## Profit and Loss Questions For All Government Exams

Profit and Loss is a topic that is definitely asked in every placement exam. While the questions are not too tricky, some require a deeper understanding of concepts, but most of them are based on certain well-known formulas.
• Cost Price (CP) : The price at which an article is purchased. This is the cost of the article incurred to the seller in buying the article for re-selling.
• Selling Price (SP) : The price at which the article is sold to the customer/buyer.
• Marked Price or List Price (MP) : The price mentioned on the article
• Profit or Gain (P) : The extra money that the seller gets on selling an article.
P = SP – CP
Profit percent = (P / CP) x 100
• Loss (L) : The less money a seller gets on selling an article.
L = CP – SP
Loss percent = (L / CP) x 100
• Discount (D) : The reduction in price offered by the seller is called discount.
D = MP – SP
Discount percent = (D / MP) x 100
• Profit or Loss is always calculated on the cost price. Discount is calculated on marked price or list price.
• If two articles are sold at the same selling price, one at a gain of A% and one at the loss of A%, then the seller always incurs a percentage loss of (A / 10)2.
• If a seller claims to sell at cost price but uses false weights, then
Profit percent = [ (True Value – Given Value) / Given Value ] x 100 %
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