- Definitions:-
Cost Price:- The price at which an article is bought is called
the Cost Price.
Selling Price:- The price at which an article is sold is called Selling Price.
Profit:- When the selling price exceeds cost price, the
difference between them is the Profit.
Loss:- When the cost price exceeds the selling price, the
difference between them is the Loss.
Market Price:- The price an article is written to be sold, is
called the Market Price of
that article.
- Formula:-
1. Profit = Selling
Price – Cost Price
2. Loss = Cost Price – Selling
Price
3. Percentage of Profit = (Total
Profit × 100 / Cost Price)
4. Percentage of Loss = (Total
Loss × 100 / Cost Price)
* In the following Cost Price
is abbreviated as C.P. and Selling Price as S.P.
a)
In case of
Profit:-
S.P. = {(100
+ Profit%) × C.P. / 100}
C.P. = {S.P ×
100 / (100 + Profit%)}
b) In case of Loss:-
S.P. = {(100 –
Loss%) × C.P. / 100}
C.P. = {100 ×
S.P. / (100 – Loss%}
- Usable Informations:-
A. After buying an article if there are some extra
costings such as transportation cost, rent etc. then these costings must be
included in the Cost Price.
B.
Discount or
Commission is always calculated on the Market Price.
Commission percent =
(Commission × 100 / Market Price)%
- Notable Tips Relating to Profit & Loss Problems:-
A. If the price of an article
1.
Increases x% first and then
decreases x%, then the overall price of the article will decrease = (x / 10)2
% = (x2 / 100)%
2.
The result of a% increase
and b% decrease = {(a - b) - ab / 100}% increase or decrease. [ increase for
the result ‘+’ and decrease for ‘-‘]
3.
First increase a% and then
decrease b%, the result = {(a + b) + ab / 100}% increase
4.
First decreases a%
and then again decreases b% = {(a + b) – ab / 100}% decrease
B.
Calculation of profit and loss on cost price and selling price:-
1. x% profit on cost price
= {x / (100 + x)}% profit on selling price
2. x% profit on selling
price = {x / (100 – x)}% profit on cost price
3. x% loss on selling
price = {x / (100 + x)}% loss on cost price
4. x% loss on cost price =
{x / (100 - x)}% loss on selling price
C.
When the cost price of ‘a’ number of articles is equal to the
selling price of ‘b’ number of articles:-
a)
if a > b then profit percent = {(a - b) × 100 / b}%
b) if a < b then loss
percent = {(b – a ) × 100 / b}%
D. If b% commission is given after increasing the cost price a% the
profit or loss = {(a - b) – ab / 100}% [Profit for ‘+’ and Loss for ‘-‘]
- E. At first a% and then b% commission is given on the market place, then the exact commission percent = {(a + b) – ab /100}%
Q. A man sells ‘a’ number of articles by unit place
at a loss of x%. How many articles will have to be bought by unit price so that
he can make a profit of y%?
Ans. {a × (100 – x) / (100 + y)}
Q. A man purchases ‘a’
number of articles by unit price at a profit of x%. How many articles will have
to be sold by unit price so that he faces loss of y%?
Ans. {a × (100 + x) /
(100 – y)}
Here in these videos some examples have been given to understand the things properly.
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