Profit and Loss
Profit and loss problems involves various terms like cost price, selling price, marked price etc. Basically, it is a difference between selling price and cost price.
Cost price is the price paid to purchase an article or a product or we can say it is a cost incurred in manufacturing an article. Selling price is the price at which a product is sold.
Various profit and loss formulas used
1) Generally, profit is calculated as:
Profit or gain = Selling price(S.P) – Cost price(C.P)
2) Similarly, Loss = Cost price – Selling price
3) Gain percentage(%) = Gain / C.P. * 100
4) Loss percentage(%) = Loss / C.P. * 100
5) There is a direct relationship between selling price and cost price:
4) Loss percentage(%) = Loss / C.P. * 100
5) There is a direct relationship between selling price and cost price:
Profit and Loss Shortcut Tricks
Before going to chapter we are follow some important facts and formula without this we are not able to calculate any profit or loss on any articles using shortcut tricks. when we purchase some item and then sell it we make profit or loss some time it depends on the cost price and selling price of an particular item. This type of problem are given in Quantitative Aptitude which is a very essential paper in banking exam. Under below given some more example for your better practice.
Anything we learn in our school days was basics and that is well enough for passing our school exams. Now the time has come to learn for our competitive exams. For this we need our basics but also we have to learn something new. That’s where shortcut tricks are comes into action .
- C P ( Cost Price ):
The Price at which an particular item or article is purchased, is called its cost price or In short called C P. Cost price is amount of money goes out from us when purchase any article or any particular item. - SP ( Selling Price ):
The price at which an particular item or article is sold, called itsselling price or In short called SP.
Selling Price is a amount of money came in when selling by any thing. - Profit or Gain:
If S.P ( Selling Price ) of an item is more than C.P ( Cost Price ), then vendor is said to have aprofit or gain. - Loss:
If S.P ( Selling Price ) of an item is less than C.P ( Cost Price ), the vendor said to have a loss. - Marked Price :
When we purchase any item we saw the label on it as price or marked Price and that is said to be MP ( Marked Price ).
Important Formulas:
1. Selling price is more then cost price is called Gain.
Gain = (S.P) – (C.P)
15% Profit on item that means,
Cost price 100%
Selling Price 115%
Profit 15%
Gain = (S.P) – (C.P)
15% Profit on item that means,
Cost price 100%
Selling Price 115%
Profit 15%
2. If Cost price is more then Selling price is called Loss.
Loss = ( C.P ) – ( S.P )
15% Loss on article that means,
Cost price 100%
Selling Price 85%
Loss 15%
3. Profit and Loss is always calculated on C.P ( Cost Price ).
Profit or Gain Percent Shortcut Tricks
We are follow some important facts and formula without this we are not able to calculate any profit or Gain percent any articles using shortcut tricks.when we purchase some item and then sell it we make profit some time depends on the cost price and selling price of an particular item. This type of problem are given in Quantitative Aptitude which is a very essential paper in banking exam.Under below given some more example for your better practice.
- Note : In case in Profit and Loss, the relation is between C P and S P is :
If Profit 30% accrued on an article its mean to we say that
- Cost Price of Particle is 100%
Selling Price of Particle is 130%
Profit of Particle after Selling 30%
- Formula: Gain % = (Gain x 100/C.P)
Example 1 : Rana purchase an ball for Rs.80 and sells it for Rs. 100. Find his gain percent.
Answer: C.P = 80 and S.P = 100.
Gain= 100 – 80 = 20
Gain % = 20 x 100/80 = 25%
So,his gain percent is 25%.
Answer: C.P = 80 and S.P = 100.
Gain= 100 – 80 = 20
Gain % = 20 x 100/80 = 25%
So,his gain percent is 25%.
Example 2 : A farmer purchase an article for Rs.25 and sells it for Rs. 28. Find his gain percent.
Answer: C.P = 25 and S.P = 28.
Gain= 28 – 25 = 3
Gain % = 3 x 100/25 = 12%
So, his gain percent is 12%.
Answer: C.P = 25 and S.P = 28.
Gain= 28 – 25 = 3
Gain % = 3 x 100/25 = 12%
So, his gain percent is 12%.
Example 3 : Sabir purchase an article for Rs.40 and sells it for Rs. 60. Find his gain percent.
Answer: C.P = 40 and S.P = 60.
Gain= 60 – 40 = 20 .
Gain % = 20 x 100/40 = 50%
So, his gain percent is 50%
Answer: C.P = 40 and S.P = 60.
