Q1
Not Answered
NATIVE
Q1. A product costs Rs. 880 and is sold at 5% profit. Find the selling price.
SP = CP x (100+5)/100 = 880 x 105/100 = 924.
Home / General Aptitude / Profit & Loss
General Aptitude
Profit & Loss
Solve profit and loss scenarios from shops, markups, discounts, and real interview-style word problems.
About Profit & Loss
Profit and Loss is a fundamental topic in quantitative aptitude, appearing regularly in placement tests, MBA entrance exams, and government job screenings. The core concept revolves around cost price (CP) — the amount a seller pays to acquire an item, and selling price (SP) — the amount at which it is sold. When SP exceeds CP, the seller earns a profit; when CP exceeds SP, the seller incurs a loss. Both profit and loss are expressed as percentages of the cost price. Advanced problems include successive discounts, false weight scams, and marked price calculations. Below are solved profit and loss questions with step-by-step explanations to strengthen your fundamentals.
Key Takeaways
- Profit % and Loss % are ALWAYS calculated on Cost Price, never Selling Price.
- For profit: SP = CP × (100 + Profit%)/100. For loss: SP = CP × (100 - Loss%)/100.
- Discount % is calculated on Marked Price (MP), not Cost Price.
- In successive discount problems, apply discounts one after another — do not add them.
- If profit and loss percentages are equal, there is always a net loss of (P²/100)%.
Frequently Asked Questions
What is the formula for profit percentage?
Profit % = (Profit ÷ Cost Price) × 100, where Profit = Selling Price - Cost Price. Always use CP (not SP) as the base for percentage calculation.
How do I calculate selling price from cost price and profit%?
Selling Price = Cost Price × (100 + Profit%) ÷ 100. For 15% profit: SP = CP × 1.15. For 15% loss: SP = CP × 0.85.
What is successive profit and loss?
When profit or loss percentages are applied one after another, use the net change formula: Net% = a + b + (a × b) ÷ 100. If there's a 10% profit followed by a 20% discount: Net = 10 + (-20) + (10 × -20) ÷ 100 = -12% (net loss of 12%).
What is false weight profit?
When a seller uses false weight (say 900g instead of 1kg), the effective profit % = (Error ÷ Actual) × 100 = ((1000 - 900) ÷ 900) × 100 = 11.11% — this is added to the selling price profit.
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20 questions
~6 minutes
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Explanations included
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Q2
Not Answered
NATIVE
Q2. An item is sold for Rs. 936 at a loss of 10%. Find its cost price.
SP = CP x (100-10)/100. So CP = SP x 100/(100-10) = 1040.
Q3
Not Answered
NATIVE
Q3. A product costs Rs. 1040 and is sold at 10% profit. Find the selling price.
SP = CP x (100+10)/100 = 1040 x 110/100 = 1144.
Q4
Not Answered
NATIVE
Q4. If Cost Price = Rs. 889 and Selling Price = Rs. 974, what is the profit amount?
Profit = SP - CP = 974 - 889 = 85.
Q5
Not Answered
NATIVE
Q5. An item is sold for Rs. 1216 at a loss of 5%. Find its cost price.
SP = CP x (100-5)/100. So CP = SP x 100/(100-5) = 1280.
Q6
Not Answered
NATIVE
Q6. A product costs Rs. 1280 and is sold at 5% profit. Find the selling price.
SP = CP x (100+5)/100 = 1280 x 105/100 = 1344.
Q7
Not Answered
NATIVE
Q7. An item is sold for Rs. 1296 at a loss of 10%. Find its cost price.
SP = CP x (100-10)/100. So CP = SP x 100/(100-10) = 1440.
Q8
Not Answered
NATIVE
Q8. A product costs Rs. 540 and is sold at 10% profit. Find the selling price.
SP = CP x (100+10)/100 = 540 x 110/100 = 594.
Q9
Not Answered
NATIVE
Q9. If Cost Price = Rs. 1096 and Selling Price = Rs. 1364, what is the profit amount?
Profit = SP - CP = 1364 - 1096 = 268.
Q10
Not Answered
NATIVE
Q10. An item is sold for Rs. 608 at a loss of 5%. Find its cost price.
SP = CP x (100-5)/100. So CP = SP x 100/(100-5) = 640.
Q11
Not Answered
NATIVE
Q11. If Cost Price = Rs. 1144 and Selling Price = Rs. 1557, what is the profit amount?
Profit = SP - CP = 1557 - 1144 = 413.
Q12
Not Answered
NATIVE
Q12. A product costs Rs. 1720 and is sold at 20% profit. Find the selling price.
SP = CP x (100+20)/100 = 1720 x 120/100 = 2064.
Q13
Not Answered
NATIVE
Q13. If Cost Price = Rs. 532 and Selling Price = Rs. 624, what is the profit amount?
Profit = SP - CP = 624 - 532 = 92.
Q14
Not Answered
NATIVE
Q14. A product costs Rs. 1360 and is sold at 10% profit. Find the selling price.
SP = CP x (100+10)/100 = 1360 x 110/100 = 1496.
Q15
Not Answered
NATIVE
Q15. If Cost Price = Rs. 866 and Selling Price = Rs. 954, what is the profit amount?
Profit = SP - CP = 954 - 866 = 88.
Q16
Not Answered
NATIVE
Q16. An item is sold for Rs. 1260 at a loss of 10%. Find its cost price.
SP = CP x (100-10)/100. So CP = SP x 100/(100-10) = 1400.
Q17
Not Answered
NATIVE
Q17. A product costs Rs. 1240 and is sold at 10% profit. Find the selling price.
SP = CP x (100+10)/100 = 1240 x 110/100 = 1364.
Q18
Not Answered
NATIVE
Q18. If Cost Price = Rs. 408 and Selling Price = Rs. 707, what is the profit amount?
Profit = SP - CP = 707 - 408 = 299.
Q19
Not Answered
NATIVE
Q19. A product costs Rs. 1340 and is sold at 25% profit. Find the selling price.
SP = CP x (100+25)/100 = 1340 x 125/100 = 1675.
Q20
Not Answered
NATIVE
Q20. If Cost Price = Rs. 1389 and Selling Price = Rs. 1628, what is the profit amount?
Profit = SP - CP = 1628 - 1389 = 239.
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Profit & Loss Formula, shortcuts & preparation guide
Master profit & loss with regular practice. Key topics include percentage calculations, profit/loss, ratio, and time-work problems. Use shortcut methods for quick calculations and practice 15-20 questions daily to build speed and accuracy. This topic frequently appears in placement aptitude rounds.
Key formulas
- Profit = SP - CP
- Profit % = (Profit / CP) × 100
- SP = CP × (100 + Profit%) / 100
Profit & Loss Practice Questions with Answers
Build speed and accuracy with curated profit & loss practice. Each quiz includes solved explanations, timed mode, and instant correctness feedback.
How to prepare effectively for this topic?
Practice short timed sets daily, review every explanation, and track recurring mistakes for weekly revision.
Are these questions useful for placements and competitive exams?
Yes. The format mirrors common screening rounds with option-based answers and explanation-driven learning.