Problems on Cost Price, Selling Price, and Rates of Profit and Loss along with solved examples are given in this article with a clear explanation. Students can easily understand the in-depth concepts of C.P., S.P., Profit, and Loss by solving various problems. Also, we have included shortcuts and different methods to solve the problems to help the students while solving questions. Furthermore, all cost price, selling price, profit, and loss formula, solved examples, and practice questions are included here for the best practice of the students.
Cost Price: The price for a product or goods bought by a retailer or merchant is known as the Cost Price.
Selling Price: The price for products or goods sold by a retailer or merchant is known as the Selling Price.
Profit: It is the difference between Selling Price and Cost Price.
Profit = Selling Price – Cost Price = S.P. – C.P.
Profit percent = [(S.P. – C.P)/C.P.] x 100%
Profit percent = (Profit/C.P.) x 100%
Loss: It is the difference between Cost Price and Selling Price.
Profit = Cost Price – Selling Price = C.P. – S.P.
Profit percent = [(C.P – S.P.)/C.P.] x 100%
Profit percent = (Loss/C.P.) x 100%
Also, find
- Worksheet on Profit or Loss Percent
- Worksheet on Calculating Profithttps://ccssanswers.com/ or Loss
- Worksheet ohttps://ccssanswers.com/n Profit/Loss Involving Sales Tax
Cost Price, Selling Price and Rates of Profit and Loss Questions with Answers
1. A chair is bought for Rs. 300 and sold for Rs. 700. Find the gain percent?
(i) 133.33%
(ii) 73.33%
(iii) 93.33%
(iv) 233.33%
Solution:
Given that a chair is bought for Rs. 300 and sold for Rs. 700. From the given information, the cost price = Rs. 300 and Sale price = Rs. 700.
Now, find the Profit.
Profit or Gain = Selling Price – Cost Price = Rs. 700 – Rs. 300 = Rs. 400
Profit percent or gain percent = (Profit/Cost Price) x 100% = (400/300) x 100% = 133.33%
The gain percent of the book is 133.33%
Therefore, the answer is (i) 133.33%
2. A retailer sells 65 m of cloth for Rs. 8,905 at the profit of Rs. 5/m of cloth. What is the cost price of 1 m of cloth?
(i) Rs. 72
(ii) Rs. 32
(iii) Rs. 132
(iv) Rs. 152
Solution:
Given that a retailer sells 65 m of cloth for Rs. 8,905 at the profit of Rs. 5/m of cloth.
Firstly, find out the Selling Price of the 1 m cloth.
Selling Price of 1m of cloth = Rs. 8,905/65 = Rs. 137
Now, find the Cost Price of 1m of cloth.
Cost Price of 1m of cloth = Selling Price of 1m of cloth – profit on 1m of cloth
Cost Price of 1m of cloth = Rs. 137 – Rs. 5 = Rs. 132
The cost price of 1 m of cloth is Rs. 132
Therefore, the answer is (iii) Rs. 132
3. By selling a fan at Rs. 1600, a shopkeeper makes a profit of 25%. At what price should he sell the fan so as to make a loss of 25%?
(i) Rs. 690
(ii) Rs. 960
(iii) Rs. 540
(iv) Rs. 1200
Solution:
Given that by selling a fan at Rs. 1600, a shopkeeper makes a profit of 25%.
The selling price of a fan = Rs. 1600.
The shopkeeper makes a profit of 25%.
Firstly, find out the Cost Price.
Cost Price = (Selling Price) x [100/(100+Profit)]
Cost Price = (1600) x [100/(100+25)] = 1600 x [100/(125)]
Cost Price = 1280.
Now, find the Loss.
Loss = 25% = 25% of 1280 = Rs. 320.
Now, find the Selling Price.
Selling Price = Cost Price – Loss = 1280 – 320 = Rs. 960
The selling price of the fan to make a loss of 25% is Rs. 960
Therefore, the answer is (ii) Rs. 960
4. Alex bought 140 bottles at the rate of Rs. 200/bottle. The transport expenditure was Rs. 1,200. He paid an octroi at the rate of Rs. 1.55/bottle and labor charges were Rs. 300. What should be the selling price of 1 bottle, if he wants a profit of 20%?
