Question

Can anyone explain tricks and tips for profit and loss and the entire concept

Answer 1

Answer:

1. One can generate a profit only if Selling Price> Cost Price

2. One generates a loss when Selling Price < Cost Price.

3. Profit = Selling Price – Cost Price

%profit = {(Selling Price – Cost Price)/Cost Price} x 100

4. Loss = Cost Price – Selling Price

%Loss = {(Cost Price – Selling Price)/Cost Price} x 100

5. Sale price :- If there is a profit of P %,

Cost Price = C

Then SP = {(100+P)/100}xC

6. If there is a loss of L %,

Cost Price = C

Then

SP = {(100-L)/100}xC

7. Cost price :-

If there is a profit of P %,

Cost Price = C

Sale price= SP

Then C = {100/(100+p)} x SP

If there is a loss of L %,

Then

C = {100/(100-L)}xSP

Answer 2

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Below is the list of some basic formulas used in solving questions on profit and loss:

Gain % = (Gain / CP) * 100.

Loss % = (Loss / CP) * 100.

SP = [(100 + Gain%) / 100] * CP.

SP = [(100 – Loss %) / 100]*CP.