Profit and Lose Problems

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Profit and Lose Tips and Tricks

If the selling price of a product is more than the cost price, there will be profit in the deal. If the selling price of a product is less than the cost price, the seller will incur a loss

profit and lose tips and tricks

Cost Price: The price, at which an article is purchased, is called its cost price, abbreviated as C.P.

Selling Price: The price, at which an article is sold, is called its selling prices, abbreviated as S.P.

Profit or Gain: If S.P. is greater than C.P., the seller is said to have a profit or gain.

Loss: If S.P. is less than C.P., the seller is said to have incurred a loss.

profit and lose tips and tricks

Important Profit and Lose Formula

  • Gain = (S.P.) - (C.P.)
  • Loss = (C.P.) - (S.P.)
  • Loss or gain is always reckoned on C.P.
  • Gain Percentage: (Gain %)= Gain x 100/C.P
  • Loss Percentage: (Loss %) = Loss x 100/C.P
  • 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 say x%. then the seller always incurs a loss given by:
    Loss% = (x/10)2
  • If a seller sells his goods at cost price but uses false weights, then
    Gain% = [Error/(True value - Error) * 100]%
  • S.P = (100+ Gain %) /100 * (C.P)
  • S.P = (100-Loss %) / 100 * (C.P)
  • C.P = 100 / (100 + Gain %)* (S.P)
  • C.P = 100 / (100-Loss %)* (S.P)

Rule: If a grocer sells its goods at cost price, but uses a false weigt instead of true weight. Then Gain percentage will be

Formula

% Gain = (True Weight - False Weight) / False Weight X 100

Rule: If a shopkeeper sells his goods at x % loss on cost price but uses y gm instead of z gm, then his % profit is

Formula

% profit is : [100+X]* Z/Y - 100

Rule: If a shopkeeper sells his goods at x % gain on cost price but uses y gm instead of z gm, then his % lose is

Formula

% lose is : [100-X]* Z/Y - 100

Rule: If a businessman marks his goods at x % above his cost prie and allowed purchasers a discount of y % for cash, then % proft or % loss according to + ve or - ve sign is will be

Formula

[X-Y-XY/100]%

Profit and Lose Tricks

  • Profit = (S.P.) > (C.P.)
  • Loss = (S.P.) < (C.P.)
  • If profit earned by selling an article is 25 %, then S.P. = 125% of C.P
  • If an article is sold at a loss of 30 %, then S.P. = 70 % of C.P.
  • C.P. of X = S.P. of Y

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