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Profit & Loss Tips & Tricks
Profit/Loss is another easy topic of Bank & SSC Exams. Most of the questions can be solved in less than 30 seconds. First let me introduce a formula that will be used in solving 50% of the questions.
SP = Selling price
CP = Cost Price
f = Profit/loss factor
What is this profit/loss factor ? It’s simple, ‘f’ depends on the profit/loss %
If profit% = 10, then f = 1.1
If profit% = 30, then f = 1.3
If profit% = 15, then f = 1.15
If loss% = 10, then f = 0.9
If loss% = 25, then f = 0.75
If loss% = 12.5, then f = 0.875
Please note that f depends on profit/loss percentage and not on the absolute value of Profit/Loss. So if in any question it is given that the profit is Rs. 30, then it doesn’t mean that f = 1.3
Let us see some SSC CGL questions that can be solved with this formula
Let ‘s’ be the SP of 1 article and ‘c’ be the CP of 1 article.
Given, 6c = 4s
Therefore s/c = 1.5
Gain % = 50
Answer : (B)
Let ‘s’ be the SP of 1 metre of cloth and ‘c’ be the CP of 1 metre of cloth
Total SP = 20s, Profit = 4s
CP = SP – Profit = 16s
The ratio s/c = 20s/16s = 1.25
Gain % = 25
Answer : (C)
Q . 3.
SP of 1 article(s) = Rs. 10/8 = 5/4
CP of 1 article(c) =Rs. 8/10 = 4/5
s/c = 25/16 = 1.5625
Gain % = 56.25
Answer : (A)
- Q) 4. Kunal sold a shirt at a loss of 10%. Had he sold it for Rs 60 more, he would have gained 5% on it. Find the CP of the shirt.
In this question we have to find the CP of the article
c = s/f
From basic mathematics or elementary science we know that putting delta (∆) sign in numerator and denominator doesn’t change the equation. ∆ stands for ‘change’
c = ∆s/∆f
where ∆s = change in SP
∆f = change in factor
Therefore ∆s = New SP – Old SP = Rs. 60
∆f = New factor – Old factor
New factor is the factor when profit is 5%. Old factor is the one with loss = 10%
So ∆f = 1.05 – 0.9 = 0.15
c = ∆s/∆f = 60/0.15 = Rs. 400
Answer : Rs 400
CP of 1 article = Rs.8/10 = Rs. 4/5
SP of 1 article = Rs. 10/8 = Rs. 5/4
SP/CP = 25/16 = 1.5625
Hence profit% = 56.25
Total investment = Total CP
Let the CP of 1 egg = C
Then total CP = 200C
Total eggs left = 200 – 38 = 162 eggs = 162/12 dozen
Total SP = (162/12)*4.8 = Rs. 64.8
f = 1.08
Hence CP = 64.8/1.08 = Rs. 60
This question appeared in Tier-2 2014 and is one of the trickiest question asked by SSC from this topic. So much so that many question banks haven’t published its solution. Although if your concepts are clear, then there is nothing tricky here.
Let the fruit-seller buys 100 oranges
Now, he has sold the oranges in two parts. First he sold 40 oranges and then he sold 48 (80% of 60) oranges.
Total SP = (SP of 40 oranges) + (SP of 48 oranges)
Given, SP of 40 oranges = CP of 100 oranges
40S = 100C (where S = SP of 1 orange and C = CP of 1 orange)
S/C = 2.5
f = 2.5 and hence Profit = 150%
He sold 80% of remaining oranges at half the previous rate of profit.
That means he sold 48 oranges at 75% profit.
CP of 48 oranges = 48C
f = 1.75
SP of 48 oranges = 1.75*48C = 84C
Total SP = (SP of 40 oranges) + (SP of 48 oranges) = 100C + 84C = 184C
Total CP = 100C
f = SP/CP = 184C/100C = 1.84
Hence profit = 84%
If you have any doubt in this article, please drop a comment…
Keep reading 🙂
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Practice Problems On Profit Loss
- A dealer buys a product at Rs. 1920 , he sells at a discount of 20% still he gets the profit of 20% . What is the selling price of that product?
- The ratio of cost price and marked price of an article is 2:3 and ratio of percentage profit and percentage discount is 3:2. What is the discount
- A firm of readymade garments makes both men’s and women’s shirts. Its average profit is 6% of the sales. Its profit in men’s shirts average 8% of the sales and women’s shirts comprise 60% of the output. Find the average profit per sales rupee in women’s shirts .
- A shopkeeper marks his goods 20% above his cost price and gives 15% discount on the marked price. Find his gain%.
