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.
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BODMAS is an acronym and it stands for Bracket, Of, Division, Multiplication, Addition and Subtraction. .
This explains the order of operations to solve an expression. According to Bodmas rule, if an expression contains brackets ((), {}, []) we have to first solve/simplify the bracket followed by of (powers and roots etc.), then division , multiplication , addition and subtraction from left to right. .
Example :.
7 + (6 × 52 + 3) = 7 + (6 × 25 + 3).
7 + (150 + 3).
7 + (153).
7 + 153 .
Ans: 160. .
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The quickest way to calculate percentages is to multiply numbers first and handle two decimal places later.
For example, 20% of 70 is 20 x 70 = 1400, so the answer is 14. .
70% of 20 is also 14.
To calculate the percentage of 72 or 29, then round up and down to the nearest multiple (70 and 30 respectively) to get a quick approx result.
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