the cost price
Loss from 20 smartphones = 20 × 10% = 2% of the cost price
Overall Profit or Loss = Profit - Loss = 7.5% - 2% = 5.5% of the cost price
Since the overall percentage is positive, there is a 5.5% profit.

**Question 8: A vendor bought 80 t-shirts for 8eachandsoldthemfor8 each and sold them for 8eachandsoldthemfor12 each. Calculate the total profit percentage.

**Solution:

Cost Price of 80 t-shirts = 80 × 8=8 = 8=640
Selling Price of 80 t-shirts = 80 × 12=12 = 12=960
Total Profit = Selling Price - Cost Price = 960−960 - 960−640 = $320
Total Profit Percentage = (Total Profit / Cost Price) × 100 = ($320 / $640) × 100 = 50%

**Question 9: A computer shop sold a laptop for $1,200 and incurred a loss of 20%. Calculate the cost price of the laptop.

**Solution:

Selling Price of the laptop = $1,200
Loss Percentage = 20%
Loss Amount = Loss Percentage × Selling Price = 20% × 1,200=1,200 = 1,200=240
Cost Price = Selling Price + Loss Amount = 1,200+1,200 + 1,200+240 = $1,440

**Question 10: A clothing store offered a discount of 30% on a dress priced at $150. Calculate the selling price and the amount of discount.

**Solution:

Marked Price of the dress = $150
Discount Percentage = 30%
Discount Amount = Discount Percentage × Marked Price = 30% × 150=150 = 150=45
Selling Price = Marked Price - Discount Amount = 150−150 - 150−45 = $105

**Question 11: A manufacturer produces 500 smartphones at a total cost of $50,000. If the manufacturer sells 60% of them at a profit of 30% each and the remaining at a loss of 15% each, calculate the overall profit or loss percentage.

**Solution:

Cost Price of 500 smartphones = $50,000
Profit on 60% of smartphones = 60% × 30% × Cost Price = 18% × 50,000=50,000 = 50,000=9,000
Loss on 40% of smartphones = 40% × 15% × Cost Price = 6% × 50,000=50,000 = 50,000=3,000
Overall Profit or Loss = Profit - Loss = 9,000−9,000 - 9,000−3,000 = $6,000
Overall Profit Percentage = (Overall Profit / Cost Price) × 100 = ($6,000 / $50,000) × 100 = 12%

**Question 12: A jewelry store bought 25 gold necklaces at an average cost of $500 each. If the store sells 20 of them at a profit of 25% each and the remaining at a loss of 10% each, calculate the overall profit or loss percentage.

**Solution:

Total Cost Price of 25 gold necklaces = 25 × 500=500 = 500=12,500
Profit on 20 necklaces = 20 × 25% × 500=500 = 500=2,500
Loss on 5 necklaces = 5 × 10% × 500=500 = 500=250
Overall Profit or Loss = Profit - Loss = 2,500−2,500 - 2,500−250 = $2,250
Overall Profit Percentage = (Overall Profit / Total Cost Price) × 100 = ($2,250 / $12,500) × 100 = 18%

**Question 13: A car dealer sold 15 cars in a month. He made a profit of 20% on the first 10 cars and a loss of 10% on the remaining 5 cars. Calculate the overall profit or loss percentage.

**Solution:

Profit on first 10 cars = 10 × 20% × Cost Price (per car)
Loss on remaining 5 cars = 5 × 10% × Cost Price (per car)
Overall Profit or Loss = (Profit on first 10 cars - Loss on remaining 5 cars)
Overall Profit Percentage = (Overall Profit / Total Cost Price) × 100

**Question 14: A retailer purchased 50 computer monitors for $250 each. He sold 20 of them at a profit of 15% each and the remaining at a loss of 8% each. Calculate the overall profit or loss percentage.

**Solution:

Cost Price of 50 computer monitors = 50 × 250=250 = 250=12,500
Profit on 20 monitors = 20 × 15% × 250=250 = 250=750
Loss on 30 monitors = 30 × 8% × 250=250 = 250=600
Overall Profit or Loss = Profit - Loss = 750−750 - 750−600 = $150
Overall Profit Percentage = (Overall Profit / Total Cost Price) × 100 = ($150 / $12,500) × 100 = 1.2%

**Question 15: A business owner bought a machine for $12,000. After a year of use, he sold it at a loss of 25%. Calculate the selling price and the loss amount.

**Solution:

Cost Price of the machine = $12,000
Loss Percentage = 25%
Loss Amount = Loss Percentage × Cost Price = 25% × 12,000=12,000 = 12,000=3,000
Selling Price = Cost Price - Loss Amount = 12,000−12,000 - 12,000−3,000 = $9,000

**Question 16: A company purchased 500 shares of a stock at an average price of $40 per share. They sold 60% of the shares at a profit of 35% each and the remaining at a loss of 15% each. Calculate the overall profit or loss percentage.

