Profit and loss is the one of major question section in PSC exams.
Cost Price(CP) : The Price at which a particular item purchased, is called its Cost Price.
Selling Price (SP) : The price at which a particular item is sold, called its Selling Price.
Profit : If Selling Price of an item is more than Cost Price , then vendor is said to have a Profit.
Loss : if Selling Price of an item is less than Cost Price, the vendor said to have a Loss.
Formulas
Profit = SP – CP
Profit % = Profit/(CP)×100
SP = ((100+Profit%)/100)×CP
CP = (100/(100+Profit%))×SP
Loss = CP – SP
Loss% = Loss/(CP)×100
SP = ((100-Loss%)/100)×CP
CP = (100/(100-Loss%))×SP
Examples:
- The cost price of 40 Oranges is the same as the selling price of 25 Oranges. Find the gain percent.
Answer:
=(40-25)/25×100
=15/25×100=60%.
- A Chair was purchased for Rs. 400 and sold at a profit of 10%. Find the selling price.
Answer:
=(100+10)/100 X 400
=440
