### Aptitude Profit and Loss Basics

### Basic Points to Remember:

**Cost Price:**The price, at which an item is purchased, is called it's Cost Price and is denoted by C.P.**Selling Price:**The price, at which an item is sold, is called it's Selling Price and is denoted by S.P.**Profit [or] Gain:**If S.P is greater than C.P, then it is called as Profit.**Loss:**If C.P is greater than S.P, then it is called as Loss.**Market Price [or] Label Price:**Retailer or Seller marks the price on a label and attaches it to the items or articles.**Discount:**Reduction in the Marked price or Market price or Label price is called Discount.

### Important Formulas:

- Profit [or] Gain = (Selling Price) - (Cost Price)
- Loss = (Cost Price) - (Selling Price)
- Gain Percentage = (Gain/Cost Price)*100
- Loss Percentage = (Loss/Cost Price)*100
- Selling Price = [(100 + Gain %)/100]* C.P
- Selling Price = [(100 - Loss %)/100]* C.P
- Cost Price = [100/(100 + Gain %)]* S.P
- Cost Price = [100/(100 - Loss %)]* S.P
- When a person sells two similar items, one at a gain of say x%, and the other at a loss of x%, then the seller always incurs a loss = (x)
^{2}/100 - If a grocer sells its goods at cost price, but uses a false weight instead of true weight. Then

Percentage Gain = [(True Weight - False Weight)/False Weight]*100

Profit and Loss Problems:

1. A man purchased a book for Rs. 300 and sold it out for Rs. 390. What is the gain or loss percentage?

A) 15 % B) 20 % C) 25 % D) 30 %

2. A Man purchased a table for Rs. 1600 and sold it for Rs. 1280. What is gain or loss percentage?

A) 10 % B) 20 % C) 22 % D) 25 %

3. A Man sold a car for Rs. 2600, there by he gained 30 %. Then find out the C.P ?

A) Rs. 1,800 B) Rs. 1,900 C) Rs. 2,000 D) Rs. 2,100

4. A Man sold two horses for Rs. 1,000 each and he gained 10 % on one horse and 10 % loss on other. Then find out total gain or loss ?

A) 0.5 % B) 1 % C) 1.5 % D) 2 %

5. A dishonest dealer professes to sell his goods at C.P but he use a weight of 800 gms instead of 1 Kg. Then what is gain or loss percentage ?

A) 10 % B) 15 % C) 20 % D) 25 %

6. A Man sold an article for Rs. 21,000. There by he loss 30 %. What is the C.P ?

A) Rs. 25,000 B) Rs. 28,000 C) 30,000 D) 32,000

7. I gain 70 paise on Rs. 70. What is my gain percent ?

A) 0.1 % B) 1 % C) 7 % D) 10 %

### Points to Remember:

In a given problem only Articles or Quantities are given, then use the following formulae.- Profit = (Cost Quantity) - (Selling Quantity)
- Loss = (Selling Quantity) - (Cost Quantity)
- % Gain = (Profit/Selling Quantity)*100
- % Loss = (Loss/Selling Quantity)*100

### Example Problems:

8. The C.P of 15 articles is equals to the selling price of 12 articles. Then find the Profit or Loss percentage?A) 20 % B) 25 % C) 28 % D) 30 %

9. A Man purchased 11 articles for Rs. 10 and he sold out 10 articles for Rs. 11. What is the gain or loss percentage ?

A) 10 % B) 11 % C) 20 % D) 21 %

10. The cost price of 19 articles is equal to the selling price of 16 articles. What is the Gain percentage ?

A) 60/17 % B) 300/19 % C) 75/4 % D) 20 %

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