Profit And Loss Formulas
Profit and Loss is a major topic for competitive examination like GMAT, GRE, CAT and upcoming Exams like SSC CGL; CHSL & MTS. Profit And Loss Formulas plays a mandatory role in MBA syllabus like Accounting, Financial Statements and more. As we know that shortcut Tricks are very important things in competitive exam and helps us in time management also. You can check Maths Profit And Loss Formulas and some Profit and Loss Shortcuts/Tricks also here. In order to provide complete information related to the use of formulas, we are providing Important Questions and Answers in which Formulas On Profit And Loss are used.
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Formulas For Profit And Loss (Part-1):
Profit Loss And Discount Formulas, Formulas Related To Profit And Loss and Profit And Loss Important Formulas are provided below for the comfort of the candidates, so please have a glance at once!!
- Cost price and Selling Price
- Cost price (CP) is the price at which a thing is purchased.
- Selling price (SP) is the price at which a thing is sold.
- Profit and Loss
- If selling price is more than cost price, profit (gain) occurs.
- If selling price is less than cost price, loss occurs.
In case of Profit
- Profit = selling price – cost price
- Selling price = cost price + profit
- Cost price = selling price – profit
In case of Loss
- Loss = cost price – selling price
- Selling price = cost price – loss
- Cost price = selling price + loss
- Profit percentage and loss percentage
Profit percentage and loss percentage are always calculated on cost price unless otherwise stated.
In case of Profit
- Profit percentage= profit × 100
- Selling price = cost price + cost price × profit percentage
= cost price (100 + profit percentage)
- Cost price =100 × selling price
- Selling at same price
Assume a person vend two articles at the same price, one at a profit of x1%x1% and another at a profit of x2%.x2%. Then,
- Net profit percentage =100 (x1+x2) + 2x1x2200+x1+x2
Profit And Loss Formulas
Aspirants can view All Formulas Of Profit And Loss at the beneath section and advised to note it. Have a glance as soon as possible!!
- Gain = (S.P.) – (C.P.)
- Loss = (C.P.) – (S.P.)
- Loss or gain is always reckoned on C.P.
- Gain Percentage: (Gain %)
Gain %= Gain x 100
- Loss Percentage: (Loss %)
Loss % = Loss x 100
6. Selling Price: (S.P)
SP = (100 + Gain %) x C. P.
- Selling Price: (S.P.)
SP = (100 – Loss %) x C. P.
- Cost Price: (C.P.)
C.P. = 100 x S.P.
(100 + Gain %)
- Cost Price: (C.P.)
C.P. = 100 x S.P.
(100 – Loss %)
- If an article is sold at a gain of say 35%, then S.P. = 135% of C.P.
- If an article is sold at a loss of say, 35% then S.P. = 65% of C.P.
- When a person sells two similar items, one at a gain of say x%, and the other at a loss of x%, then the seller always incurs a loss given by:
Loss % = (Common Loss and Gain %) 2 = (X) 2
- If a trader professes to sell his goods at cost price, but uses false weights, then
Gain % = ( Error X 100) %
(True Value) – (Error)
Profit And Loss Formulas And Examples:
Here candidates can check Profit And Loss Aptitude Formulas and solved questions which can help them to understand the strategy behind the questions and how to use Profit And Loss Formulas, so what are you waiting for? Go ahead as soon as possible!!
Question 1: An article is purchased for Rs. 450 and sold for Rs. 500. Find the gain percent.
Gain = SP – CP = 500 – 450 = 50.
Gain% = (50/450)*100 = 100/9 %
Question 2: A man sold a fan for Rs. 465. Find the cost price if he incurred a loss of 7%.
CP = [100 / (100 – Loss %)] * SP
Therefore, the cost price of the fan = (100/93)*465 = Rs. 500
Question 3: In a transaction, the profit percentage is 80% of the cost. If the cost further increases by 20% but the selling price remain the same, how much is the decrease in profit percentage?
Let us assume CP = Rs. 100.
Then Profit = Rs. 80 and selling price = Rs. 180.
The cost increases by 20% → New CP = Rs. 120, SP = Rs. 180.
Profit % = 60/120 * 100 = 50%.
Therefore, Profit decreases by 30%.
Question 4: A man bought some toys at the rate of 10 for Rs. 40 and sold them at 8 for Rs. 35. Find his gain or loss percent.
Cost price of 10 toys = Rs. 40 → CP of 1 toy = Rs. 4.
Selling price of 8 toys = Rs. 35 → SP of 1 toy = Rs. 35/8
Therefore, Gain = 35/8 – 4 = 3/8.
Gain percent = (3/8)/4 * 100 = 9.375%
Question 5: The cost price of 10 pens is the same as the selling price of n pens. If there is a loss of 40%, approximately what is the value of n?
Let the price of each pen be Re. 1.
Then the cost price of n pens is Rs. n and
the selling price of n pens is Rs. 10.
Loss = n-10.
Loss of 40% → (loss/CP)*100 = 40
Therefore, [(n-10)/n]*100 = 40 → n = 17 (approx)
Do You Know: How to Prepare For Maths Exam
Question 6: A dishonest merchant sells his grocery using weights 15% less than the true weights and makes a profit of 20%. Find his total gain percentage.
Let us consider 1 kg of grocery bag. Its actual weight is 85% of 1000 gm = 850 gm.
Let the cost price of each gram be Re. 1. Then the CP of each bag = Rs. 850.
SP of 1 kg of bag = 120% of the true CP
Therefore, SP = 120/100 * 1000 = Rs. 1200
Gain = 1200 – 850 = 350
Hence Gain % = 350/850 * 100 = 41.17%
Question 7: A man bought two bicycles for Rs. 2500 each. If he sells one at a profit of 5%, then how much should he sell the other so that he makes a profit of 20% on the whole?
Before we start, it’s important to note here that it is not 15% to be added to 5% to make it a total of 20%.
Let the other profit percent be x.
Then, our equation looks like this.
105/100 * 2500 + [(100+x)/100] * 2500 = 120/100 * 5000 → x= 35.
Hence, if he makes a profit of 35% on the second, it comes to a total of 20% profit on the whole.
Question 8: A shopkeeper allows a discount of 10% on the marked price and still gains 17% on the whole. Find at what percent above the cost price he marked his goods.
Let the cost price be 100. Then SP = 117.
Let the marked price be x.
So, 90% of x = 117 → x = 130.
Therefore, he marked his goods 30% above the cost price.
Question 9: A shopkeeper offers a discount of 20% on the selling price. On a special sale day, he offers an extra 25% off coupon after the first discount. If the article was sold for Rs. 3600, find
- The marked price of the article and
- The cost price if the shopkeeper still makes a profit of 80% on the whole after all discounts is applied.
Let the marked price of the article be x.
First a 20% discount was offered, on which another 25% discount was offered.
So, 75% of 80% of x = 3600
75/100 * 80/100 * x = 3600 → x = 6000.
So the article was marked at Rs. 6000.
Cost price of the article = [100/ (100+80)]*3600 = Rs. 2000.
It is important to note here that this DOES NOT equal to a 45% discount on the whole. When different discounts are applied successively, they CANNOT be added.
Question 10. A shopkeeper sells some toys at Rs. 250 each. What percent profit does he make? To find the answer, which of the following information given in Statements I and II is/are necessary?
- Number of toys sold.
- Cost price of each toy.
S.P. = Rs. 250 each.
To find gain percent, we must know the C.P. of each.
So, Only II is necessary.
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