- A, B and C invest in the ratio of 3 : 4 :5 . The percentage of return on their investments are in the ratio of 6 : 5 : 4 . Find the total earnings, if B earns Rs. 250 more than A.
- Jagran group launched a new magazine in January 2004. The group printed 10000 copies initially for Rs. 50000. It distributed 20% of its stock freely as specimen copy and 25% of the rest magazines are sold at 25% discount and rest at 16.66% discount whose printing price was Rs. 12 per copy . What is the overall gain or loss in the first month’s issue of magazine, if the magazine could not realize the income from advertisements or other resources?
- A dishonest trader marks up his goods by 80% and gives discount of 25% . Besides he gets 20% more amount per kg from wholeseller and sells 10% less per kg to customer. What is the overall profit percentage ?
- By selling 12 marbles for a rupee, a shopkeeper loses 20% . In order to gain 20% in the transaction , he should sell the marbles at the rate of how many marbles for a rupee?
- A shopkeeper bought a DVD marked at Rs. 200 at successive discounts of 10% and 15% respectively. He spent Rs. 7 on transport and sold the table for Rs.208 .What will be his profit percentage ?
- The cost of setting up a magazine is Rs.2800. The cost of paper and ink is Rs.80/ 100 copies and printing cost is Rs. 160 / 100 copies. In the last month 2000 copies were printed but only 1500 copies could be sold at Rs. 5 each . Total 25% profit on the sale price was realized. There is one more resource of income from the magazine which is advertising. What sum of money was obtained from the advertising in magazine?
- A dealer offers a discount of 20% and still makes a profit of 20% and he further allows 4 articles free on the sale of 12 articles. Find the ratio of cost price to market price.
- A and B are dealers of a bike company. The price of a bike is Rs.28,000. A gives a discount of 10% on whole , while B gives a discount of 12% on the first Rs.20,000 and 8% on the rest Rs.8000. What is the difference between their selling price?
- Sonata sells a wrist watch to a wholeseller making a profit of 10%. The wholesaler 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(3/11)% what is the cost incurred by the Sonata to produce it?
- Fanta and Coke, there are two companies, selling the packs of cold-drinks. For the same selling price Fanta gives two successive discounts of 10% and 25%. While Coke sells it by giving two successive discounts of 15% and 20%. What is the ratio of their marked price?
- Profit on selling 10 candles equals selling price of 3 bulbs. While loss on selling 10 bulbs equals selling price of 4 candles. Also profit percentage equals to the loss percentage and cost of a candle is half of the cost of a bulb. What is the ratio of selling price of candle to the selling price of a bulb?
- A person wants to reduce the trade tax so he calculates his profit on the sale price instead of on the cost price. In this way by selling a article for Rs. 280 he calculates his profit as 14(2/7)%. What is his actual profit percentage ?
- A person sold an electronic watch at Rs. 96 in such a way that his percentage profit is same as the cost price of the watch . If he sells it at twice the percentage profit of its previous percentage then find the new selling price.
- 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?
- A firm of readymade garments makes both men’sand women’s shirts. Its average profit is 6% of the sales. Its profit in men’s shirts average 8% of the sales and women’s shirts comprise 60% of the output. What is the average profit per sales rupee in women’s shirts.
- Of the two varieties of rice available, variety A is bought at Rs.32 per kg and variety B at Rs.80 per kg. Two varieties of rice are mixed together in the respective ratio of 8:5 and the mixture is sold at Rs.72 per kg. What per cent of profit approximately the seller receives ?
- Raman calculates his profit % on the selling price whereas Rajeev calculates his on the cost price. They find that the difference of their profits Rs.150. If the selling price of both the m are the same and both of them get 50% profit. Find their selling price.
A) Rs. 620
B) Rs. 900
- A trader has 600kgs of rice , a part of which he sells at 15% profit and the remaining quantity at 20% loss. On the whole , he incurs an overall loss of 6% .What is the quantity of rice he sold at 20% loss?
- A camel and a cart together cost Rs. 5000.If by selling the camel at a profit of 10% and the cart at a loss of 10% a total profit of 2.5% is made ,then what is the cost price of the camel ?
B) Rs. 3125
C) Rs. 3000
- If there is a loss of 40% when a good is sold at (2/5)th of its earlier selling price. Find the profit% after selling the good at a certain price.
- There are two watches of cost Rs. 800. One is sold at a profit of 16% and the other at a loss of 8%. If there is no loss or no gain in the whole transaction, the cost price of the watch on which the shopkeeper gains is?
A) Rs. 400
- Niel bought 30kg rice at the rate of Rs.9.50/kg and 40kg of rice at the rate of Rs. 8.50/kg and mixed them. She told the mixture at the rate of Rs. 8.90/kg. Find the total profit or loss in the whole transaction.
