Profit and Loss Shortcut Tricks
Before going to chapter we are follow some important facts and formula without this we are not able to calculate any profit or loss on any articles using shortcut tricks. when we purchase some item and then sell it we make profit or loss some time it depends on the cost price and selling price of an particular item. This type of problem are given in Quantitative Aptitude which is a very essential paper in banking exam. Under below given some more example for your better practice.
Anything we learn in our school days was basics and that is well enough for passing our school exams. Now the time has come to learn for our competitive exams. For this we need our basics but also we have to learn something new. That’s where shortcut tricks are comes into action .
- C P ( Cost Price ):
The Price at which an particular item or article is purchased, is called its cost price or In short called C P. Cost price is amount of money goes out from us when purchase any article or any particular item.
- SP ( Selling Price ):
The price at which an particular item or article is sold, called its selling price or In short called SP.
Selling Price is a amount of money came in when selling by any thing.
- Profit or Gain:
If S.P ( Selling Price ) of an item is more than C.P ( Cost Price ), then vendor is said to have a profit or gain.
If S.P ( Selling Price ) of an item is less than C.P ( Cost Price ), the vendor said to have a loss.
- Marked Price :
When we purchase any item we saw the label on it as price or marked Price and that is said to be MP ( Marked Price ).
Some important formulas:
1. Selling price is more then cost price is called Gain.
Gain = (S.P) – (C.P)
15% Profit on item that means,
Cost price 100%
Selling Price 115%
2. If Cost price is more then Selling price is called Loss.
Loss = ( C.P ) – ( S.P )
15% Loss on article that means,
Cost price 100%
Selling Price 85%
3. Profit and Loss is always calculated on C.P ( Cost Price ).