All Bank Question Are Made These Rules
Cost price is defined as price at which an article is purchased.
Selling price
Selling price is defined as price at which an article is sold.
Profit
When an article is sold out at more price than cost price in that case You will get profit. For Profit case SP should always greater than CP.
Loss
When an article is sold out at less price than cost price in that case You will get loss. For Loss case SP should always less than CP.
Basic Formulas
Profit = Selling Price - Cost Price
- Profit or Loss is always depends on cost price but not on selling price
- If an article is sold at a certain gain x then Selling Price = ( 100 + X ) % of Cost Price
- If an article is sold at a certain loss x then Selling Price = ( 100 - X ) % of Cost Price
Raju buys an mobile cover for Rs. 100 and sells it for Rs. 110. Find him profit?
Cost price = Rs. 100
Selling price = Rs. 110
Profit = Selling Price - Cost Price
= Rs. ( 110 - 100 )
= Rs. 10
Basic Formulas
Loss = Cost Price - Selling Price
Example sum
Rani buys an mobile cover for Rs. 100 and sells it for Rs. 80. Find his Loss?
Cost price = Rs. 100
Selling price = Rs. 80
Loss = Cost Price - Selling Price
= Rs. ( 100 - 80 )
= Rs. 20
Basic Formulas
Profit % = ( Profit / Cost price ) * 100%
Example sum
Raju buys an mobile cover for Rs. 100 and sells it for Rs. 110. Find him profit percent?
Cost price = Rs. 100
Selling price = Rs. 110
Profit = Selling Price - Cost Price
= Rs. ( 110 - 100 )
= Rs. 10
Profit % = [ ( 10 / 100 ) * 100 ] %
= 10 %
Basic Formulas
Loss % = ( Loss / Cost price ) * 100%
Example sum
Rani buys an mobile cover for Rs. 100 and sells it for Rs. 80. Find his Loss percent?
Cost price = Rs. 100
Selling price = Rs. 80
Loss = Cost Price - Selling Price
= Rs. ( 100 - 80 )
= Rs. 20
Loss % = [ ( 20 / 100 ) * 100 ] %
= 20 %
Basic Formulas
Selling Price (SP) = [ ( 100 + Gain % ) / 100 ] * CP
Selling Price (SP) = [ ( 100 - Loss % ) / 100 ] * CP
Cost Price (CP) = [ 100 / ( 100 - Loss % ) ] * SP
Cost Price (CP) = [ 100 / ( 100 + Gain % ) ] * SP
Example sum
Selling price of an article is Rs. 2220 and the percent profit earned is 20%. What is the cost price of the article?
Selling Price ( SP ) = 2220
Profit percentage = 20%
Cost Price ( CP ) = [ 100 / ( 100 + Gain % ) ] * Selling price
= [ 100 / ( 120 ) ] * 2220
= 370 * 5
= 1850