Profit And Loss Tips & Tricks

Profit And Loss Tips & Tricks

C P( Cost Price ):
The Price at which an article is purchased, is called its cost price or In shot called C P.
Cost price is amount of money goes out from us when purchase any article.

SP( Selling Price ):
The price at which an article is sold, called its selling price or In short called SP.
Selling Price is a amount of money came in when selling by any thing.
Profit or Gain:
If S.P. is greater than C.P, then seller is said to have a profit or gain.

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

Marked Price :
When we purchase any item we saw the label price or marked Price or listed Price and denoted by MP.

Some important formulas:

1.Selling price is greater then cost price is called Gain.
Gain = (S.P) – (C.P)
15% Profit on article that means,
Cost price 100%
Selling Price 115%
Profit 15%

2.If Cost price is  greater then Selling price is called Loss.
Loss = (C.P) – (S.P)
15% Loss on article that means,
Cost price 100%
Selling Price 85%
Loss 15%

3.Profit and Loss is always calculated on C.P ( Cost Price )

 

Profit or Gain percent Shortcut tricks

FORMULA: GAIN % = (GAIN X 100/C.P)

Example 1 : Rana purchase an ball for Rs.80 and sells it for Rs. 1000. Find his gain percent.
 

Answer: C.P = 80 and S.P = 100.
Gain= 100 – 80 = 20
Gain % = 20 x 100/80 = 25%

Example 2 : A farmer purchase an article for Rs.25 and sells it for Rs. 28. Find his gain percent.
 

Answer: C.P = 25 and S.P = 28.
Gain= 28 – 25 = 3
Gain % = 3 x 100/25 = 12%

 

Loss percent Shortcut tricks

FORMULA: LOSS% = (LOSS X 100/C.P)

Example  1 :
10% loss on selling price is what percent loss on the cost price ?
 

Answer :
consider selling price be = Rs.100, Then loss = Rs.10
Cost price = Rs.( 100 + 10 ) = 110
So, loss% = (10 / 110 x 100 ) = 100 / 11 %

Example  2 :
A man purchased a toy for Rs. 120 and sold it for Rs. 90, Find the loss Percent.
 

Answer :
C.P = 120 and S.P =90
So We Know the formula of Loss = C. P – S.P . Loss = (120 – 90) = 30
%Loss = 30 x 100/120 = 25%

 

Find selling Price Profit and Loss Shortcut tricks

FORMULA: S.P = (100+GAIN%)/100 X C.P.

Q:We can find the Selling Price of article Using this above Formula
If C.P of a product is a Rs. 180 , Gain = 30%, then Find the S.P.
 

A: S.P = ?
S.P = 130% of Rs. 180, Gain = (100+30) = 130, (130/100 x 180) = Rs.234
So Selling Price is Rs. 234

Shortcut Tricks
130/100 x 180 = 234

FORMULA: S.P = (100 – LOSS%)/100 X C.P

Q: If C.P of a product is a Rs. 180 , Loss = 30%, then Find the S.P.
 

A: S.P. = ?
S.P = 70% of Rs. 180, Loss = (100 – 30) = 70, ( 70/100 x 180 ) = Rs. 126
So the Selling Price is Rs. 126

Shortcut Tricks
70/100 x 180 = 126

Example :

Rajan bought a bike for Rs.60,000 and spent Rs. 4000 on repair and Rs. 1000 on transport and sold it with 25% profit. What price did he sell the car ?

Solution:

Cost price =Rs. 60,000 Spent on repair =Rs. 4000 transport =Rs. 1000 and profit 25%

So, Cost price =Rs.( 60,000 + 4000 + 1000 ) = Rs. 65,000

So, Selling price = Rs. 65,000 x 125 / 100 = 81250.

 

Find cost price Profit and Loss Shortcut tricks

FORMULA: C.P =100 X S.P/(100+GAIN%).

Example1:If S.P of a article is Rs. 240 then Gain 20%, Find the C.P.
 

Answer: C.P.= ?
C.P . = 100 x 240 / ( 100+20 )
=24000/120 = 200
C.P. = 200
shortcut Tricks:
100 x 240/( 120 ) = 200

FORMULA: C.P = 100 X S.P/(100 – LOSS%).

Example2:If S.P of a article is Rs. 240 then Loss 20%, Find the C.P.
 

Answer: C.P. = ?
C.P. = 100 x 240 / ( 100 – 20 )
= 24000/80 = 300
shortcut Tricks
100 x 240 / 80 = 300