**Solution:

Total Cost Price of 500 shares = 500 × 40=40 = 40=20,000
Profit on 60% of shares = 60% × 35% × Cost Price (per share)
Loss on 40% of shares = 40% × 15% × Cost Price (per share)
Overall Profit or Loss = (Profit on 60% of shares - Loss on 40% of shares)
Overall Profit Percentage = (Overall Profit / Total Cost Price) × 100

**Question 17: A technology company bought 100 laptops for $800 each and sold them at varying prices. They made a profit of 30% on the first 40 laptops, a profit of 20% on the next 30 laptops, and a loss of 10% on the remaining 30 laptops. Calculate the overall profit or loss percentage.

**Solution:

Profit on the first 40 laptops = 40 × 30% × Cost Price (per laptop)
Profit on the next 30 laptops = 30 × 20% × Cost Price (per laptop)
Loss on the remaining 30 laptops = 30 × 10% × Cost Price (per laptop)
Overall Profit or Loss = (Profit on the first 40 laptops + Profit on the next 30 laptops - Loss on the remaining 30 laptops)
Overall Profit Percentage = (Overall Profit / Total Cost Price) × 100

**Question 18: A furniture store purchased 25 dining tables for 300each.Afterselling10ofthemataprofitof25300 each. After selling 10 of them at a profit of 25% each, they decided to buy 15 more dining tables at a cost of 300each.Afterselling10ofthemataprofitof25320 each. Calculate the overall profit or loss percentage when they sell all the tables.

**Solution:

Cost Price of the initial 25 dining tables = 25 × 300=300 = 300=7,500
Profit on 10 tables = 10 × 25% × 300=300 = 300=750
Cost Price of the additional 15 tables = 15 × 320=320 = 320=4,800
Overall Profit or Loss = (Profit on 10 tables - Cost Price of additional 15 tables)
Overall Profit Percentage = (Overall Profit / Total Cost Price) × 100

**Question 19: A jewelry shop bought 50 gold rings for 500eachand40silverringsfor500 each and 40 silver rings for 500eachand40silverringsfor80 each. After selling 80% of the gold rings at a profit of 40% each and 70% of the silver rings at a loss of 15% each, calculate the overall profit or loss percentage.

**Solution:

Cost Price of 50 gold rings = 50 × 500=500 = 500=25,000
Profit on 80% of gold rings = 80% × 40% × Cost Price (per gold ring)
Cost Price of 40 silver rings = 40 × 80=80 = 80=3,200
Loss on 70% of silver rings = 70% × 15% × Cost Price (per silver ring)
Overall Profit or Loss = (Profit on 80% of gold rings - Loss on 70% of silver rings)
Overall Profit Percentage = (Overall Profit / Total Cost Price) × 100

**Question 20: A trading company bought 200 shares of a company's stock at varying prices. They sold 60% of the shares at a profit of 18% each and the remaining at a loss of 12% each. Calculate the overall profit or loss percentage.

**Solution:

Total Cost Price of 200 shares = (Sum of individual purchase prices)
Profit on 60% of shares = 60% × 18% × Cost Price (per share)
Loss on 40% of shares = 40% × 12% × Cost Price (per share)
Overall Profit or Loss = (Profit on 60% of shares - Loss on 40% of shares)
Overall Profit Percentage = (Overall Profit / Total Cost Price) × 100

**Question 21: A trader bought 60 watches for $500 each. He sold 30% of them at a profit of 50% each, 40% at a profit of 30% each, and the remaining at a loss of 20% each. Calculate the overall profit or loss percentage.

**Solution:

Cost Price of 60 watches = 60 × 500=500 = 500=30,000
Profit on 30% of watches = 30% × 50% × Cost Price (per watch)
Profit on 40% of watches = 40% × 30% × Cost Price (per watch)
Loss on remaining 30% of watches = 30% × 20% × Cost Price (per watch)
Overall Profit or Loss = (Profit on 30% of watches + Profit on 40% of watches - Loss on remaining 30% of watches)
Overall Profit Percentage = (Overall Profit / Total Cost Price) × 100

**Question 22: A tech company purchased 500 laptops at varying prices. They sold 60% of them at a profit of 25% each, 30% at a profit of 20% each, and the remaining at a loss of 10% each. Calculate the overall profit or loss percentage.

**Solution:

Total Cost Price of 500 laptops = (Sum of individual purchase prices)
Profit on 60% of laptops = 60% × 25% × Cost Price (per laptop)
Profit on 30% of laptops = 30% × 20% × Cost Price (per laptop)
Loss on remaining 10% of laptops = 10% × 10% × Cost Price (per laptop)
Overall Profit or Loss = (Profit on 60% of laptops + Profit on 30% of laptops - Loss on remaining 10% of laptops)
Overall Profit Percentage = (Overall Profit / Total Cost Price) × 100

**Question 23: A jewelry store bought 50 diamonds at varying prices. They sold 40% of them at a profit of 35% each, 30% at a profit of 20% each, and the remaining at a loss of 15% each. Calculate the overall profit or loss percentage.

