# Kerala PSC - Maths - Profit and Loss

## PROFIT AND LOSS

**General Rules**

**Cost Price (CP)**: The price at which an article is purchased is called the cost price of the article.

**Selling Price (SP)**: The price at which an article is sold is called the selling price of the article.

**Profit or Gain**: If SP is greater than CP, the seller is said to have profit or gain.

Clearly, Profit = (SP)-(CP)

**Loss**: If SP is less than the cost price, the seller is said to have a loss.

Clearly, Loss = (CP)-(SP)

Loss or gain are always reckoned on cost price.

Profit on 100 is Profit Percent.

Loss on 100 is Loss Percent.

**Points to Remember**

Profit = SP-CP | Loss = CP-SP> |

Profit% = (Profit x 100/CP) | Loss% = (Loss x 100/CP) |

SP = (100 + Profit%/100) x CP | SP = (100 - Loss%/100) x CP |

CP = (100/100 + Profit%) x SP | CP = (100/100 = Loss%) x SP |

If an article is sold at a Profit of 20% then SP = (120% of CP) | |

If an article is sold at a loss of 20% then SP = (80% of CP) |

### Exercise

1. Raju purchased an item for 8200 and sold it at the gain of 25%. From that amount he purchased another item and sold it at the loss of 20%. What is his overall gain/loss?[a] Loss of 140

[b] Gain of 120

[c] Loss of 150

[d] Neither gain nor loss

2. A man makes a profit of 10% by selling a radio for 495. What is the cost price of the radio?

[a] 465

[b] 450

[c] 475

[d] 420

3. If the cost price of 11 shirts is equal to the selling price of 10 shirts. Find the percentage profit or loss?

[a] 11%

[b] 9%

[c] 10%

[d] 1%

4. If a commodity is sold for 8100, there will be a loss of 10%. At what price should it be sold to make a profit of 10%?

[a] 9000

[b] 9900

[c] 8000

[d] 9100

5. A shopkeeper buys two TV sets of the same type. He sells one of them at a profit of 20% and the other at a loss of 5%. If the difference in selling price is 700, find the cost price of each TV set.

[a] 2800

[b] 2000

[c] 2300

[d] 2500

6. A shopkeeper bought a bicycle for 600 and sold it for 720. Find the gain percent.

[a] 15%

[b] 18%

[c] 20%

[d] 25%

7. A television set is sold at 12000. If its cost price is 10000. What is the profit%.

[a] 12%

[b] 24%

[c] 10%

[d] 20%

8. The cost price of an article is 200. It is sold at 12% of profit. What is the selling price?

[a] 224

[b] 212

[c] 324

[d] 286

9. Ramu purchased an Air conditioner for 12000 and sold it for 15000. What was the profit percentage?

[a] 25

[b] 35

[c] 20

[d] 15

10. A man buys a table for 1500 and then sells it for 1600. Find his profit percentage?

[a] 6^{2}_{3} % | [b] 6^{3}_{2} % |

[c] 3^{2}_{6} % | [d] 2^{6}_{3} % |

Kerala PSC - Maths - Profit and Loss
Reviewed by Santhosh Nair
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