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Profit and Loss Shortcut Tricks – Important Formulas to Solve Profit and Loss

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Profit and Loss Shortcut Tricks

Profit and Loss

Profit and Loss are one of the most important topics for any competitive exam that will be conducted by various recruitment panels. It takes so long time to solve the questions of calculative part in the exam but if you follow some guidelines of Profit and Loss Shortcut Tricks present on this page then you will definitely crack this exam without any difficulty.

Here in this article, you will find the basic ideas of how to solved question on profit and loss with short tricks. “Practice makes the man perfect”, this is an ideal example to become expert in a particular field. Through this page, you can get the Important Formulas to Solve Profit and Loss and improve your time limit. So check this Maths Tricks Page of www.privatejobshub.in and learn something new.
Cost Price or CP

The Price at which a particular item or article is purchased, is called its Cost Price or in short called CP. Cost price is amount of money goes out from us when purchase any article or any particular item.

Selling Price or SP

The price at which a particular item or article is sold, called its Selling Price or in short called SP. Selling Price is a amount of money came in when selling by anything.

Profit or Gain

If Selling Price or SP of an item is more than Cost Price or CP, then vendor is said to have a Profit or Gain.
Loss

If Selling Price or SP of an item is less than Cost Price or CP, 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 Marked Price or MP.
Some Important Formulas

Formula #1

If Selling Price is more than Cost Price then it is called Profit or Gain.
Gain = SP – CP
15% Profit on an item means,
Cost price = 100%
Selling price = 115%
Profit = 15%

Formula #2

If Cost Price is more than Selling Price then it is called Loss.
Loss = CP – SP
15% Loss on an item means,
Cost price = 100%
Selling price = 85%
Loss = 15%

Formula #3

Profit and Loss is always calculated on Cost Price or CP.

Formula #4

Cost price and profit percentage are given.
Cost price = C.P, Profit percentage = P%
Then Selling price (S.P) = (100+P)% x C.P

Formula #5

Cost price and loss percentage are given.
Cost price = C.P, Loss percentage = L%
Then Selling price (S.P) = (100 - L)% x C.P

Formula #6

Profit = S.P - C.P
Loss = C.P - S.P

Formula #7

Cost price and Profit are given
Cost price = C.P, Profit = "K"

Formula #8

Cost price and Loss are given
Cost price = C.P, Loss = "K"

Formula #9

Selling price and profit percentage are given.
How to find cost price?
Use "Formula #4" and solve for C.P

Formula #10

Selling price and loss percentage are given.
How to find cost price?
Use "Formula #5" and solve for C.P

Formula #11

Marked Price: It is the price before discount given
Selling price= Marked price - Discount value

Formula #12

Marked price= M.P, Discount = D%
Then, Discount value = (D% ) x M.P
 Selling price (S.P) = (100 - D)% x M.P

Formula #13

Marked price (M.P) and discount value are given.
Then shortcut to find the discount percentage is,
Discount percentage: Discount Value/ M.P. X 100%

Formula #14

RETAILER USING FALSE WEIGHT:
  • A trader cheats his customer to make a profit by stating that he sells at cost price but he gives his customer less than 1000 grams (false weight) for every kg.
  • Cheated value = Original weight - False weight
  • Then shortcut to find profit percentage is
  • profit percentage= cheated value/ false weight X 100%

Questions Related to the Formulas

 Ques1: The ratio of the cost price and the selling price is 4:5. The profit percent is?

1)    10
2)    20
3)    25
4)    30

Answer: 25

Explanation:

Profit is always calculated on cost price
so,  c.p=4 , s.p=5
Profit=s.p-c.p, 5-4=1
profit %=  profit/cost price * 100, then, 1/4*100= 25


Ques 2: If on selling 12 notebooks a seller makes a profit equal to selling price of 4 notebook, what is his profits percentage?

1)    16.2/3
2)    25
3)    50
4)    None of these

Answer: 50

Explanation:

If there is profit on selling item = selling price of an article
To find profit %, simply minus 12 from 4= 8
Profit % = 4/8*100=50

Ques 3: A vender by selling 12 toffee for a rupee. A man loses 20%. How many for a rupee should he sell to get a gain of 20%?

1)    10
2)    20
3)    8
4)    12

Answer: 8

Explanation:

12 toffee for rs 1 loss 20% then
c.p = 1*100/80 = 5/4    on this price we have to gain profit of 20%
So, 5/4* 120/100 = 3/2
If for Rs. 2/3 we have 12 toffee then for rs 1 we have
= 12x2/3=8

Read Now:
Ques4: A sell a bicycle of to B at a profit of 20%. B sell it to C at profit of 25%. If C pays rs. 225 for it the cost price of bicycle is?

1)    110
2)    120
3)    125
4)    150

Answer: 150

Explanation:

Let cost price be X then,
x.120/100 . 125/100= 225 ,
by solving, then X equal to 150



Ques5: An article when sold at a gain of 5% yields rs. 15 more than when sold at a loss of 5%. Its cost price would be

1)    150
2)    200
3)    250
4)    300

Answer: 150
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Explanation:

Difference between gain % and loss% equal to 10%
then, 10% = rs. 15
100% = rs. 150 , that is your cost price

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