## Profit & Loss Aptitude Questions

Cost price –The price at which an article is purchased is called as cost price and it can be abbreviated as C.P

Selling price – The price at which an article is sold is called as its selling price and it can be abbreviated as S.P

Profit or Gain – If the selling price is greater that the cost price, the seller is said to have a profit or gain

Loss – If the selling price is less than the cost price, then the seller is said to have incurred a loss

Formulas for profit and loss

- Gain = (S.P) – (C.P)
- Loss = (C.P) – (S.P)

Loss or gain is always reckoned as C.P

- Gain % = (Gain * 100)/ C.P
- Loss % = (Loss * 100/ C.P)
- S.P = (100+ Gain %) /100 * C.P
- C.P = 100 / (100 + Gain %) * S.P
- S.P = (100 – Loss %) / 100 * C.P
- C.P = 100/ (100 – Loss %) * S.P

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If an article is sold at a gain of say, 35%, then S.P = 135% of Cost Price

If an article is sold at a loss of say, 35%, then S.P = 65% of Cost Price

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 given by

Loss % = (Common Loss and Gain%/ 10) = (x/10)

If a trader professes to sell his goods at cost price, but uses false weights, then

Gain% = [Error/ (True value) – (Error) * 100] %

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