Profit and Loss|Basic concepts and formulae|aptitude|quantitative aptitude|rsaggarval|facts|tricks

IMPORTANT FACTS AND FORMULAE

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 price, abbreviated as SP
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 CP, the seller is said to have incurred a loss.

I. Gain =(S.P.) - (C.P.)

II. Loss =(C.P.) - (S.P.)

III. Loss or gain is always reckoned on C.P.

IV.Gain%=Gain x 100/C.P

V. Loss%=Loss x 100/C.P.

VI.S.P=(100+Gain%)/100 × CP.

VII. S.P.= (100-Loss%)/100 x C.P

VIII. C.P. =100/(100+Gain%) × SP

IX. C.P. = 100/(100 - Loss%) × SP

X. If an article is sold at a gain of say, 35%, then S.P.= 135% of C.P.

XI. If an article is sold at a loss of say, 35%, then S.P.= 65%. of CP.

XII. When a person sells two similar items, one at a gain of say, x%, and the other at a loss of x%, then be seller always incurs a loss given by:
          Loss%= (Common Loss and Gain% / 10)². =(x/10)²

XIII. If a trader professes to sell his goods at cost price, but uses false weights, then
         Gain% = [Error / {(True Value) - (Error) }  × 100 ]%

XIV. If a trader professes to sell his goods at a profit of x% but uses false weight which is y% less than the actual weight, then
           Gain % = {(x+y / 100 - y) ×100} %

XV. If a trader professes to sell his goods at a loss of x% but uses false weight which is y% less than the actual weight, then
          Gain or Loss % = {( y-x / 100 - y )×100} %

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