PSC Tips

Profit and Loss Formulas and Tips

Profit and Loss Formulas for PSC

Profit and loss is the one of major question section in PSC exams.

Cost Price(CP) : The Price at which a particular item purchased, is called its Cost Price.
Selling Price (SP) : The price at which a particular item is sold, called its Selling Price.
Profit : If Selling Price of an item is more than Cost Price , then vendor is said to have a Profit.
Loss : if Selling Price of an item is less than Cost Price, the vendor said to have a Loss.

Formulas

Profit = SP – CP
Profit % = Profit/(CP)×100
SP = ((100+Profit% )/100)×CP
CP = (100/(100+Profit%))×SP

Loss = CP – SP
Loss% = Loss/(CP)×100
SP = ((100-loss%)/100)×CP
CP = (100/(100-loss%))×SP

Examples:

  • The cost price of 40 Oranges is the same as the selling price of 25 Oranges. Find the gain percent.

Answer:
=(40-25)/25×100
=15/25×100=60%.

  • A Chair was purchased for Rs. 400 and sold at a profit of 10%. Find the selling price.

Answer:
=(100+10)/100 X 400
=440.

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