Profit and Loss Account is the key function of business. In that we discuss profit and loss Formula, Profit and loss problem, Profit Loss Account and profit loss statement.
Profit and Loss Account
A person go to market sell or buy something they have either loss or profit and Every shopkeeper want to sell the product with some profit to costumer and to understand the concept of profit & loss Account for students is very important as the topic is related to transaction in trade and business. When we purchase or sell a item , We occur either Profit or Loss and here we calculate the amount of profit loss Account.
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A seller or a person buy the article is called cost price and cost price denoted as C.P .
- Selling Price (S.P)
which an article is sold is called the selling price (S.P) of the article.
The difference between the selling price (s.p) and cost price (c.p) is called Profit.
The difference between the cost price (C.P) and selling price (S.P) is called loss.
Formula Of Profit And Loss
Profit = Selling Price – Cost Price
Loss = Cost price – Selling Price
Cost Price(C.P) = [100/(100 + Gain percentage)]* S.P
Cost Price (C.P) = [100/(100 – Loss Percentage)]* S.P
Selling Price(S.P) = [(100 + Gain Percentage)/ 100] *C.P
Selling Price (S.P) = [(100- Loss Percentage)/100] * C.P
Profit Percentage = (Profit / Cost Price) * 100
Loss Percentage = (Loss / Cost Price ) *100
Problem On Profit And Loss
- By selling a dozen pencil at a cost of ₹ 30 and the shopkeeper gain ₹ 10. His percentage of Profit was
(a) 20 (b) 35
(c) 50 (d) 66
- A man sold a watch at a profit of 5%. If cost price of watch was ₹ 200, What was it selling price?
(a) ₹205 (b) ₹210
(c) ₹ 250 (d) ₹ 300
- A man buy a radio for ₹ 900 and sell it For ₹1200. Find his gain percentage
(a) 20 (c) 30
(c) 25 (d) 33.33
- A man losses 10% by selling an article for ₹ 270. Find the cost price of the article
(a) ₹ 400 (b) ₹ 350
(c) ₹ 420 (d) ₹ 300
- If an article is sold at a loss of 50%, find the cost price in term s of selling price.
(a) 0.5 (b) 2
(c) 3 (d) 4
- By selling a radio for ₹ 570, I would loss 5%. At what price should i sell it to gain 5%?
(a) ₹ 630 (b) ₹ 600
(c) ₹ 640 (d) ₹ 650
- Salary of a person first gain by 20%, Then decrease by 20% change in his salary is
(a) 4%, Increase (b) 4%, decrease
(c) 8%, Increase (d) 8%, decrease
- A person buy 60 eggs for ₹90 , 10 eggs were broken . He sold the remaining eggs at ₹2 per egg. What is the profit percentage?
(a) 10 (b) 9
(c) 11.11 (d) 11
- A table was sold at 15% loss for ₹ 1700. C.P is
(a) ₹ 1685 (b) ₹ 1715
(c) ₹ 2000 (d) ₹ 2100
- A pen is bought for ₹ 20. At what price it most be sold to gain 20% of profit?
(a) ₹ 16 (b) ₹ 18
(c) ₹ 24 (d) ₹ 40