Profit & Loss Guide & Practice
Master cost price, selling price, markup, discount calculations, successive discount tricks with solved problems and free mock practice papers. Explore dynamic solver blueprints, master fundamental equations, examine step-by-step solved examples, and practice with real exam-grade mock test sets.
1. Key Definitions & Terms
- Cost Price (CP): The price at which an article is purchased.
- Selling Price (SP): The price at which an article is sold.
- Marked Price (MP): The price printed on the label (List Price).
- Profit (Gain): Occurs when
SP > CP. - Loss: Occurs when
CP > SP. - Markup: The difference between Marked Price and Cost Price (
MP - CP). - Discount: The reduction offered on the Marked Price (
MP - SP).
2. Core Formulas
Basic Profit & Loss
- Profit =
SP - CP - Loss =
CP - SP - Profit % =
(Profit / CP) * 100 - Loss % =
(Loss / CP) * 100
Finding SP and CP
- SP =
CP * [(100 + Profit%) / 100] - SP =
CP * [(100 - Loss%) / 100] - CP =
[100 / (100 + Profit%)] * SP - CP =
[100 / (100 - Loss%)] * SP
Discount & Markup
- Discount % =
(Discount / MP) * 100 - Markup % =
(Markup / CP) * 100 - SP =
MP * [(100 - Discount%) / 100]
Special Cases
- Successive Discounts (x%, y%): Net Discount =
[x + y - (xy/100)]% - Dishonest Dealer (False Weights):
Gain % = [Error / (True Value - Error)] * 100 - Two items sold at same SP (one at x% profit, one at x% loss):
Always a Loss % = (x / 10) ^ 2
Solved Examples
Question: An article is bought for Rs. 200 and sold for Rs. 250. Find the profit percentage.
Question: Marked price of a bat is Rs. 1000 and it is sold at a 20% discount. Find the selling price.
Question: A T-shirt with MP Rs. 200 is sold after two successive discounts of 20% each. Find the final SP.
Question: A shopkeeper uses a 900g weight instead of 1kg. Find his gain percentage.
Question: A man gains 30% by selling an article. If he sells it at double the current selling price, what will be the new profit percentage?