www.indianstudyhub.com

Quantitative Aptitude :: Profit and Loss Formulas

Profit and Loss Questions and Answers

Awards and Honors
IBPS Model Paper
SBI Model Paper
Bank Exam Model Paper

IMPORTANT FACTS

1. Cost Price:
   The price, at which an article is purchased, is called its cost price, abbreviated as C.P.
2. Selling Price:
   The price, at which an article is sold, is called its selling prices, abbreviated as S.P.
3. Profit or Gain:
   If S.P. is greater than C.P., the seller is said to have a profit or gain.
4. Loss:
   If S.P. is less than C.P., the seller is said to have incurred a loss.
 

IMPORTANT FORMULAE

1. Gain = (S.P.) - (C.P.)
2. Loss = (C.P.) - (S.P.)
3. Loss or gain is always reckoned on C.P.
4. Gain Percentage: (Gain %)
       Gain % =[(Gain x 100)/C.P]
5. Loss Percentage: (Loss %)
       Loss % = [(Loss x 100)/C.P]
6. Selling Price: (S.P.)
       SP = {[(100 + Gain %)/100] x C.P}
7. Selling Price: (S.P.)
       SP = {[(100 - Loss %)/100] x C.P}
8. Cost Price: (C.P.)
       CP = {[100/(100 + Gain %)] x S.P}
9. Cost Price: (C.P.)
       CP = {[100/(100 - Loss %)] x S.P}
10. If an article is sold at a gain of say 35%, then S.P. = 135% of C.P.
11. If an article is sold at a loss of say, 35% then S.P. = 65% of C.P.
12. 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 %/10)2 = (x/10)2
13. If a trader professes to sell his goods at cost price, but uses false weights, then
        Gain % = [Error/(True Value) - (Error)    x 100]%.