Profit and Loss - Complete Guide for SSC
Profit and Loss Basics
Key Terms
- Cost Price (CP): Price at which article is bought
- Selling Price (SP): Price at which article is sold
- Profit: SP > CP → Profit = SP - CP
- Loss: CP > SP → Loss = CP - SP
Important Formulas
Profit% = (Profit/CP) × 100
Loss% = (Loss/CP) × 100
SP = CP + Profit = CP(100+Profit%)/100
SP = CP - Loss = CP(100-Loss%)/100
CP = (SP × 100)/(100 + Profit%)
CP = (SP × 100)/(100 - Loss%)
Discount Formulas
Discount = Marked Price - Selling Price
Discount% = (Discount/MP) × 100
SP = MP - Discount = MP(100-Discount%)/100
Solved Examples
Question: CP = ₹500, sold at 20% profit. Find SP.
Solution:
SP = CP(100+Profit%)/100
= 500(100+20)/100
= 500 × 120/100 = ₹600
Answer: ₹600
BETA