Gain= 60 – 40 = 20 .
Gain % = 20 x 100/40 = 50%
So, his gain percent is 50%
Example 4: A untruthful retailer sell his product at cost price however uses a weight of 950 grams for a kg weight. Find his gain percent.
Answer : we apply gain% formula
1 Kg = 1000 grams.
Profit of untruthful retailer = ( 1000 grams – 950 grams ) = 50 grams.
Gain% = [ Error x 100 / ( True Value ) – (Error) ]%
50 x 100 / 950 = 100 / 19%
So, his gain percent is 100 / 19%.
Answer : we apply gain% formula
1 Kg = 1000 grams.
Profit of untruthful retailer = ( 1000 grams – 950 grams ) = 50 grams.
Gain% = [ Error x 100 / ( True Value ) – (Error) ]%
50 x 100 / 950 = 100 / 19%
So, his gain percent is 100 / 19%.
Example 5: A women went to shop to bought chocolate at 6 for a rupee. To gain 20% profit how many for a rupee she sail ?
Answer : Cost price 6 chocolate 1 rupee.
So, To Gain 20% of 1 rupee = 100 / 120 = 5 / 6.
= 5 x 6 / 6 = 5.
To gain 20% profit she sail for a rupee of 5.
Answer : Cost price 6 chocolate 1 rupee.
So, To Gain 20% of 1 rupee = 100 / 120 = 5 / 6.
= 5 x 6 / 6 = 5.
To gain 20% profit she sail for a rupee of 5.
Example 6: Sunita bought a TV for Rs.18000, and sold it by Rs.22000, How much profit she get ?
Answer : ( 22000 – 18000 ) = 4000.
profit she get = 4000 x 100 / 18000 = 200 / 9 = 22.222222222%.
So, his gain profit is 22.222222222%.
Answer : ( 22000 – 18000 ) = 4000.
profit she get = 4000 x 100 / 18000 = 200 / 9 = 22.222222222%.
So, his gain profit is 22.222222222%.
Loss Percent Shortcut Tricks
We are follow some important facts and formula without this we are not able to calculate any Loss percent of any articles using shortcut tricks.when we purchase some item and then sell it we make Loss on some time depends on the cost price and selling price of an particular item.
This type of problem are given in Quantitative Aptitude which is a very essential paper in banking exam. Under below given some more example for your better practice.
Suppose Mr, Roy is an owner of a bakery shop he sell different product and due to some reason he can’t make profit means he sells product with loss, loss means selling price of a product is less than the cost price.
Remember always that profit and loss are always counted on cost price, and cost price is also 100% in profit and loss.
- Loss percent Shortcut tricks
Formula: Loss% = (Loss x 100/C.P)
Example 1:
A man purchased a toy for Rs. 120 and sold it for Rs. 90, Find the loss Percent.
Answer :
C.P = 120 and S.P =90
So We Know the formula of Loss = C. P – S.P . Loss = (120 – 90) = 30
Loss% = 30 x 100/120 = 25%
So, the loss Percent is 25%.
Answer :
C.P = 120 and S.P =90
So We Know the formula of Loss = C. P – S.P . Loss = (120 – 90) = 30
Loss% = 30 x 100/120 = 25%
So, the loss Percent is 25%.
Example 2:
Anil purchased a mobile for Rs. 12000 and sold it for Rs. 8000, Find the loss Percent.
Answer :
C.P = 12000 and S.P =8000
So We Know the formula of Loss = C. P – S.P, Loss = (12000 – 8000) = 4000
%Loss = 4000 x 100/12000 = 33.33%
So, the loss Percent is 33.33%
Answer :
C.P = 12000 and S.P =8000
So We Know the formula of Loss = C. P – S.P, Loss = (12000 – 8000) = 4000
%Loss = 4000 x 100/12000 = 33.33%
So, the loss Percent is 33.33%
Example 3:
10% loss on selling price is what percent loss on the cost price ?
Answer :
consider selling price be = Rs.100, Then loss = Rs.10
Cost price = Rs.( 100 + 10 ) = 110
So, loss% = ( 10 / 110 x 100 ) = 100 / 11 %
Answer :
consider selling price be = Rs.100, Then loss = Rs.10
Cost price = Rs.( 100 + 10 ) = 110
So, loss% = ( 10 / 110 x 100 ) = 100 / 11 %
Example 4 :
A farmer purchased a cow for Rs. 200 and sold it for Rs. 180, Find the loss Percent.
