TOP 10 Important Shortcuts on Profit And Loss Problems for SBI Clerk / IBPS Exams 2017:
Dear Readers, Here we have given the TOP 10 Important Shortcuts on Profit and Loss Problems, candidates those who are preparing for the upcoming SBI Clerk/IBPS Exams 2017 can make use of it.
Basic Concept of Profit and Loss:
Cost Price (CP) –> Price at which an article is Purchase
Marked Price (MP) –> Price written on the article/MRP
Selling Price (SP) –> Price at which an article is sold
Profit –> SP> CP Profit = SP – CP
Loss –> CP> SP Loss = CP – SP
Profit% or Gain % –> Profit /CP ×100% = SP – CP / CP ×100%
Loss% –> Loss/CP ×100% = CP – SP / CP×100%
Rule of Fraction:
The gain of x% –> Calculate figure –> 100& 100 + x
The loss of x% –> Calculate figure –> 100& 100 – x
(A) If CP = 50, Gain % = 5 then SP = ?
Calculate figure –> 100& 105
SP = 50 ×105/100 = 52.5
(B) If CP = 50, loss % = 5 then SP = ?
Calculate figure –> 100& 95
SP = 50 × 95/100 = 47.5
If two articles are sold- first article at x% profit and the second article at y% loss, thus making no profit, no loss in the transaction,
Then cost price of the two articles are in the ratio y : x
Proof:Let cost price of two articles is Rs.a and Rs.b respectively.
Then profit on the first article = ax/100 and loss on the second article = by/100
There is no profit or no loss in the bargain. –> ax/100 = by/100 –> ax=by –> a/b = y/x
1) A man purchased two articles for total cost of Rs.9000. He sold the first article at 15% profit and the second at 12% loss. In the bargain, he neither gained nor lost anything. Find cost price of the first article.
a) Rs. 4000 b) Rs.4500 c) Rs.5000 d) Rs.5500
Ratio of cost price of the first and the second article = 12 : 15 = 4: 5
Cost price of the first article = 4/9 ×9000 = Rs.4000
On selling an article for Rs.x, a person earns a% profit. In order to earn b% profit, he must sell the article for Rs.x ×(100+b) / (100+a),
i.e. New selling price = (Old selling price × (100 + Desired profit (in%))/ (100+ Initial profit (in%))
1) On selling an article for Rs.550, a man gains 10%. What should be the selling price, if desired profit is 20%?
a) Rs.500 b) Rs.600 c) Rs.660 d) Rs.715
SP= 550×(100 + 20 / 100 +15)
= 550 × 120/110 = Rs.600
2) Ram sold a cow for Rs.136 and thus lost 15%. At what price he should have sold it to gain 15%?
a) Rs.180 b) Rs.150 c) Rs.200 d) Rs.184
New selling price = 136 × (100+15)/(100-15)
= 136 × 115/85 = Rs.184
1) Shopkeeper buys 25 tables and 10 chairs for Rs. 7000 sells, table at 10%, chair at 12% profit. If he gets 7740 find CP of table and chair?
(If Both Increase by 10% then overall increment will be10% i.e. 10% of 7000/- which is Rs.700. But profit = 740. This extra 40/- is due to 2% of chair)
2% Chair –> 40/-
100% C(10) –> 2000
1 chair = 2000/10 = 200
So all table (25) = 5000/-
1 table = 5000/25 = 200/-
If price of an article is marked x% above the cost price and x% discount is allowed on its marked price, thenlosspercent = x2/100
1) A shopkeeper mark price of his article 12% above the cost Price and then allows 12% discount on the mark price. What is his loss percent?
a) 0% b) 1% c) 1.44% d) 2.4%
Loss% = 122/100 = 1.44%
If two articles are sold for the same selling price. On selling first article, a man gains x% and on selling the other article he loss x%, in such casesthere will be always loss, and Loss% = x2/100 or (Common gain and loss)2/100
1) A TV manufacturer sells two televisions at Rs.9900 each. He earned a profit of 10% on the first one and suffered 10% loss on another. His net profit or loss percent is?
a) 1% loss b) 1% gain c) 2% loss d) No profit/loss
Loss% = (Common gain and loss)2/100
= 102/100 = 1%
If two articles are sold for the same selling price. On selling the first, the gain is x% and on selling the second the gain is y%, then net % profit
= (2× (100+x) (100+y)/ (100+x) + (100+y)) – 100
1) A man sold two articles for Rs.600 each. On selling first, he gains 20% and on the other, he gains 30%. What is profit percent in the transaction?
a) 24.8% b) 25% c) 50% d) 56%
Profit% = (2×120×130 / 120+130)-100 = 24.8%
1) A shopkeeper buys 2 chair at total cost 900/-. By selling one at 4/5 of its cost and other at 5/4 of its cost he made a profit 90/-. Find CP of each chair
4/5 = 80% i.e.20%loss
5/4 = 125% i.e = 25% profit
Profit = 90/- i.e 10% (90 is 10% of 900)
i.e Ratio of their CP = 15 : 30 = 1:2
1stchair = Rs. 300, 2nd chair = Rs. 600/-
1) A man purchase 11 orange for Rs.10/- and sell them at the rate of 10 oranges for Rs.11/. Find profit?
Profit = (11×11 – 10×10 / 10×10)×100%
1) Selling price of two articles 4000/- each. First article sold at profit of 25% profit and 2nd article at some % loss. Find loss % on 2ndarticle if there is neither loss nor gain.
1) How much % more than CP must a shopkeeper mark his goods to gain 26% after giving a discount of 10%
Difference =140 -100 =40%
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