In this section, you will learn some shortcuts which will be much useful to solve problems on profit and loss.
Using the shortcuts given in this section, you can solve any word problem on profit and loss easily.
To download profit and loss shortcuts as pdf document,
Shortcut 1 :
Cost price and marked up percentage are given.
Cost price = C.P, Profit percentage = m%
Then,
Selling price (S.P) = (100 + m)% ⋅ C.P
Shortcut 2 :
List price and marked down percentage are given.
List price = L.P, Marked down percentage = m%
Then,
Selling price (S.P) = (100 - m)% ⋅ L.P
Shortcut 3 :
Profit = S.P - C.P
Loss = C.P - S.P
Shortcut 4 :
Cost price and Profit are given.
Cost price = C.P, Profit = K
Shortcut 5 :
Cost price and Loss are given
Cost price = C.P, Loss = K
Shortcut 6 :
Selling price and profit percentage are given.
How to find cost price ?
Use shortcut 1 and solve for C.P
Shortcut 7 :
Selling price and loss percentage are given.
How to find cost price ?
Use shortcut 2 and solve for C.P
Shortcut 8 :
Marked Price : It is the price before discount given
Selling price = Marked price - Discount value
Shortcut 9 :
Marked price = M.P, Discount percentage = D%
Then, the discount value is
= D% ⋅ M.P
Selling price is
= (100 - D)% ⋅ M.P
Shortcut 10 :
Marked price (M.P) and discount value are given.
Then shortcut to find the discount percentage is,
Shortcut 11 :
Retailer using false weight :
A trader cheats his customer to make a profit by stating that he sells at cost price. But he gives his customer less than 1000 grams (false weight) for every 1 kilogram.
Then, the profit percentage is
Shortcut 12 :
Shortcut 13 :
Here we have have listed out all the shortcuts which are required to solve profit and loss problems. Students can solve any word problem on profit and loss using the shortcuts which have been explained above.
Do you need the shortcuts explained above as pdf document?
Apart from the shortcuts explained above, if you would like to have practice problems on profit and loss,
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