Cost Price
The
price, at which an article is purchased, is called its cost price, abbreviated
as C.P.
Selling Price
The
price, at which an article is sold, is called its selling prices, abbreviated
as S.P.
Profit/Gain :
If
the overall Selling Price exceeds the Cost Price of the seller then he is said
to have a Profit or gain.
- Profit/gain = SP –
CP
- Profit % = Profit/(C
P)×100
- S P = (100+gain %
)/100 ×C P
- C P = 100/(100+gain
%)×S P
Loss:
If
the overall Cost Price exceeds the selling price of the buyer then he is said
to have incurred loss.
- Loss = C P – S P
- Loss % = LOSS/(C
P)×100
- S P = (100-loss
%)/100×C P
- C P = 100/(100-loss
%)×S P
Profit and Loss Based on
Cost Price
To
find the percent gain or loss, divide the amount gained or lost by the
cost.
Example: A toy that cost 80 rupees
is sold at a profit of 20 rupees . Find the percent or rate of profit.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
To
find the loss and the selling price when the cost and the percent loss are
given, multiply the cost by the percent and subtract the product from the cost.
Example: A damaged chair that cost
$110 was sold at a loss of 10%. Find the loss and the selling price.
Answer:
110
x 1/10 = 11, loss.
110
- 11 = 99, selling price.
Profit and Loss Based on
Selling Price
To
find the profit and the cost when the selling price and the percent profit are
given, multiply the selling price by the percent profit and subtract the result
from the selling price.
Example: A toy sells for 6.00 at a
profit of 25% of the selling price. Separate this selling price into cost and
profit.
Selling
price = profit = cost.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
To
find the loss and the cost when the selling price and the percent loss are
given, multiply the selling price by the percent loss and subtract the result
from the selling price.
Example: At a sale, neckties
selling at 50.00 are sold at a loss of 60% of selling price. What is the loss
and the original cost?
Selling
price + loss = cost.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
To
find the selling price when the cost and the percent loss are given, add the
percent loss to 100% and divide the cost by this sum.
Example: Socks that cost 7.00 per
pair were sold at a loss of 25% of selling price. What was the selling price?
7.00
/ 1.25 = 5.60, selling price.
To
find the selling price when the profit and the percent profit are given, or to
find the selling price when the loss and the percent loss are given, divide the
profit or loss by the percent profit or loss.
Note: This rule should be
compared with the one under Profit and Loss Based on Cost. The two rules are
exactly similar except that in one case 100% represents cost while in the other
case 100% represents selling price.
Example: A kind of tape is selling
at a profit of 12% of selling price, equal to 18 per yard. What is the selling
price of the tape?
18
/.12 = 1.50 selling price.
To
find the percent profit or loss, divide the amount gained or lost by the
selling price.
Example: A candy bar sells for 1.30
at a profit of 65. What percent of profit on selling price does this represent?
65
/ 1.30 = .5 or 50% profit.
Mark-up Price
Generally
the SP is less than the marked price (MP) the difference MP – SP is known as
discount, D .
To
reduce percent loss on cost to percent loss on selling price, divide percent
loss on cost by 100% minus percent loss on cost.
Example: 20% loss on cost is
what percent loss on selling price?
0.20
/ 80 = .0025 or 25% loss on selling price
To
reduce percent loss on selling price to percent loss on cost, divide percent
loss on selling price by 100% plus percent loss on selling price.
Example: 20% loss on selling price
is what percent loss on cost?
.20
/ 1.20 = .16666 or .16.67% loss on cost.
To
reduce percent mark-up (percent profit on cost) to percent profit on selling
price, divide percent mark-up by 100% plus percent mark-up.
Example: A coat marked up 60%
carries what percent of profit on selling price?
.60
/ 1.60 = .375 or 37.5% on selling price.
Type 1:
Answer: (b) Gain per cent
Type2:
(CGL-2004)
Answer : (c) To avoid
fraction, let the number of bananas bought
Type 3:
Answers: (a) Let the man buy 24
(LCM of 8 and 12) oranges.
Type 4:
Answer: (a) C.P. of the
book = Rs. x
Type 5:
Answers: (d) Here, S.P. is
same, Hence there is always a loss. Loss per cent =(20×20)/100=4%
Type 6:
Answer
; (c)
C.P. of article = (200×120)/100 = Rs. 240
Type 7:
Answers: (a) Let the cost price of
the article = Rs. x
Type 8:
Answer: (c) If the C.P. of
the suitcase for A be Rs. x, then
Type 9
Answer (a) If the C.P. of
first cycle be Rs. x, then C.P. of second cycle = Rs. (1600-x).
Type 10:
Type11:
Cost Price
Selling Price
Profit/Gain :
Loss:
(CGL-2004)