Tricks To Solve Profit & Loss Problems

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Tricks To Solve Profit & Loss Problems

Profit & Loss is a basic concept of arithmetic in which we study the gain or loss in a business transaction.Profit & loss are the terms related to transactions in trade & business.Whenever a purchase article is sold, then either profit is earned or loss is incurred.This topic teaches us how to calculate such profit & loss.

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Cost Price (CP): The price at which an article is purchased.

Selling Price (SP): The Price at which an article is sold.

Marked Price (MP) or List Price: The price that is indicated or marked on the article.It is sometimes also referred to as label price.

Discount: It is reduction offered on the marked price.

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Profit = SP – CP

Profit % = (Profit/CP) * 100

SP = [(100 + Profit %)/100] * CP

Loss = CP – SP

Loss % = (Loss/CP) * 100

SP = [(100 – Loss %)/100] * CP

Few Basic Concepts:

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  • When there are 2 successive profit of x% and y%, then the resultant profit percent is given by:  

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  • If there is a profit of x% and loss of y% in a transaction, then the resultant profit or loss % is given by:

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  • If CP of ‘m’ articles is equal to SP of ‘n’ articles, then Profit % is given by:

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  • A single discount equivalent to discount series of x% and y% given by the seller is equal to:

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  • If a seller marks his goods at x% above his CP and allows purchasers a discount of y% for cash, then overall profit or loss will be:

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  • If a trader professes to sell his goods at CP, but uses false weights,then:

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