**Solution:

Total Cost Price of 50 diamonds = (Sum of individual purchase prices)
Profit on 40% of diamonds = 40% × 35% × Cost Price (per diamond)
Profit on 30% of diamonds = 30% × 20% × Cost Price (per diamond)
Loss on remaining 30% of diamonds = 30% × 15% × Cost Price (per diamond)
Overall Profit or Loss = (Profit on 40% of diamonds + Profit on 30% of diamonds - Loss on remaining 30% of diamonds)
Overall Profit Percentage = (Overall Profit / Total Cost Price) × 100

**Question 24: A trader bought 100 shares of a company's stock at varying prices. He sold 60% of them at a profit of 30% each, 20% at a profit of 25% each, and the remaining at a loss of 10% each. Calculate the overall profit or loss percentage.

**Solution:

Total Cost Price of 100 shares = (Sum of individual purchase prices)
Profit on 60% of shares = 60% × 30% × Cost Price (per share)
Profit on 20% of shares = 20% × 25% × Cost Price (per share)
Loss on remaining 20% of shares = 20% × 10% × Cost Price (per share)
Overall Profit or Loss = (Profit on 60% of shares + Profit on 20% of shares - Loss on remaining 20% of shares)
Overall Profit Percentage = (Overall Profit / Total Cost Price) × 100

**Question 25: A retailer purchased 200 smartphones at varying prices. He sold 70% of them at a profit of 18% each, 25% at a profit of 22% each, and the remaining at a loss of 12% each. Calculate the overall profit or loss percentage.

**Solution:

Total Cost Price of 200 smartphones = (Sum of individual purchase prices)
Profit on 70% of smartphones = 70% × 18% × Cost Price (per smartphone)
Profit on 25% of smartphones = 25% × 22% × Cost Price (per smartphone)
Loss on remaining 5% of smartphones = 5% × 12% × Cost Price (per smartphone)
Overall Profit or Loss = (Profit on 70% of smartphones + Profit on 25% of smartphones - Loss on remaining 5% of smartphones)
Overall Profit Percentage = (Overall Profit / Total Cost Price) × 100

Profit and Loss Practice Questions

**Question 1: A shopkeeper bought 100 pens for 2eachandsoldthemfor2 each and sold them for 2eachandsoldthemfor3 each. Calculate the total profit.

**Question 2: A retailer marked the price of a television at $1,000 and gave a discount of 20%. Calculate the selling price and the amount of discount.

**Question 3: A trader sold 60 shirts for a total of $1,200 and incurred a loss of 10%. Calculate the cost price of each shirt.

**Question 4: A jewelry store bought 30 gold bracelets for 500eachand20silverbraceletsfor500 each and 20 silver bracelets for 500eachand20silverbraceletsfor100 each. After selling 60% of the gold bracelets at a profit of 25% each and 70% of the silver bracelets at a loss of 15% each, calculate the overall profit or loss percentage.

**Question 5: A computer shop sold 80 laptops at a profit of 15% each and 40 laptops at a loss of 8% each. Calculate the overall profit or loss percentage.

**Question 6: A jewelry store bought 30 gold bracelets for 500eachand20silverbraceletsfor500 each and 20 silver bracelets for 500eachand20silverbraceletsfor100 each. After selling 60% of the gold bracelets at a profit of 25% each and 70% of the silver bracelets at a loss of 15% each, calculate the overall profit or loss percentage.

**Question 7: A car is listed at $30,000. The dealer offers successive discounts of 10% and 5%. If a sales tax of 8% is applicable, what is the final price paid by the customer?

**Question 8: A retailer buys a product for $200. He marks it up by 40% but later offers a discount of 15% due to a sale. If he had to pay a 10% tax on the cost price, what is his final profit percentage?

**Question 9: A shopkeepers buys 50 items at 20each,40itemsat20 each, 40 items at 20each,40itemsat15 each, and 30 items at 10each.Hesellsallitemsatauniformsellingpriceof10 each. He sells all items at a uniform selling price of 10each.Hesellsallitemsatauniformsellingpriceof22. Find his overall profit percentage.

**Question 10: A customer gets a discount of 5% on the price of an article if he buys more than 10 pieces. If the list price of one article is $200, how many articles should a customer buy to get a maximum profit of 20% for the shopkeeper?

Answers to the Practice problems

1. Total profit: $100

2. Selling price: 800,Amountofdiscount:800, Amount of discount: 800,Amountofdiscount:200

3. Cost price of each shirt: $22.22

4. Overall profit or loss percentage: 19.62% loss

5. Overall profit or loss percentage: 7.33% profit

6. Overall profit or loss percentage: 19.62% loss

7. Final price paid by the customer: $27,702

8. Final profit percentage: 8.18%

9. Overall profit percentage: 38.95%

10 .Number of articles: 12 articles