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PROFIT AND LOSS

CONCEPT VIDEO:
https://www.youtube.com/watch?v=Fb3zopkNjb0&t=58s

https://www.youtube.com/watch?v=UYbMb17Mgtk

https://www.youtube.com/watch?v=1bCiqL86sB0

Profit and Loss Formulas

Important Points to Remember:


Cost Price:
The price, at which an article is purchased, is called its cost price, abbreviated as C.P.
Selling Price:
The price, at which an article is sold, is called its selling prices, abbreviated as S.P.
Profit or Gain:
If S.P. is greater than C.P., the seller is said to have a profit or gain.
Loss:
If S.P. is less than C.P., the seller is said to have incurred a loss.
IMPORTANT FORMULAE
1. Gain = (S.P.) – (C.P.)
2. Loss = (C.P.) – (S.P.)
3. Loss or gain is always reckoned on C.P.
4. Gain Percentage: (Gain %)

Gain % =
5. Loss Percentage: (Loss %)

Loss % =
6. Selling Price: (S.P.)

SP =
7. Selling Price: (S.P.)

SP =
8. Cost Price: (C.P.)

C.P. =
9. Cost Price: (C.P.)

C.P. =
10. If an article is sold at a gain of say 35%, then S.P. = 135% of C.P.
11. If an article is sold at a loss of say, 35% then S.P. = 65% of C.P.
12. When a person sells two similar items, one at a gain of say x%, and the other at a loss of x%, then the seller
always incurs a loss given by:
Basic Concept of Profit and Loss with examples

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
Example:
(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

Type 1:
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

Example:
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
Solution:
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

Type 2:
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%))

Example:
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
Solution:
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
Solution:
New selling price = 136 × (100+15)/(100-15)
= 136 × 115/85 = Rs.184
Type 3:
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?
Solution:

(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/-

Type 4:
If price of an article is marked x% above the cost price and x% discount is allowed on its marked
price, thenlosspercent = x2/100
Example:
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%
Solution:
Loss% = 122/100 = 1.44%

Type 5:
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
Example:
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
Solution:
Loss% = (Common gain and loss)2/100
= 102/100 = 1%

Type 6:
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
Example:
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%
Solution:
Profit% = (2×120×130 / 120+130)-100 = 24.8%

Type 7:
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
Solution:
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/-

Type 8:
1) A man purchase 11 orange for Rs.10/- and sell them at the rate of 10 oranges for
Rs.11/. Find profit?
Solution:

Profit = (11×11 – 10×10 / 10×10)×100%


= 21%

Type 9:
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.
Solution:

Type 10:
1) How much % more than CP must a shopkeeper mark his goods to gain 26% after
giving a discount of 10%
Solution:
=100×126/100×100/90
=140
Difference =140 -100 =40%

More Useful Shortcuts on Profit and Loss:

1). Cost price of 20 article is equal to the selling price of 18 article, then profit %
PROFIT = DIFFERENCE /SP *100 =2/18*100 =100/9 =11 1/9%

2). Nick sold a machine to Sonia at a profit of 30% and Sonia sold it to varun at 20%loss. If nick
get the machine for 5000 then what is the cost price of machine at varun
PERCENTAGE EFFICIENCY = (+30-20 *(+30*-20 /100) =4%
5000 -100 ; 104- 5200
Cp of varun =5200

3). If a shopkeeper sells goods 6%loss on cost price but gives 14 g instead of 16g. What is his
percentage of profit or loss?
A=6% , c=16g b=14g
FORMULA = [(100-A) (C/B)-100] %
= 94 *(16/14) -100 % =52/7% gain

4). A dealer sold at 20% loss on cost price but uses 40% less weight. What is his percentage of
profit or loss?

FORMULA =B±A / (100-B)


= 40 -20 / (100 -40)
= 20/60=2/6*100%
= 33 1/3 % profit

5). If 2/3 of article sold at 30% profit 1/4 of part at 16%, profit and remaining part of 12%
Profit finally, there is a profit of rs.75,then the cost price of the article

A=2/3 ,x=30%, b=1/4, y =16% , z =12%,R=75


C= 1-(1/2+3/4) =1/12

COST PRICE OF ARTICLE =R*100 / (AX +BY+CZ)


= (75*100) / ((2/3*30)(1/4*16) (1/12*12)
=7500/25 =300

6). A bought a certain quantity of oranges at a total cost of 1200. He sold 1/3 of those oranges at
20% loss. If A earns an overall profit of 10%, At what percentage profit did A sell the rest of the
oranges?

Sol:-
1/3 of oranges sold, Remaining we have 2/3 of oranges. So,
1/3:2/3=>1:2. Final ratio is 1:2
He sold 1/3 of those oranges at 20% loss and overall profit of 10%, so we using mixture allegation
method,

X-110/30=1/2
We solve these, we get X=125
So A sell the rest of the oranges at 25% profit.

7). If a shopkeeper sells an item for 1410, his loss is 6%. To earn a profit of 15% he should sell it
for?

Sol:(100-loss)/sp1=(100+gain)/sp2
=>94/1410=115/x
=>94x=115*1410
=>x=1725

8). By selling 25% of a quantity of sugar a person earns 40% profit, While on the remaining
quantity he incurs a loss of 20%. Find the overall profit/loss percentage.

Sol:
Profit/loss%= (25/100)*40% +(75/100)*(-20%)
=>(1/4) *40% +(3/4)*(-20%)
=>10%+(-15%)
=> (-5%)
So, 5% loss. (‘-‘ symbol denotes a loss)

ROBLEMS
1) A man buys a cycle for Rs.1400 and sells it at a loss of 15%. What is the selling
price of the cycle?
2) When a commodity is sold for Rs.34.80. there is a loss of 25%. What is the cost
price of the commodity?
3) Sam purchased 20 dozens of toys at the rate of Rs.375 per dozen. He sold each one
of them at the rate of Rs.33. What was his percentage profit?
4) A fruit seller sells mangoes at the rate of Rs.9 per kg and thereby loses 20%. At
what price per kg, he should have sold them to make a profit of 5%?
5) A shopkeeper give 12% additional discount on the discounted price, after giving an
initial discount of 20% on the labeled price of a radio. If the final sale price of the
radio is Rs.704, then what is its labeled price?
6) A man sells two flats at the rate of Rs.1.995 lakhs each. On one he gains 5% and on
the other, he loses 5%. His gain or loss percent in the whole transaction is
7) Peter purchased a machine for Rs.80,000 and spent Rs.5000 on repair and Rs.1000
on transport and sold it with 25% profit. At what price did he sell themachine?
8) A shopkeeper expects a gain of 22 ½% on his cost price. If in a week, his sale was
of Rs.392, what was his profit?
9) By selling a pen for Rs.15, a man loses one sixteenth of what it costs him. The cost
price of the pen is
10) A shopkeeper professes to sell his goods at cost price but uses a weight of 800 g m
instead of kilogram weight. Thus, he make a profit of
11) Samant bought a microwave oven and paid 10% less than the original price. He sold
it with 30% profit on the price he had paid. What percentage of profit did Samant
earn on the original price?
12) If a man reduces the selling price of a fan from Rs.400 to Rs.380, his loss increases
by 2%. The cost price of the fan is
13) A shopkeeper fixes the marked price of an item 35% above its cost price. The
percentage of discount allowed to gain 8% is
14) Kunal bought a suitcase with 15% discount on the labeled price. He sold the
suitcase for Rs.2880 with 20% profit on the labeled price. At what price did he buy
the suitcase?
15) I gain 70 paise on Rs.70. My gain percent is
16) A book was sold for Rs.27.50 with a profit of 10%. If it were sold for Rs.25.75, then
what would have been the percentage of profit or loss?
17) A shopkeeper buys 100 eggs at Rs.1.20 per piece. Unfortunately 4 eggs got spoiled
during transportation. The shopkeeper sells the remaining eggs at Rs.15 a dozen.
Find his profit or loss?
18) Find the cost price of an article which is sold for Rs.220 at a loss of 12%
19) If the cost price of an article is Rs.300 and the percent markup is 20%. What is the
marked price?
20) By selling 18 chocolates, a vendor loses the selling price of 2 chocolates. Find his
loss percent?
21) A dealer by selling 12 oranges gets the cost price of 15 oranges. What is the
percentage profit?
22) If the cost price of 15 apples, is same as the selling price of 20 apples. What is the
gain or loss percent?
23) The CP of 21 articles is equal to SP of 18 articles. Find the gain or loss percent?
24) Find the single discount equivalent to a series discount of 20%, 10% and 5%.
25) A vendor bought bananas at 6 for Rs.10 and sold them at 4 for Rs.6. Find his gain or
loss percent?
26) A dealer sold three-fourth of his articles at a gain of 20% and the remaining at cost
price. Find the gain earned by him in the whole transaction.
27) A grocer purchased 80 kg of sugar at Rs.13.50 per kg and mixed it with 120 kg
sugar at Rs.16 per kg. At what rate should he sell the mixture to gain 16%
28) The price of a jewel, passing through three hands, rises on the whole by 65%. If the
first and the second sellers earned 20% and 25% profit respectively, find the
percentage profit earned by the third seller?
29) A tradesman sold an article at a loss of 20%. If the selling price had been increased
by Rs.100, there would have been a gain of 5%. What was the cost price of the
article?
30) A trader sells two articles, one at a loss of 10% and another at a profit of 15% but
finally there is no loss or gain. If the total sale price of these two articles is
Rs.30,000, find the difference between their cost prices:
31) A shopkeeper sold an article for Rs.2090.42. Approximately, what will be the
percentage profit if he sold that article for Rs.2602.58?
32) A man bought 18 oranges for a rupee and sold them at 12 oranges for a rupee. What
is the profit percentage?
33) A retailer bought 20 kg tea at a discount of 10%. Besides 1 kg tea was freely offered
to him by the wholesaler at the purchase of 20 kg tea. Now he sells all the tea at the
marked price to a customer. What is profit percentage of retailer?https://bankersway.com/Profit and loss.pdf.pdf
34) Each of A and B sold their article at Rs.1818 but A incurred a loss of 10% while B
gained by 1%. What is the ratio of cost price of the articles of A to that of B?
35) Abhinav saves Rs.25 by getting 6.66% discount on a textbook. What is the amount
of money (in Rs.) paid by him?
36) A trader sells goods to a customer at a profit of k% over the cost price, besides it he