Answer :
C.P = 200 and S.P =180
So We Know the formula of Loss = C. P – S.P . Loss = (200 – 180) =20
%Loss = 20 x 100/200 = 10%.
So, the loss Percent is 10%.
Answer :
C.P = 200 and S.P =180
So We Know the formula of Loss = C. P – S.P . Loss = (200 – 180) =20
%Loss = 20 x 100/200 = 10%.
So, the loss Percent is 10%.
Find Selling Price Profit and Loss Shortcut Tricks
When we purchase some item and then sell it we make Loss or profit on some time depends on the cost price and selling price of an particular item. We can find the Selling Price of an article using this Formula we are follow some important facts and formula without this we are not able to calculate any Loss percent of any articles using shortcut tricks.
This type of problem are given in Quantitative Aptitude which is a very essential paper in banking exam. Under below given some more example for your better practice.
- Selling Price:
- When we bought some article or product from market. There is some price is written on product body. The shopkeeper sold that product item at desired price to the customer, is called its selling price, Which is denoted by SP.
- we can also say for customer, Selling price is an quantity or money which is spent on product and pay to a sells person exchange with product quantity.
- Some problems are give according with this selling price where cost price of a product is given and gain percent or loss percent also given you need to find selling price help of this values.
- Find selling Price Profit and Loss Shortcut tricks
Formula: S.P = (100+Gain%)/100 x C.P.
Example:
We can find the Selling Price of article Using this above Formula
If C.P of a product is a Rs. 180, Gain = 30%, then Find the S.P.
Answer: S.P = ?
S.P = 130% of Rs. 180, Gain = ( 100+30 ) = 130, ( 130 / 100 x 180 ) = Rs. 234
So, Selling Price is Rs. 234
If C.P of a product is a Rs. 180, Gain = 30%, then Find the S.P.
Answer: S.P = ?
S.P = 130% of Rs. 180, Gain = ( 100+30 ) = 130, ( 130 / 100 x 180 ) = Rs. 234
So, Selling Price is Rs. 234
Shortcut Tricks
130/100 x 180 = 234.
- Formula: S.P = (100 – Loss%)/100 x C.P
Example:
If C.P of a product is a Rs. 180 , Loss = 30%, then Find the S.P.
Answer: S.P. = ?
S.P = 70% of Rs. 180, Loss = (100 – 30) = 70, ( 70/100 x 180 ) = Rs. 126
So the Selling Price is Rs. 126
Answer: S.P. = ?
S.P = 70% of Rs. 180, Loss = (100 – 30) = 70, ( 70/100 x 180 ) = Rs. 126
So the Selling Price is Rs. 126
Shortcut Tricks
70/100 x 180 = 126
Example :
Rajan bought a bike for Rs.60,000 and spent Rs. 4000 on repair and Rs. 1000 on transport and sold it with 25% profit. What price did he sell the car ?
Solution:
Cost price =Rs. 60,000 Spent on repair =Rs. 4000 transport =Rs. 1000 and profit 25%
So, Cost price =Rs.( 60,000 + 4000 + 1000 ) = Rs. 65,000
So, Selling price = Rs. 65,000 x 125 / 100 = 81250.
Cost price =Rs. 60,000 Spent on repair =Rs. 4000 transport =Rs. 1000 and profit 25%
So, Cost price =Rs.( 60,000 + 4000 + 1000 ) = Rs. 65,000
So, Selling price = Rs. 65,000 x 125 / 100 = 81250.
Find Cost Price Profit and Loss Shortcut Tricks
When we purchase some item and then sell it we make Loss or profit on some time depends on the cost price and selling price of an particular item. We can find the cost Price of an article using this Formula we are follow some important facts and formula without this we are not able to calculate any Loss percent of any articles using shortcut tricks. This type of problem are given in Quantitative Aptitude which is a very essential paper in banking exam. Under below given some more example for your better practice.
- Find cost price Profit and Loss Shortcut tricks
Formula: C.P =100 x S.P/(100+Gain%).
Example 1:
If S.P of a article is Rs. 240, then Gain 20%, Find the C.P.
Answer: C.P.= ?
C.P . = 100 x 240 / ( 100+20 )
=24000/120 = 200
C.P. = 200
shortcut Tricks:
100 x 240/( 120 ) = 200.
Answer: C.P.= ?
C.P . = 100 x 240 / ( 100+20 )
=24000/120 = 200
C.P. = 200
shortcut Tricks:
100 x 240/( 120 ) = 200.
- Formula: C.P = 100 x S.P/(100 – Loss%).
