Tips & Tricks To Solve Profit & Loss Question pdf | Profit and Loss – Basic Concepts, Profit and Loss Problems I- Profit and Loss Formulas, Short Tricks for Profit, Loss and Discount Examples, Mixture and Alligation Methods shortcut tricks
The Profit & Loss is the important part of the Quantitative Aptitude Section for the Bank, SSC, RRB, SBI and others Competitive Exams. In this article we provide some important tips and tricks to solve the Profit & Loss Question. So the candidates who are going to take part in the Competitive Exams, they must read this article carefully. Here our team is providing Notes on Profit & Loss. Profit & Loss is very crucial topic for upcoming competitive examinations.Here we also Providing some concept clearing quiz for analyzing yourself.
Tips & Tricks To Solve Profit & Loss Examples
Profit & Loss:
Cost Price-The price at which an article is purchased is called its cost price (C.P.)
Selling Price-The price at which the article is sold is called its selling price (S.P.)
CP = Cost Price = The price at which an object is Purchased
SP = Selling Price = The price at which the object is Sold.
When SP < CP → Loss = CP – SP
When SP > CP → Profit = SP – CP
Note: Loss% and Profit% both are calculated upon CP
Profit% = [Profit/CP] * 100
Loss% = [Loss/CP] * 100
Example: – In terms of percentage profit, which is the best transaction?
C.P. (in Rs.) Profit (In Rs.)
Transaction (I) 36 17
Transaction(II) 50 24
Transaction(III) 40 19
Transaction(IV) 60 29
(1) I (2) II (3) III (4) IV
Questions: – Rajesh Purchased A watch for 1000 rs and then Sold it to Ramesh for 1250 rs. Calculate the Profit and Profit %?
SO C.P = 1000rs
And then he sells it at 1250Rs
So SP = 1250Rs
Now Profit as I told is nothing but SP – CP So profit = 1250-1000 = 250rs
Now Profit % = [(Profit)/CP*100] So profit % = [(250/1000)*100] = 25%
Questions: – Rajasn again sells an article for 1200 rs but this time he suffers a loss of 20%. What will be the C.P?
Now just Take Cost Price = x
So as i Told S.P will be ? yeah 0.8x ( As i said add in case of profit and subtract in case of loss) and according to the question SP = 1200rs
So 0.8x = 1200
x = 1200/0.8 = 1500 rs
So C.P is 1500 rs.
Question: – Rohit purchases 11 oranges for 10 Rupees and Sells 10 oranges for 11 Rupees. Find profit or loss%?
1st- Basic method.
Find the C.P of 1 orange that will be 10/11
Find SP of 1 orange that will be 11/10
As it’s clear SP>CP hence Profit will be SP-CP = 11/10 – 10/11 = (121 – 100)/110 = 21/110
Profit % = [(profit)/CP]*100 = [(21/110)/(10/11)*100] = [(21*11)/(110*10)*100 = 21%
2nd- LCM method.
Take The LCM The two numbers present in the Question i.e LCM of 10 and 11 = 110.
Now this Is the Amount Of oranges you will buy and sell and calculate the profit % on that.
So CP of 110 Oranges = 100rs
S.P of 110 Oranges = 121rs
Profit = 21Rs
Profit % = 21% [ calculates on the CP of 110 Oranges]
3rd – Quick Method
Write The Purchase line 1st — 11 oranges for 10
Selling Line 2nd 10 oranges for 11
11*11 will be SP and 10*10 will Be CP
Profit % = (11*11 – 10*10)/(10*10)*100 = 21%
Example: – Dishonest dealer using false Weight and selling at Cost price.
A Dishonest dealer Professes to Sell the product at cost price but Instead of Selling 1000 Grams. He sells only 900 Grams for 1 Kilogram Wt
You don’t need any Formula to Solve This Type of Question. You just have to use your own Mind here.
Now Look what the dealer is actually Doing here.
Dealer says He sell at Cost price Means He say He Sells at the price he purchases.
Now What amount He says He Sells = 1000 Grams
What Actually He Sells = 900 Grams
Now you can See here he is only selling 900 Grams and he is getting the money for 1000 Grams
So this money from 100 Grams is His Profit OK.
Now how we calculate profit % ? We take CP as Base and Divide the Profit by CP.
Now look in this Question he is Selling 900 Gram and getting 100gram As profit.
So profit % will be (100/900)*100 = 11.11%
Example: – A man purchases 10 Cows at Rs. 3000 each. 1 Cow died. He sold 2 Cows at 5% loss, at what rate he should sale the remaining Cows, so as to gain a Profit of 10 % on the total Cost?
- A) Rs.4000
- B) Rs.3000
- C) Rs.3900
- D) Rs. 4500
- E) Rs. 4200
Selling Price With Profit of 10 % of total cost = 3000*10*110/100= 33000
Selling Price of 2 cows with 5% loss= 6000*95/100= 5700
Difference = 33000-5700= 27300;
So rate of the cows for selling to gain 10% profit on total = 27300/7= Rs. 3900
(because 1 cow died so remaining= 10-1-2=7)
Quantitative Aptitude Exam Syllabus pdf 2022
- Sequence & Series.
- Number Systems.
- Profit & Loss.
- Simple Interest & Compound Interest
- Data Interpretation.
- Time & Distance & Speed
HOW TO SOLVE MIXTURE AND ALLIGATION Type Questions
It enables us to find the ratio in which two or more ingredients at the given price must be mixed to produce a mixture of desired price.
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