# Profit and Loss | Important for UGC NET Paper -1

### Profit and Loss | UGC NET Mathematical Reasoning Paper -1

Profit and Loss :-  The terms profit and loss are used to determine whether a firm is profitable or not,

In cases where the selling price exceeds the cost price, the difference between the two is referred to as profit.

When the selling price is less than the cost price, the difference between the two is referred to as a loss.

The cost price is the cost at which a product is purchased.

A product’s selling price is at which a product is sold.

Discount = Marked Price – Selling Price

Profit = Selling Price – Cost Price.

Loss = Cost Price – Selling Price

Profit (%) = (Profit/CP) × 100

Loss (%) = (Loss /CP) × 100

Discount (%) = (Discount/MP) × 100

1. On selling a table for 900, Saurabh loses 10%. find out purchase price

solution :-

selling price of table is = 900
loses = 10 %
purchase price = X
selling price = X – (X* 10/100)
900 = 100x – 10x /100
900*100 = 90x
X = 90000/90
X = 1000

2. sonu bought a calculator for 720 and sold it at a loss of 8%. what is sell price

solution :-

cost price of calculator is = 720
loses = 8 %
suppose loss = X
Loss (%) = (Loss /CP) × 100
8 % = (x/720)*100
8 = (x/720)*100
100x = 720*8
X = 720*8/100
X = 57.60
Selling Price = Cost Price – Loss
sales price is = 720 – 57.60
sales price is = 662.6

3. A trader marks a discount of 20% on the MRP of 1400 for a mobile. after discount what is sell price

solution :-

MRP of mobile is = 1400
Discount is = 20%
sales price is = Marked Price – Discount
sales price is = 1400 – 20%
sales price is = 1400 – 1400 *20/100
sales price is = 1400 – 280
sales price is = 1120

4. saurabh buys a scooter for Rs. 14,700 and spends Rs. 2300 on its repairs. If he sells the scooter for Rs. 20,000 his gain percent is

solution :-

cost price of scooter is = 14700
Repairs cost is = 2300
Total cost price of scooter is = cost price of scooter + Repairs cost of scooter
Total cost price of scooter is = 14700 + 2300
Total cost price of scooter is = 17000
sales price is = 20000
Profit = Selling Price – Cost Price
Profit = 20000 – 17000
Profit = 3000
Profit (%) = (Profit/CP) × 100
Profit (%) = (3000/17000) *100
Profit (%) = 17.64

Important Profit and Loss Question for UGC NET Exam preparation and Put the answer on comment.

1. In a store, the profit is 120 % of the cost. If the cost increases by 20 % but the selling price is same, what is the Profit and Loss percentage.

2. Saurabh bought orange at 6 for a rupee. How many for a rupee must he sell to gain 25% profit.

3. When a home is sold for Rs. 1,00,000 the owner loses 8 %. At what price must that home be sold in order to gain 12%

4. 10 mango are bought at the rate of Rs. 250 and sold at the rate of Rs. 35 per mango. what is profit or loss percentage.

5. Saurabh sells one mobile for Rs. 1200 at a gain of 20% and another for Rs. 1500 at a loss of 5%. what is total Profit and Loss percentage

6. Sonu mixes 30 kg of rice at Rs. 30 per kg with 40 kg of rice of other variety at Rs. 40 per kg and sold the mixture of rice at Rs. 37 per kg. His Profit and Loss percent is

7. sonu buys a cycle for Rs. 4000 and sells it at a loss of 37.5 %. what is the sell price of cycle

8. Saurabh purchased 10 dozens of toys at the rate of Rs. 250 per dozen. He sold one @ Rs. 25. What was his profit and loss.

9. On selling 20 balls at Rs. 800, there is a loss equal to the cost price of 10 balls. what is cost price of a ball.