Example 2:
If S.P of a article is Rs. 240, then Loss 20%, Find the C.P.
Answer: C.P. = ?
C.P. = 100 x 240 / ( 100 – 20 )
= 24000/80 = 300
shortcut Tricks
100 x 240 / 80 = 300.
Answer: C.P. = ?
C.P. = 100 x 240 / ( 100 – 20 )
= 24000/80 = 300
shortcut Tricks
100 x 240 / 80 = 300.
Profit and Loss Example
We can find the cost Price of an article using this Formula we are follow some important facts and formula without this we are not able to calculate any Loss percent of any articles using shortcut tricks.
when we purchase some item and then sell it we make profit or loss some time it depends on the cost price and selling price of an particular item. This type of problem are given in Quantitative Aptitude which is a very essential paper in banking exam. Under below given some more example for your better practice.
when we purchase some item and then sell it we make profit or loss some time it depends on the cost price and selling price of an particular item. This type of problem are given in Quantitative Aptitude which is a very essential paper in banking exam. Under below given some more example for your better practice.
Example 1 :
If the C.P is 75% of the selling price, then What is the profit percent ?
Answer :
Let S.P = Rs 100,
Then C.P = 75
Profit = Rs 25
Profit% = ?
= 25x 100 / 75
= 100 / 3 = 33.3
Profit % = 33.3
Answer :
Let S.P = Rs 100,
Then C.P = 75
Profit = Rs 25
Profit% = ?
= 25x 100 / 75
= 100 / 3 = 33.3
Profit % = 33.3
Example 2 :
Find the single discount equivalent to a series discount of 30%, 20% and 10%.
Answer :
Let price be Rs. 100.
Then Net S.P = ( 90 x 80 x 70 / 100 x 100 x 100 ) x 100
= 36 x 7 / 5
= 252 / 5
= 50.4
Required Discount is = ( 100 – 50.4 ) = 49.6
Answer :
Let price be Rs. 100.
Then Net S.P = ( 90 x 80 x 70 / 100 x 100 x 100 ) x 100
= 36 x 7 / 5
= 252 / 5
= 50.4
Required Discount is = ( 100 – 50.4 ) = 49.6
Example 3 :
A Farmer purchased a cow and carriage for Rs. 3500. He sold the cow at a gain of 35% and the carriage at loss of 10%, So gaining 2% on the entire. Find the cost of the cow.
Answer :
We consider C.P of the cow Rs. x
Then C.P of the Carriage Rs. ( 3500 – x )
So,
35% of x – 10% of ( 3500 – x ) = 2% of 3500
( 35x / 100 ) – 10( 3500 – x ) / 100 = 2 x 3500 / 100
( 7x / 20 ) – ( 3500 – x ) / 10 = 70
7x – 2x 7000 = 1400
5x = 5600
x = 5600 / 5
x = 1400.
Answer :
We consider C.P of the cow Rs. x
Then C.P of the Carriage Rs. ( 3500 – x )
So,
35% of x – 10% of ( 3500 – x ) = 2% of 3500
( 35x / 100 ) – 10( 3500 – x ) / 100 = 2 x 3500 / 100
( 7x / 20 ) – ( 3500 – x ) / 10 = 70
7x – 2x 7000 = 1400
5x = 5600
x = 5600 / 5
x = 1400.
the cost of the cow is 1400.
Example 4:
If the cost price of 14 pens is equal to the selling price of 8 pens, the gain percent is :
Answer :
Let C.P of each pen is Rs. 1.Then
C.P of 8 pens = Rs. 8 : S.P price of 8 pens = Rs. 14
Gain % = 6 x 100 / 8 = 75%
the gain percent is 75%.
Answer :
Let C.P of each pen is Rs. 1.Then
C.P of 8 pens = Rs. 8 : S.P price of 8 pens = Rs. 14
Gain % = 6 x 100 / 8 = 75%
the gain percent is 75%.
Example 5 :
The Profit gained by selling an item for Rs.630 is equal to the loss incurred if the same article is sold for Rs. 370. To gain 50% profit what would be the sale price ?
Answer:
Let C.P price be x
Then
630 – x = x – 370
2x =1000
x = 500
Required S.P = 150% of 500
= 150 x 500 / 100
= 750
the sale price for making 50% profit is 750.
Answer:
Let C.P price be x
Then
630 – x = x – 370
2x =1000
x = 500
Required S.P = 150% of 500
= 150 x 500 / 100
= 750
the sale price for making 50% profit is 750.
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