SEP16 – Profit and Loss

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    Today, We are going to take a test on Problems based on Profit and Loss.

    Before you take the test read these posts to be comfortable.

    Shortcuts and Tips for Profit and Loss Problems  

    Important Formulae

    Cost Price-The price at which an article is purchased is known as cost price(C.P.)
    Selling Price-The price at which the article is sold is known as selling price(S.P.)
    These questions deals with Selling Price(P), And Cost price(CP). When selling
    price is greater than cost price then profit And when cost price is greater than
    selling price then loss.
    Profit = SP-CP (SP>CP)
    Loss = CP-SP (CP>SP)
    Profit and loss questions are very easy to solve. Following formulae should be
    kept in mind while solving profit loss questions in bank exams.
    Profit % = (Profit x 100)/CP
    CP= {100 /(100+profit%)} x SP
    CP={100/(100-loss%)} x SP
    If there is a Profit of x% and loss of y % in a transaction, then the resultant profit or loss% is given by

    [x – y – (x × y/100)]

    Note- For profit use sign + in previous formula and for loss use – sign.
    if resultant is positive then overall its profit. However, if it is negative then overall
    we have a loss.
    If a cost price of m articles is equal to the selling Price of n articles,
    (C.P of m article = S.P. of n article) then Profit percentage
    (m – n)/n×100%

    If m parts are sold at x% profit , n parts are sold at y % profit and p parts are sold
    at z% profit Rs. ‘R’ are earned as overall profit then the value of total consignment
    R ×100 / (mx +ny +pz)

    A man purchases a certain no. of article at m rupee and the same no. at n a
    rupee. He mixes them together and sells them at p a rupee then his gain or loss
    [{2mn/(m+n)p} -1]× 100
    Marked price = Cost price + Markup
    Always Remember: Markup is extra price on Cost Price. So, Markup is always
    calculated on CP
    %Markup = [Markup/CP]*100

    Discount (if SP < MP) = MP – SP i.e. SP = MP – Discount
    Always Remember: Discount is deducted from Marked Price. So, Discount is
    always calculated on MP and
    %Discount = [Discount/MP]*100