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.

Must read

Quantitative Aptitude series

Guide to Quantitative aptitude

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(%) =

C.P.

4) Loss percentage(%) =

C.P.

5) There is a direct relationship between selling price and cost price:

S.P. =

100

S.P. =

100

Similarly, If an article is sold at loss of 18%, then by using second formula , you can find that S.P. is 82% of C.P.

6) If a person sells two commodities at same prices. On one he gains x% and loses x% on another, then as a whole he will be in loss and the loss percentage will be equal to:

100 10

Note: Here is an example to find gain in case of dishonesty.

Problem 1: A dishonest dealer professes to sell his goods at cost price but he uses a weigh 960 grams for 1 kg. How too calculate gain percentage?

Solution: Gain percentage =

True value - Error 960

Must read

Quantitative Aptitude series

Guide to Quantitative aptitude

## Various profit and loss formulas used in profit and loss:

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__* 100C.P.

4) Loss percentage(%) =

__Loss__* 100C.P.

5) There is a direct relationship between selling price and cost price:

S.P. =

__100 + Gain percentage__* C.P. (In case of gain)100

S.P. =

__100 - Loss percentage__* C.P. (In case of loss)100

## For Example :

If an article is sold at gain of 27%, then by using first formula , you can find that S.P. is 127% of C.P.Similarly, If an article is sold at loss of 18%, then by using second formula , you can find that S.P. is 82% of C.P.

6) If a person sells two commodities at same prices. On one he gains x% and loses x% on another, then as a whole he will be in loss and the loss percentage will be equal to:

__(Common gain or loss percentage)^2__=__x^2__100 10

Note: Here is an example to find gain in case of dishonesty.

Problem 1: A dishonest dealer professes to sell his goods at cost price but he uses a weigh 960 grams for 1 kg. How too calculate gain percentage?

Solution: Gain percentage =

__Error__* 100 =__40__* 100 (Ans in %)True value - Error 960

*SBI PO Smart Prep Kit by Ramandeep Singh - Get here*####
*Bank Exams Today Notes*

*Bank Exams Today Notes*

By selling a watch for Rs. 144 a man

ReplyDeleteloses 10%. At what price should he sell it in

order to gain 10%?

Its in percentage(Profit and loss) notes solved example 2

i got till CP =160rs but then its written Gain required =15% and final answer as Rs 184..plz expailn

marvelous

DeleteSP with CP as Rs.100 = 90 as there is 10 % loss

DeleteNew SP with CP as Rs.100 = 115 as he needs 15% gain

SP with CP as Rs.100 : actual SP =New SP with CP as Rs.100 : New SP

90 : 144 = 115 : x

90 x = 114 * 115

x = 184

90x=144*110

Deletex=15840/90

x=176

OK

ReplyDeleteYou are correct Vikku.

ReplyDelete@vikku Ahhh sorry for that, it was 18% instead of 27%. Thanks for correction :)

ReplyDeleteIf an article is sold at gain of 27%, then by using first formula , you can find that S.P. is 127% of C.P.

ReplyDeleteSimilarly, If an article is sold at loss of 27%, then by using second formula , you can find that S.P. is 82% of C.P.

in the first case .

gain % -

(100+27) * 100

-------------------- = 127 % Answer

100

and in loss case

(100-27) * 100

------------------ = 73 % loss answer

100

Then why are you showing 82 % in loss case ??

Please correct me

Here we are calculating profit or loss on the basis of cost price.

Deletehey...! Vikku.... 100-27 or 100-18 once check it

DeleteA shop keeper sold a hat at 12% profit. Had he sold it for rs.24 more he would have gained 18%, what is the cost price of the hat? plz may i know thw solution,,,

ReplyDeleteSP1= 1.12 CP

DeleteSP2-= SP1+ 24= 1.12CP + 24= 1.18CP

Since, 1.12CP + 24 = 1.18CP,

Multiplying both sides by 100, we get-> 112CP + 2400= 118CP

Hence, CP= 2400/6 = 400

Answer is: CP=400.

A Shop keeper sold a hat at 12% profit. had he sold it for rs.24 more he would have gained 18%, what is the cost price of the hat?

ReplyDelete18%-12%= 4%

Deleteso 4% of X = 24

x= 400

a fruit vendor buys 120 shimla apples at 4 for rs100 and 120 golden apples at 6 for rs100. she decides to mix them and sells at 10 for 200.she will make gain or loss?

ReplyDeleteloss of 4%

Deletefruit vendor will get 5 rs of loss

ReplyDeletehow he wl get only 5 rs loss

Delete120 shimla apple means 120/4= 30 sets each of 100= 30*100= 3000 rs shimla apple

similarly 120 golden apple means 120/6= 20 sets each of 100= 2000 rs of golden apple

now toatal appls are 120=120=240 means 240/10= 24 sets & s.p. of one set is 200 means total sp is 200*24= 4800

coast price was 3000+2000=5000 so the loss is 5000-4800=200

A shopkeeppeer purchesed 5char and 7 tables per 5850. On tables he gets 16% profit and on chair 10% profit finally he received 711 as profit find the cost price of tables and chair?

ReplyDelete18% - 12%= 6 %

ReplyDelete6%= 24

1% = 4

100% = 400

i.e CP = 400

hi

ReplyDeleteok

Deletesir any shortcuts for Simple &Compound interests??

ReplyDeleteplease,,, any1 give me d explaination for d question,,,,, if profit earned after selling an article for 1516 rs is d same as loss incured after selling the article for rs 1492, what is cost prize of the article???????

ReplyDeleteprofit=sp1-cp(first case)

Deleteloss=cp-sp2(second case)

combining both case we get cp=sp1+sp2/2

s0 cp=1516+1492/2=1504

By selling a watch for Rs 1440, a man losses 10%. At what price should he sell it to gain 5 %

ReplyDeleteA shopkeeper allows 10% discount on goods when he sells without credit . Cost price of his goods is 80% of his selling price . If he sells his goods by cash then his profit is?

ReplyDelete