Profit and Loss Shortcut Tricks – Important Formulas to Solve Profit and Loss
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
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
Go Through it: Math
Questions and Answers
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
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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