Profit and Loss Notes Tricks Shortcuts

There is an important topic for the bank job is “Profit & Loss” .Some are the necessary terms and  important formulae related from this subject.Also see the proper examples with explanations. Candidates preparing for IBPS bank exam (Clerk,PO,SO) can also download these “must have notes” in the PDF format.

Profit and Loss Study Notes

Contents

What is Cost Price(C.P.)

Price at which goods are or have been been brought.

What is Selling Price(S.P.)

Price at which goods are sold.

Profit

S.P. is greater than C.P. then said to be profit.

Loss

S.P. is less than C.P. then said to be loss.

Formulae

1. Profit or Gain=(S.P.)-(C.P.)
2. Loss = (C.P.)-(S.P.)
3. Loss or gain calculated through C.P.
4. Gain %=($\frac { Gain*100 }{ C.P. }$ )
5. Loss %=($\frac{Loss*100}{C.P.}$)
6. S.P.=(100+ Gain%)100*C.P.
7. S.P.=(100-Loss%)100*C.P.
8. C.P.=(100100+Gain%)*S.P.
9. C.P.=(100100-Loss%)*S.P.
10. If item sold at a gain of say 35% then S.P.=135% of C.P.
11. If item sold at a loss of say 35% then S.P.=65% of C.P.
12. When a person sells two things,one is x% profit and other is x% loss then seller gives a loss       Loss%=($\frac{Common Loss and Gain}{10})$^2

Question 1:A vendor bought toffees at 6 for a rupee. How many for a rupee must he sell to gain 20%?

Question 2:On selling 17 balls at Rs. 720, there is a loss equal to the cost price of 5 balls. The cost price of a ball is: