## FeedBack Form

Your Name : : : :
FeedBack

## PROFIT AND LOSS -> IMPORTANT FACTS AND FORMULAE

1. 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 purchased, is called its cost price, abbreviated as C.P. Profit or Gain : The price at which an article is purchased, is called its cost price, abbreviated as C.P. Loss : If S.Pis less than C.P., the seller is said to have incurred a loss. Gain = (S.P.) - (C.P.) Loss or gain is always reckoned on C.P. gain% = [Gain*100/C.P.] Loss = (C.P.) - (S.P.) Loss% = [Loss*100/C.P.] S.P. = (100+Gain%)/100 * C.P. S.P. = (100-Loss%)/100 * C.P. C.P. = 100/(100+Gain%) * S.P. C.P. = 100/(100-Loss%) * S.P. If an article is sold at a gain of say, 35%, then S.P. = 135% of C.P. If an article is sold at a loss of say, 35%, then S.P. = 65% of C.P.

## PROFIT AND LOSS -> SOLVED EXAMPLES

1. If the cost price is 96% of the selling price, then what is the profit percent? Sol. Let S.P. = Rs.100. Then, C.P. = Rs. 96; Profit = Rs.4. ∴ Profit% = [4/96 * 100]% = 25/6 % = 4.17%. A person incurs 5% loss by selling a watch for Rs.1140. At what price should the watch be sold to earn 5% profit? Sol. S.P. = Rs. 27.50, Profit = 10%. So, C.P. = Rs.[100/110*27.50] = Rs. 25. When S.P. = Rs. 25.75, profit = Rs. (25.75-25) = Re. 0.75. ∴ Profit% = [0.75/25*100]% = 3%. A person incurs 5% loss by selling a watch for Rs. 1140. At what price should the watch be sold to earn 5% profit? Sol.Let the new S.P. be Rs. x. then, (100 - loss%) : (1st S.P.) = (100 + gain%) : (2nd S.P.) ⇒ [100-5/1140] = [100+5/x] ⇒ x = [105*1140/95] = 1260. Find S.P when C.P=Rs 56.25 and Gain=20% Sol.56.25 * 1.2 = 67.5. If a radio is purchased for Rs 490 and sold for Rs 465.50 Find the loss%? Sol.Loss = 490 – 465.5 = 24.5 loss in % = 24.5/ 490 *100 = 5%.

## PROFIT AND LOSS -> EXERCISE

1. An uneducated retailer marks all his goods at 50% above the cost price and thinking that he will still make 25% profit, offers a discount of 25% on the marked price. What is his actual profit on the sales?

• A. 12.50 %
• B. 13.50 %
• C. 14 %
• D. 14.50 %
 Ans: A. Sol. Let C.P. = Rs. 100. Then, marked price = Rs. 150. S.P. = 75% of Rs. 150 = Rs. 112.50. ∴ Gain% = 12.50%.

2. A retailer buys 40 pens at the marked price of 35 pens from a wholesaler. If he sells these pens giving a discount of 1%, what is the profit percent?

• A. 12 %
• B. 10 %
• C. 15 %
• D. 16 %
 Ans: B. Sol. Let the marked price of each pen be Re. 1. Then, C.P. of 40 pens = Rs. 36. S.P. of 40 pens = 99% of Rs. 40 = Rs. 39.60. ∴ Profit% = [3.60/36 * 100]% = 10%.

3. John bought 15 apples for Rs.10 and sold them at the rate of 12 apples for Rs.12. What is the percentage of profit made by him?

• A. 50 %
• B. 60 %
• C. 65 %
• D. 100 %
 Ans: A. Sol. He got profit ⇒ profit % = 15/10 * 12/12 = 1.5 ⇒ 50%.

4. 30% loss on cost price in what percent loss on selling price?

• A. 28.44 %
• B. 38 %
• C. 40.35 %
• D. 42.85 %
 Ans: D. Sol. Loss = 30% on CP i.e., 0.3CP ⇒ SP = 0.7CP Loss % on SP = loss/SP * 100 = 0.3CP/0.7CP * 100 = 42.85%.

5. David purchased a house for Rs.75000 and a site for Rs.15000 respectively, if he sold the house for Rs.83000 and the site for Rs.10000, then find the resultant percentage of gain?

• A. 30 %
• B. 330/3 %
• C. 31/3 %
• D. 3.33 %
 Ans: D. Sol. Total CP = 90000 & total SP = 93000 ⇒ gain = SP/CP = 93000/90000 = 1.0333 = 3.33%.