Profit and Loss

Profit and loss topic is an important topic in Quantitative aptitude. the main aim of this article is to provide formulas, shortcuts and tricks to resolve the problems in upcoming exams.


          Profit and loss topic is totally based on CP (Cost Price ) and SP ( Selling Price). let's move to basics of the Profit and loss.


Cost Price(CP):  Cost Price is the amount of money at which the goods are purchased.




Selling Price(SP): Selling Price is the amount of money at which the goods are sold.




Profit/Gain:  SP is greater than the CP . (SP>CP)
                                
                              Profit/ Gain = SP-CP


                              Profit % = (Profit*100)/CP




Loss:  SP is lesser than the CP.(CP>SP)


                    Loss = CP-SP


                   Loss %= (Loss*100)/CP


Example:


If a man buys a mobile for 6400 Rs and sold it for 2500 Rs. Find his profit or gain.


Ans:       Here CP  = 6400
                        SP=  2500


                 CP>SP = Loss


                 Loss = CP-SP = 6400-2500 = 3900 Rs.


Example:


If a man buys a car for 260000Rs and sold it for 340000 Rs. Find his profit percentage.


Ans:              Profit SP-CP    =  340000- 260000  = 80000 Rs


                           Profit % = (Profit * 100 )/ CP
                                         =(80000*100)/260000
                                         =30.76%


Note:


1) If an article is sold at a gain of x% then the SP = ( 100+x)% CP.



2) If an article is sold at a loss of x% then the SP = ( 100-x)% CP


Example:
If a man buys a TV for 3500 and he sold it for 25% profit. What is his selling Price ?
Ans:                  Here CP = 3500
                                  Profit % = 25 %
                                  SP = 125 % of 3500
                                  SP= (125*3500)/100
                                   SP= 4375.















Example:
Raju purchased two books each at 1200 Rs and he sold one book at the loss of 5% and other at gain of 10% . Find the total gain or loss %.
Ans:    1st book                                         2nd Book
             CP1= 1200                                    CP2 = 1200
            LOSS % = 5                                  Profit % = 10 %
           SP1 = 95 % of CP1                             SP2 =110 % of CP2
           SP1 = (95*1200)/100                     SP2=(110*1200)/100
            SP1=1140                                      SP2=1320


          Total SP = SP1+SP2 = 1140+1320 = 2460
         Total CP = CP1+CP2=1200+1200=2400
                    SP>CP
               Profit = 2460-2400 = 60
          Profit % = (Profit*100)/CP
                         =(60*100)/2400
                         =2.5%






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