cheats his customer by giving 880 g only instead of 1 kg. Thus, his overall profit
percentage is 25%. Find the value of k?
37) DSNL charges a fixed rental of Rs.350 per month. It allows 200 calls free per
month. Each call is charged at Rs.1.4 when the number of calls exceeds 200 per
month and it charges Rs.1.6 when the number of calls exceeds 400 per month and
so on. A customer made 150 calls in February and 250 calls in March. By how
much percent the each call is cheaper in March than each call in February?
38) Pratibha printers prepares diaries expecting to earn a profit of 40% by selling on the
marked price. But during transportation 8% diaries were got spoiled due to at
random rain and 32% could be sold only at 75% of the cost price. Thus the
remaining 60% diaries could be sold at the expected price. What is the net profit or
loss in the whole consignment?
39) At kul-kul petrol pump the operator gives 5% less petrol but he sells it at the cost
price. What is his profit in this way?
40) A bookseller procures 40 books for Rs.3200 and sells them at a profit equal to the
selling price of 8 books. What is the selling price of one dozen books, if the price of
each book is same?
41) Rahul went to purchase a Nokia mobile handset, the shopkeeper told him to pay
20% tax if he asked the bill. Rahul manages to get the discount of 5% on the actual
sale price of the mobile and he paid the shopkeeper Rs.3325 without tax. Besides he
manages to avoid to pay 20% tax on the already discounted price, what is the
amount of discount that he has gotten?
42) Rotomac produces very fine quality of writing pens. Company knows that on an
average 10% of the produced pens are always defective so are rejected before
packing. Company promises to deliver 7200 pens to its wholesaler at Rs.10 each. It
estimates the overall profit on all the manufactured pens to be 25%. What is the
manufacturing cost of each pen?
43) A merchant earns 25% profit in general. Once his 25% consignment was abducted
forever by some goondas. Trying to compensate his loss he sold the rest amount by
increasing his selling price by 20%. What is the new percentage profit orloss?
44) Alfred buys an old scooter for Rs.4700 and spends Rs.800 on its repairs. If he sells
the scooter for Rs.5800, his gain percent is :
45) By selling an article, Michael earned a profit equal to one-fourth of the price he
bought it. If he sold it for Rs.375, what was the cost price?
46) If by selling 110 mangoes, the C.P. of 120 mangoes is realized, the gain percent is :
47) A man bought some fruits at the rate of 16 for Rs.24 and sold them at the rate of 8
for Rs.18. What is the profit percent?
48) A trader mixes three varieties of groundnuts costing Rs.50, Rs.20 and Rs.30 per kg
in the ratio 2 : 4 : 3 in terms of weight, and sells the mixture at Rs.33 per kg. Wha t
percentage of profit does he make?
49) A bought a radio set and spent Rs.110 on its repairs. He then sold it to B at 20%
profit, B sold it to C at a loss of 10% and C sold it for Rs.1188 at a profit of 10%.
What is the amount for which A bought the radio set?
50) The difference between the cost price and sale price of an article is Rs.240. If the
profit is 20%, the selling price is :
51) A businessman sold 2/3
of his stock at a gain of 20% and the rest at a gain of 14%.
The overall percentage of gain to the businessman is :
52) A shopkeeper offers 2.5% discount on cash purchases. What cash amount would
Rohan pay for a cycle, the marked price of which is Rs.650?
53) A manufacturer offers a 20% rebate on the marked price of a product. The retailer
offers another 30% rebate on the reduced price. The two reductions are equivalent
to a single reduction of :
54) A trader marked the price of his commodity so as to include a profit of 25%. He
allowed discount of 16% on the marked price. His actual profit was:
55) A tradesman gives 4% discount on the marked price and gives 1 article free for
buying every 15 articles and thus gains 35%. The marked price is above the cost
price by :
56) A dishonest dealer purchases goods at 20% discount of the cost price of Rs. x and
also cheats his wholesaler by getting 20% extra through false weighing, per kg.
Then he marks up his goods by 80% of x, but he gives a discount of 25% besides he
cheats his customer by weighing 10% less than the required. What is his overall
profit percentage?
57) Titan sells a wrist watch to a wholesaler making a profit of 10%. The wholesaler, in
turn, sells it to the retailer making a profit of 10%. A customer purchases it by
paying Rs.990. Thus, the profit of retailer is 2 3 %. What is the cost incurred by the 11 Titan to produce it?

ADDITIONAL VIDEOS:
https://www.youtube.com/watch?v=NKArtE2pOV8&list=PLeG-OOhmwhyZVumhxQuVkZpMDxEqBbI-c&t=1592s&index=2
https://www.youtube.com/watch?v=jAGiCu_cdWg&list=PLeG-OOhmwhyZVumhxQuVkZpMDxEqBbI-c&index=2

https://www.youtube.com/watch?v=9qi0QEK7Uqs&index=3&list=PLeG-OOhmwhyZVumhxQuVkZpMDxEqBbI-c

https://www.youtube.com/watch?v=-PHVVlWhKxc&index=4&list=PLeG-OOhmwhyZVumhxQuVkZpMDxEqBbI-c

https://www.youtube.com/playlist?list=PL8AsbU5hkfsttuAT_LoVOz_ziCnIgLe8H