Two vendore A and B cold a product with ,
difference of sco. f A made 10% profit
which of follow
while & mede none.
following
be price and
120
product from Vendor A
Answers
Profit and Loss
Important Terms:
Cost Price (C.P.): Price at which at an article is purchased.
Selling Price (S.P.): Price at which at an article is sold
Profit/Gain: The seller is said to be in profit, if selling price (S.P.) is greater than cost price (C.P.)
Loss: The seller is said to be in loss, if selling price (S.P.) is lesser than cost price (C.P.)
Important Formulae:
1) Loss% = Loss × 100
C.P.
2) Profit% = Profit × 100
C.P.
3) When shopkeeper earns profit,
Cost Price = 100 × S.P. - - - - - - (Given: Gain% and selling price of an article)
(100 + Gain%)
Selling Price = (100 + Gain%) × C.P. - - - - - - (Given: Gain% and cost price of an article)
100
4) When shopkeeper incurs loss,
Cost Price = 100 × S.P. - - - - - - (Given: Loss% and selling price of an article)
(100 - Loss%)
Selling Price = (100 - Loss%) × C.P. - - - - - - (Given: Loss% and cost price of an article)
100
Quick Tips and Tricks
1) Profit = (S.P.) > (C.P.)
2) Loss = (S.P.) < (C.P.)
3) If profit earned by selling an article is 25 %, then S.P. = 125% of C.P.
4) If an article is sold at a loss of 30 %, then S.P. = 70 % of C.P.
5) A shopkeeper sells two similar items A and B. If A is sold at a gain of x % and B is sold at a loss of x %, then shopkeeper always incurs a loss given by:
Loss% = Common loss and gain% 2 = x 2
10 10
6) A trader sells goods at cost price but uses a weight of x kg instead of y kg (false weights) and makes profit. This profit can be calculated using the formula shown below:
True weight – False weight = Error
Gain% = Error × 100 %
(True weight – Error)
7) If cost price of X articles is equal to selling price of Y articles, then profit can be calculated using the formula:
a) C.P. of X = S.P. of Y
b) Number of X articles > Number of Y articles
Profit% = No. of X articles – No. of Y articles × 100
No. of Y articles
8) If a seller makes X % above C.P. and offers a discount of Y%, then profit % or loss % can be calculated using the formula:
Profit or Loss% = (X – Y) – X × Y
100
9) Discount:
a) Discount% = Discount × 100
Marked Price (M.P.)
b) If D1, D2, D3 are percentage of successive discounts on M.P., then S.P. = Marked Price 1 – D1 1 – D2 1 – D3
100 100 100
c) If a and b are two successive discount percentages, then single equivalent discount percentage is given as:
Single equivalent discount percentage = (a + b) – ab
100
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