Profit and Loss Tips and Tricks for Government Exams

Theory

• We try to provide all types of shortcut tricks on profit and loss here. Visitors please read carefully all shortcut examples. These examples here will help you to better understand profit and loss.
• Before doing anything we recommend you to do a math practice set. Choose any twenty math problems and write it down on a page. Using basic math formula do first ten maths of that page. You also need to keep track of the time. After solving all ten math questions write down total time taken by you to solve those questions. Now read our examples on profit and loss shortcut tricks and practice few questions. After finishing this do remaining questions using profit and loss shortcut tricks. Again keep track of Timing. This time you will surely see improvement in your timing. But this is not all you need. If you need to improve your timing more then you need to practice more.
  

Tips

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.
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.

• Cost Price or CP
  The Price at which a particular item or article is purchased, is called its Cost Price or in short called CP. Cost price is amount of money goes out from us when purchase any article or any particular item.
• Selling Price or SP
  The price at which a 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 Selling Price or SP of an item is more than Cost Price or CP, then vendor is said to have a Profit or Gain.

• Loss
  If Selling Price or SP of an item is less than Cost Price or CP, 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 Marked Price or MP.

Formula

• If Selling Price is more than Cost Price then it is called Profit or Gain.
  Gain = SP – CP
  15% Profit on an item means,
  Cost price = 100%
  Selling price = 115%
  Profit = 15%
• If Cost Price is more than Selling Price then it is called Loss.
  Loss = CP – SP
  15% Loss on an item means,
  Cost price = 100%
  Selling price = 85%
  Loss = 15%
• Profit and Loss is always calculated on Cost Price or CP.

Solved Examples