Profit and Loss Formulas and Tips

Profit and loss is the one of major question section in Competitive exams. These formulas will be helpful for your upcoming Exams like PSC, SSC, IBPS and Other Competitive 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:

1. The cost price of 40 apples is the same as the selling price of 25 apples. Find the gain percent.

Answer:

=(40-25)/25×100

=15/25×100=60%.

2. A Table was purchased for Rs. 470 and sold at a profit of 10%. Find the selling price.

Answer:

=(100+10)/100 X 470

=517.

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Profit and Loss Formulas and Tips