Practice the questions given in our Worksheet on Calculating Profit or Loss and get to know various models of questions asked in exams. You can use our Finding Profit and Loss Worksheet to self-evaluate your preparation and improvise on the areas of need. 6th Grade Math Students can Utilize the Profit and Loss Problems over here and understand the concept on a deeper level. The Questions framed below are on finding profit and loss given the cost price, selling price, etc.
Also, Refer:
Profit and Loss Worksheet with Answers PDF
I. Neeraj man buys a tv for Rs 12500 and sold it for Rs 10000. Find his profit or loss?
Solution:
Given,
Neeraj buys t.v = Rs 12500
He sold it for=Rs 10000
The selling price of tv is lesser than the cost price of the tv. So loss occurs.
We know that Loss=cost price – selling price
=12500 – 10000
=2500
Hence, Neeraj has a loss of Rs 2500.
II. Sindhu bought a saree for Rs 800 and sold at a gain of Rs 200. Find the selling price?
Solution:
Given,
Sindhu bought a saree for =Rs 800
Sindhu sold at a gain of =Rs 200
We know that Selling price= profit + cost price
= Rs 200 + Rs 800
=Rs 1000
Hence, the selling price of the saree is Rs 1000.
III. Find the loss or profit when a set of steel plates is bought for Rs 335 is sold for Rs420?
Solution:
Given,
set of steel plates is bought for = Rs 335
It is sold for = Rs 420
The selling price of a set of steel plates is greater than the cost price of the set of steel plates. So profit is gained.
We know that Profit=selling price – cost price
=Rs 420 – Rs 335
=Rs 85
Therefore, By selling a set of steel plates a profit of Rs 85 is gained.
IV. A pack of six pens is bought for Rs 92 and sold for Rs 17.50 each. Find the profit made?
Solution:
Given,
A pack of six pens is bought for=Rs 92
Each pen is sold for =Rs 17.50
The cost price of each pen=Rs 92/6=15.33
The selling price of each pen is greater than the cost price of each pen. So profit is gained.
Profit gained by selling one pen=selling price of one pen – cost price of one pen
=Rs 17.50 – Rs 15.33
=Rs 2.17
For six pens the profit gained=6 ×Rs 2.17= Rs13.02
Therefore, By selling six pens the profit gained is Rs 13.02.
V. Find the selling price of a glass article that is bought for Rs550 and sold at a loss of Rs 60.50?
Solution:
Given,
A glass article is bought for= Rs550
sold at a loss of = Rs 60.50
The selling price of the glass article=cost price – loss
=Rs 550 – Rs 60.50
=Rs 489.50
Hence, the selling price of a glass article is Rs 489.50.
VI. Find the cost price of a gift article, if by selling the gift article for Rs 1525 a gain of Rs 225 is made?
Solution:
Given,
The selling price of the gift article=Rs 1525
The gain made(profit)=Rs 225
The cost price of the gift article=selling price- gain
=Rs 1525 -Rs 225
=1300
Hence, the cost price of the gift article is Rs 1300.
VII. On selling a Sofa-set for Rs 38450, the manufacturer makes a loss of Rs 500. How much did it cost to the manufacturer?
Solution:
Given,
The selling price of the Sofa-set is=Rs 38450
The loss made=Rs 500
The cost price of the Sofa-set is =Rs 38450 -Rs 500
=37950
Hence, the cost price of the Sofa-set is Rs 37950.
VIII. In a market brinjals are bought at 4 kg for Rs 80 and sold at 3 kg for Rs 90. find:
(i) the cost price of 1 kg brinjals
(ii) the selling price of 1 kg brinjals
(iii) the gain or loss made by selling 1 kg brinjals
(iv) the gain or loss made by selling 20 kg brinjals
Solution:
Given,
brinjals are bought at 4 kg for= Rs 80
sold at 3 kg for= Rs 90
i)The cost price of 1 kg brinjals=Rs 80/4=Rs 20
ii) The selling price of 1 kg brinjals=90/3=Rs 30
iii) the gain made by selling 1 kg brinjals= selling price – cost price
=Rs 30- Rs 20
=Rs 10
iv) the gain made by selling 20 kg brinjals= selling price – cost price
=Rs 600- Rs 400
=Rs 200
IX. Chandhra bought three articles for Rs 375, Rs 580, and Rs 428. He is able to sell these articles for Rs 436, Rs 635, and Rs 350 respectively. Find the gain or loss to Chandra on the whole?
Solution:
Given,
Chandra bought three articles for= Rs 375, Rs 580, and Rs 428
He sold the articles=Rs 436, Rs 635, and Rs 350
The cost price of three articles=Rs 1383
The selling price of three articles=Rs 1421
The selling price of three articles is greater than the cost price of three articles. So profit is gained.
Profit=selling price – cost price
=Rs 1421 – Rs 1383
=Rs 38
Hence, the profit of Rs 38 is gained by selling the three articles.
X. Jay buys an old fridge for Rs 3550 and spends Rs 350 on its repairs.
(i) find the total cost price of the fridge to Jay.
(ii) find the profit or the loss made if Jay is able to sell the repaired fridge for Rs 6540.
Solution:
Given,
Jay buys an old fridge for= Rs 3550
Jay spends on its repairs=Rs 350
i) the total cost price of the fridge to Jay=Rs 3550+Rs 350
=Rs 3900
Therefore, the total cost price of the fridge is Rs 3900.
ii) Selling price of the repaired fridge=Rs 6540
The cost price of the fridge=Rs 3900
Here selling price of the fridge is greater than the cost price of the fridge. So profit is gained.
We know that Profit=selling price – cost price
=Rs 6540 – Rs 3900
=Rs 2640
Therefore, the profit of Rs 2640 is made by selling the fridge.
XI. Raja sells chocolates at 8 for Rs 4. If he has bought 250 chocolates at one rupee each; find:
(i) The selling price of each chocolate
(ii) The loss suffered by him by selling one chocolate
(iii) The total loss made on selling all the chocolates
Solution:
Given,
Raja sells 8 chocolates for= Rs 4
No. of chocolates Raja bought for Rs 1 each=250
i) The selling price of each chocolate=4/8
=1/2
=0.5 p.
Hence, the selling price of each chocolate is 0.5 p.
ii) The loss suffered by him by selling one chocolate=cost price- selling price
=Rs1 – 0.5 P
=0.5 p
Hence, the loss suffered by him by selling one chocolate is 0.5 p.
iii) The total loss made on selling all the chocolates=cost price- selling price
The cost price of 250 chocolates is Rs 250
The selling price of 250 chocolates is=250 × 0.5=125
=Rs 250 – Rs 125
=Rs 125
Hence the total loss made on selling all the chocolates is Rs 125.
XII. Karthik bought 40 pens for Rs80. He then sold each pen for Rs 3. Find the profit or loss?
Solution:
Given,
Karthik bought 40 pens for=Rs 80
He sold each pen=Rs 3
The cost price of 1 pen=Rs 80/40=Rs 2
Here selling price of each pen is greater than the cost price of each pen. So Profit occurs.
We know that profit=selling price – cost price
=Rs 3- Rs 2=Rs 1.
Hence, the profit is Rs 1.