Wednesday, 4 November 2015

Quick Formulas and shortcuts for Profit and loss

In every bank exam,at least 2-3 questions will be from  profit and loss section. By understanding few simple formulas and shortcuts you can easily score full mark from this section.Here we are sharing some important formulas and shortcut tricks to solve profit and loss problems faster.

Cost price(C.P)is the price at which a particular article is bought.
Selling price(S.P) is that price at which a particular item is sold.
Profit=S.P - C.P
Loss =C.P- S.P
 the profit or loss percentage is always calculated based on C.P

  • If P sold an article at a profit  R1% to Q.Q sold it to R at a profit of R2% and R sold it to S at a profit of R3%.Then money spent by S for buying article C.P of S = C.P of P * (1+ R1/100)(1+ R2/100)(1+ R3/100).

Example:A sells a radio to B at a gain of 10% and B sells to c at a gain of 5%.If C pays Rs.462 for it,what did it cost to A?
C.P of radio to C=C.P of radio to A * (1+10/100)(1+5/100)
=> 462=C.P  of radio to A * 110/100 *105/100
=>C.P of radio to A=(462*100*100)/(105*110)

  • if there are two successive profits (R1% and R2%) obtained on an article then total profit%=(R1+R2+ R1R2/100).

Example:A dishonest shopkeeper deceives by 15% at the time of purchase of article and also 15% at the time of sale.Find out the profit percentage
Profit%=15+15+(15*15 / 100)=30 + 225/100 =30+2.25=32.25%.

  • If a seller mark P% above costprice and gives a discount of Q%,the final Profit/loss %=P-Q-(PQ/100).

Example:A car costs a dealer Rs.50,000.Dealer raised price by  Rs.10,000 and then deducted 4% of new price.
What is the profit/loss %?
Ans: Let P be the percentage of price raised=(10000/500000) * 100 =20%
Discount %=4%
profit %=(20-4- 20*4/100 ) =15.2%

Read more IBPS Quantitative Aptitude Notes

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