Click Here to Get India's Most Affordable Premium Practice Sets

Wednesday, 24 April 2019

Profit and Loss Questions For All Government Exams

 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 %
Click to Join Our Telegram Channel

No comments:

Post a Comment

Get Now