(i) Rs. 247.125
(ii) Rs. 274.659
(iii) Rs. 245.687
(iv) Rs. 254.712
Solution:
Given that Alex bought 140 bottles at the rate of Rs. 200/bottle. The transport expenditure was Rs. 1,200. He paid an octroi at the rate of Rs. 1.55/bottle and labor charges were Rs. 300.
Total Cost Price per bottle = 200 + 1200/140 + 1.55 + 300/140 = 212.26
Selling Price = Cost Price[(100 + profit%)/100] = 212.26[(100 + 20%)/100] = 254.712
The selling price of 1 bottle, if he wants a profit of 20% is Rs. 254.712.
Therefore, the answer is (iv) Rs. 254.712
5. A man sold two cars for Rs. 5.8 lakhs each. On the one, he gained 10% and on the other, he lost 10%. What percent is the effect of the sale on the whole?
(i) 25% loss
(ii) 25% gain
(iii) 0.25% gain
(iv) 0.25% loss
Solution:
Given that a man sold two cars for Rs. 5.8 lakhs each. On the one, he gained 10% and on the other, he lost 10%.
Find out the loss%.
Loss% = (5/10)^2 = 1/4% = 0.25%.
The loss% that effect of the sale, on the whole, is 0.25%.
Therefore, the answer is (iv) 0.25% loss
6. A bike is sold at 25% profit. If the CP and the SP of the bike are increased by Rs 80 and Rs 50 respectively, the profit% decreases by 10%. Find the cost price of the bike?
(i) 260
(ii) 240
(iii) 320
(iv) 220
Solution:
Given that a bike is sold at 25% profit. If the CP and the SP of the bike are increased by Rs 80 and Rs 50 respectively.
Let the Cost Price = x, then Selling Price = (125/100) × x = 5x/4
New Cost Price (CP) = (x + 60), new Selling Price (SP) = (5x/4 + 30), new profit% = 25 – 15 = 10
So (5x/4 + 30) = (110/100) × (x + 60)
Solve, x = 240
Therefore, the answer is (ii) 240
7. A man bought some pens at the rate of 20 for Rs. 60 and sold them at 5 for Rs. 30. Find his gain or loss percent.
Solution:
Given that a man bought some pens at the rate of 20 for Rs. 60 and sold them at 5 for Rs. 30.
Cost price of 20 pens = Rs. 60 → Cost price (CP) of 1 pen = Rs. 3.
Selling price of 5 pens = Rs. 30 → Selling price (SP) of 1 pen = Rs. 30/5 = Rs. 6
Therefore, Gain = 6 – 3 = 3.
Gain percent = 3/3 * 100 = 100%
Therefore, the answer is 100%
8. A shopkeeper buys batteries from a dealer at a rate of Rs 350 per battery. He sells them at a rate of Rs 425 per battery. He buys 5 batteries of the same type and at the same rate. Find the overall profit/loss. Also profit percent/ loss percent.
Solution:
Given that a shopkeeper buys batteries from a dealer at a rate of Rs 350 per battery.
The cost price rate = Rs 350 per battery.
Total cost price = Rs 350 x 5 = Rs 1750
He sells them at a rate of Rs 425 per battery.
Selling price rate = Rs 425 per battery
Total selling price = Rs 4250
He buys 5 batteries of the same type and at the same rate.
Profit = total selling price – total cost price
= Rs 4250 – Rs 1750
= Rs 2500
Profit percent = (2500/1750) x 100 % = 142.85%
9. A shopkeeper sells a TV for Rs. 8,500 with a loss of Rs. 500. Find the price at which he had bought it from the dealer. Also, calculate the loss percent?
Solution:
Given that a shopkeeper sells a TV for Rs. 8,500 with a loss of Rs. 500. Find the price at which he had bought it from the dealer.
The selling price of the TV = Rs 8,500
The loss suffered by the shopkeeper = Rs 500
Now, find the Cost price.
We know that, Selling price = Cost Price – Loss
So, Cost Price = Selling Price + Loss
Cost Price = Rs 8,500 + Rs 500
= Rs 9,000
Loss percent = (Loss/Cost price) x 100% = (500/9000) x 100% = 5.55