A) Rs.4 profit
B) Rs.2 loss
C) Rs.2 profit
D) Rs.4 loss
E) None of these
- If a shopkeeper sell a TV at 15% profit and a DVD at 12% loss then he earns Rs. 540 as total profit but if he sells the TV at 12% loss and the DVD at 15% proft then there is no loss or profit.Find the price of the TV and the DVD ?
A) Rs.11,000 and Rs. 2000
B) Rs.15,000 and Rs. 3000
C) Rs.11,000 and Rs. 6000
D) Rs.10,000 and Rs.8000
E) Rs.17,000 and Rs. 4000
- A cloth merchant uses 120cm scale while buying,instead a meter scale ,but uses an 80 cm scale while selling the same cloth. If he offers a discount of 20% on cash payment. Find the profit percent.
- An article is marked 50% over its cost price.Two successive discounts of 12% and 13(1/2)% are allowed on the marked price of the article.Find the profit or loss percent after selling at discount.
- A trader marked his goods at such a price that after allowing a discount of 12(1/2) % for cash payment, he makes a profit of 20% . What is the marked price of the good which costs Rs. 210 ?
D) Rs. 288
- If a person reduce his selling price of an article by rs40 then the suggested profit of 33(1/3)% convert into loss of 20%. Find the cost price?
- The price of an article increase by 20% and a man now get 10kg less, if he also reduce his consumption by 20%, then find how much kg of article he used to purchase in normal price?
- A shopkeeper sell his goods at 25% loss but he uses false weight of 30%. Find the loss or profit of shopkeeper in this whole process?
A) 50/7% profit
B) 50/3% profit
C) 50/7% loss
D) 50/3% loss
- A shopkeeper sells an article at 25% profit. Had he bought it for 10% loss and sold it for rs16 less, he would have earned 30% profit. What is the actual cost price?
- A dishonest milkman sells milk at cost price but he mixes water and earns 14(2/7)%. Find the ratio of mixture and milk in the mixture?
A) 7 : 1
B) 7 : 8
C) 1 : 7
D) 8 : 7
- A man sells his two articles at Rs1200. At one he gains 25% and at another he gains 16(2/3)%. Overall he gains 20%. Find the cost price of first article?
- A sold an article to B at the profit of 25%, B sold it to C at loss of 10% and C sold it to D at the profit of 20%. If D paid rs27, then how much A paid to buy this article?
- A man buys some toffees at 5 toffee in 3rupee and same number of toffee at 5 toffee in rs4. He sold all of them at 5 toffee in 4 rupee. Find his overall gain or loss percent?
- By selling 144 hens Mahesh suffer a loss equal to the selling price of 6 hens. Find his loss percent?
- If a man wants to gain 33(1/3)% after allowing a discount of 16(2/3)%. Then find how much percent he has to increase his C.P to make M.P ?
- A shopkeeper sold a T.V set for Rs17,940 with a discount of 12.5% and Gained 5%. If no discount is allowed then what will be his gain percent?
- If 8kg of tea price costing Rs56/kg is blended with 32kg of tea of Rs69/kg and 25kg of Rs75/kg and the mixture is sold at 20% profit. Find the selling price (in rupees) of mixture?
- If the price of an article increased by 25% and his expenditure increases by 15%, a person gets 4kg less article. Find the original quantity of article (in kg).
- An article is sold at 25% profit. Had it been sold at Rs30 less then there would have been a loss of 25%. What was the cost price (in Rupees)?
- Even after reducing the marked price of a fan by Rs64, a shopkeeper makes a profit of 15%. If the cost price of fan is Rs640 what percent of profit would have been made if he had sold the fan at the market price?
- 6. A man gets a profit of 28% after allowing discount of 11(1/9)%. Find how much percent the cost price should be increased to make this Mark Price?
- The sale price of an article including the sales tax is Rs560. The rate of sales tax is 16(2/3)%. If the shopkeeper has made a profit of 14(2/7)% then find the cost price (in rupees)?
- A horse and a cow were sold for Rs49,500 each. The horse was sold at a loss 10% and cow at a gain of 10%. The entire transaction resulted in?
A) Profit of Rs1000
B) Loss of Rs1000
C) No loss, no gain
D) Profit of Rs2020
E) Loss of Rs2000
- A manufacturer of a certain item can sell all items that he can produce at the selling price of Rs50 each. It cost him Rs30 in materials and labour to produce each item and he has overhead expenses of Rs5000 per week in order to operate the plant. The number of units he should produce and sell in order to make a profit of at least Rs3000 per week?
- A shopkeeper sold his article at cost price but he uses false weight and gives 400gm instead of 600gm. Find his loss or profit percent?