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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 %
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