Tips and Tricks for Profit, Loss and Discount for SSC CGL Tier 2
Tips and Tricks for Profit, Loss and Discount for SSC CGL Tier 2 – Tips, Tricks and Strategies for Profit, Loss and Discount for SSC CGL Tier 2
Tips and Tricks for Profit, Loss and Discount for SSC CGL Tier 2
Tips and Tricks for Profit, Loss and Discount: Profit, Loss and Discount are important and crucial topics for Quantitative Aptitude or Arithmetic section. You may find that the application of the topic in certain Data interpretation as well. The following blog will help you to prepare well for the topic of Profit, Loss and Discount well . We give a details analysis of Profit, Loss and Discount.
Practice with SSC CGL Mock Test as per the latest exam pattern.
Profit and Loss: Tips and Tricks for Profit, Loss and Discount
 Cost Price and Selling Price:Cost Price is the price at which the article is purchased. It is also called as CP. Cost price is the amount of money that goes out from the customer when a purchase of a particular item is made..
 Selling Price: Selling Price is the price at which an article is sold. It is called as SP. Selling price is a amount of money which comes by selling anything.
 Profit and Loss:If Selling Price is more than cost price, profit occurs. If selling price is less than cost price, loss occurs. Selling Price is the amount of money that comes in when selling anything. It is price at which is a particular item or article is sold.
 Profit: The Selling Price or SP of an item is known as Cost Price or CP. Vendor is said to have Profit or Gain.Profit=Selling Price – Cost PriceSelling Price = Cost Price / Profit
Cost Price = Selling Price – Profit
 In case of loss:If selling Price or SP of an item is less than Cost Price, the vendor is said to have loss.Loss= Cost Price – Selling PriceSelling Price = Cost Price – LossCost Price = Selling Price – Loss
 Profit Percentage and Loss Percentage:
Profit Percentage and Loss Percentage are always calculated on Cost Price unless otherwise stated.
Profit Percentage = Profit * 100/ Cost Price
Selling Price = Cost Price – (Cost Price x Profit Percentage/100)
= Cost Price (100Profit Percentage)/100
Cost Price = 100*Selling Price / 100 Profit Percentage
Marked Price: Marked Price is the price marked on the label it is known as marked price.
Example: If an object is sold at a profit of 20%, selling price = 120% of cost price
In case of Loss:
Loss Percentage = Loss x 100/ Cost Price
Selling Price = Cost Price – (Cost Price*Loss Percentage /100)
= Cost Priice (100 – Loss Percentage)/ 100
Cost Price = (100x Selling Price) / (100 – Loss Percentage)
7.Selling at Same Price: Suppose, a person sells two objects at the same price, one at profit of of Suppose a person sells two objects at the same price, one at a profit of x1% and another at a profit of x2%. Then,
net profit percentage =100(x1+x2)+2x1x2200+x1+x2
Note:
(a) for loss, use sign for x1 and/or x2 as applicable.
(b) If the formula evaluates to a ve value, it means there is a net loss
Formula #1: If Selling Price is more than Cost Price it is called as Profit or Gain. Gain=SPCP
15% Profit on an item means, that the Cost Price is 100%, Selling Price is 115% and Profit is 15%.
Formula #2: Cost Price is more than selling Price it is called as Loss.
Loss= CPSP
15% Loss on an item means that the cost price is 100%, selling price is 85% and loss is 15%.
Formula #3: Profit and Loss is always calculated on Cost Price or CP.
Gain%= Gainx100/CP
Example #1:
 A Boy purchased an item for Rs. 80 and sold it for Rs. 100. What would be his % profit?
CP Of the item = Rs. 80
SP of the item = Rs. 100
Profit is 100 – 80 = Rs. 20
Profit% = Profit x 100/CP=20×100/80
Example #2:






Example #5: Proft and Loss
A shopkeeper sells one Radio for Rs. 840 at a gain of 20% and another for Rs. 1056 at a loss of 4%. What would be his total gain or loss percent?
Answer :
CP of First Radio is = 100×840/120=Rs. 700
CP Of second Radio is = 100×1056/96 = Rs. 1100
Total SP = 840+ 1056 = 1896
Profit = 1896 – 1800 = Rs. 96
Profit% = 96×100/1800 = 5.33%
Discount: Tips and Tricks for Profit, Loss and Discount
What is MRP?: Stay tuned for more updates on Profit and Loss
MRP: Marked Retail Price is the price printed on the object being sold. Assume, that the price of the goods is 250
Discount: Discount is calculated on the MRP. If the discount is 20%, then the seller agrees to reduce the price of the goods by 20%. We assume that the seller is offering a discount of 20%.
Example:
 What is the selling Price of the goods for the Vendor ?Discount = 20% off on MRP = 20% of 250 = (20×250)/200=50
 What is the selling price of the goods for the Vendor?Selling Price of the object being sold is calculated as SP=MRP DiscountSP = 2550 – 50 = Rs. 200
 What is the Cost price of the goods for the buyer? Cost Price of the Goods is Rs. 200
 What is the Selling Price of the Goods ?The goods is costing Rs. 250 for the seller.
 What is the Cost Price of the object for the Buyer ?The MRP or Cost Price of the goodss is Rs. 250
 What is the Profit for The Seller ? The Seller made a profit for Rs. 50. The goods was procured at a price of Rs. 200 and was sold at Rs. 250.Profit = SP CP = Rs. 250 – 200 = Rs. 50
 What is the Discount given by the Buyer to the Seller? The buyer, gave the seller a discount of 20% or Rs. 50.
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