Profit and Loss Basics Of Aptitude Test: Cost Price : The price, at which an article is purchased, is called its cost price, abbreviated as C.P.
Selling Price : The price, at which an article is sold, is called its selling prices, abbreviated as S.P.
Profit or Gain : If S.P. is greater than C.P., the seller is said to have a profit or gain.
Loss : If S.P. is less than C.P., the seller is said to have incurred a loss.
Formula Used in Profit & Loss :
Gain = (S.P.) – (C.P.)
Loss = (C.P.) – (S.P.)
Loss or gain is always reckoned on C.P.
Gain Percentage (Gain %) = ( Gain X 100 / C.P. )
Loss Percentage (Loss %) = ( Loss X 100 / C.P. )
Selling Price: (S.P.) = [ ( 100 + Gain % ) /100 ] x C.P
Selling Price: (S.P.) = [ ( 100 - Loss % ) / 100 ] x C.P.
Cost Price: (C.P.) = [ 100 / (100 + Gain %) ] x S.P.
Cost Price: (C.P.) = [ 100 / (100 - Loss %) ] x S.P.
If an article is sold at a gain of say 35%, then S.P. = 135% of C.P.
If an article is sold at a loss of say, 35% then S.P. = 65% of C.P.
When a person sells two similar items, one at a gain of say x%, and the other at a loss of x%, then the seller always incurs a loss given by:
PL1
If a trader professes to sell his goods at cost price, but uses false weights, then
PL2
General Questions Profit & Loss
1 : The cost price of 20 articles is the same as the selling price of x articles. If the profit is 25%, then the value of x is:
A. 15 B. 16 C. 18 D. 25
Answers :
1-B
Selling Price : The price, at which an article is sold, is called its selling prices, abbreviated as S.P.
Profit or Gain : If S.P. is greater than C.P., the seller is said to have a profit or gain.
Loss : If S.P. is less than C.P., the seller is said to have incurred a loss.
Formula Used in Profit & Loss :
Gain = (S.P.) – (C.P.)
Loss = (C.P.) – (S.P.)
Loss or gain is always reckoned on C.P.
Gain Percentage (Gain %) = ( Gain X 100 / C.P. )
Loss Percentage (Loss %) = ( Loss X 100 / C.P. )
Selling Price: (S.P.) = [ ( 100 + Gain % ) /100 ] x C.P
Selling Price: (S.P.) = [ ( 100 - Loss % ) / 100 ] x C.P.
Cost Price: (C.P.) = [ 100 / (100 + Gain %) ] x S.P.
Cost Price: (C.P.) = [ 100 / (100 - Loss %) ] x S.P.
If an article is sold at a gain of say 35%, then S.P. = 135% of C.P.
If an article is sold at a loss of say, 35% then S.P. = 65% of C.P.
When a person sells two similar items, one at a gain of say x%, and the other at a loss of x%, then the seller always incurs a loss given by:
PL1
If a trader professes to sell his goods at cost price, but uses false weights, then
PL2
General Questions Profit & Loss
1 : The cost price of 20 articles is the same as the selling price of x articles. If the profit is 25%, then the value of x is:
A. 15 B. 16 C. 18 D. 25
Answers :
1-B
