How To Find Profit And Loss? To find whether the transaction is profitable or lost, the Profit and loss formula is used. The profit and loss concept is mainly used in our day to day life. When a person buys a product at a particular cost is called Cost Price (CP) and when that product is sold at a particular price is called a Selling Price (SP). If the product is sold at a higher cost than the actual cost price, then there will be a Profit in the transaction. But when the product is sold at a lesser rate than the cost price, then there will be a Loss in the transaction. Another price available in the transaction is Marked Price (MP). Marked Price is nothing but a shop owner marking the cost of the product above the cost price of the article. Discount of the product is given from the marked price of the product. This is the basic concept of calculation to run a business.
Profit and Loss is one of the important topics in the competitive examinations. At least a single profit and loss question will be present in the prelims and main examination of the banking exams. The only difference between the prelims and the main examination of the competitive exams is the difficulty level of the exams. In this article, we have provided you with the important topics of profit and loss like Profit and Loss formula pdf, Profit and Loss formula percentage, Profit and Loss formula for bank exam, profit and loss formula, profit and loss aptitude, profit and loss percentage formula, Profit and Loss for competitive exams, Profit and Loss for ssc cgl, Profit and Loss for bank exams PDF, Profit and Loss questions, Profit and Loss formulas aptitude, Profit and Loss formulas for tnpsc, profit and loss formula percentage, Profit and Loss formulas for cat, Profit and Loss formulas PDF, Profit and Loss formulas for ssc chsl, formula for profit and loss percentage, formula of profit loss and discount, profit and loss formula in maths, profit and loss formula pdf, and Profit and Loss formulas for competitive exams. From this article, the candidates can search for important Profit and Loss topics for their preparation for the Quantitative Aptitude section. To score more marks in banking and various other exams one should practice well for the syllabus of the given exams. Candidates can make use of this article to learn the complete concept of Profit and Loss topic.
Profit and Loss Formula PDF For Bank Exams
The profit and loss formula pdf for bank exams is attached to this profit and loss formula for bank exams article. This profit and loss formula pdf contains the profit and loss formula, formula for profit and loss percentage, the formula of profit loss and discount, and more. Candidates can utilize this profit and loss formula pdf for bank exams to make their calculations simpler with speed and accuracy while solving the profit and loss questions with the profit and loss formula and formula for profit and loss percentage. Download this profit and loss formula for your future reference.
Download Profit and Loss Formula PDF for Bank Exams
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What are Profit and Loss?
A detailed explanation of profit and loss is provided in this profit and loss formula for bank exams post. Profit is the difference in amount when a person sells a product at a higher rate than the cost price. Loss is the difference in amount when a person sells a product for less than the cost price. Detailed clarifications about the profit and loss concept, the formula for profit and loss percentage, and formula of profit loss and discount are added in the profit and loss formula pdf for bank exams.
Profit:- When a person sells a product at a higher rate than the cost price is called profit.
Profit = Selling Price - Cost Price
Loss:- When a person sells a product lesser than the cost price is called a loss.
Loss = Cost Price - Selling Price
Profit and Loss Basic Concepts
The basic concepts of profit and loss are provided in this profit and loss formula for bank exams article. Aspirants who are going to attempt the bank exams in the future must know some basic concepts of profit and loss. You can go through this profit and loss formula for bank exams article or download the profit and loss formula pdf for bank exams to learn more concepts about profit and loss, the formula for profit and loss percentage, and the formula for profit loss and discount.
Cost Price (CP): A person who purchases a product at some price is called the cost price. For example, Arun purchased a pen at 50 rs. Here 50 rs is a cost price. Cost Price is denoted by CP
Selling Price (SP): The amount for which the product is sold is called the Selling Price. It is usually denoted as SP. Also, sometimes called a sale price.
Marked Price (MP): The price that is marked on a product or commodity is known as the marked price. It is also known as the tag price. If there is no discount on a particular product or commodity the selling price is equal to the marked price.
Markup: The cost price is increased to reach the market price is called the markup.
Markup = Market Price - Cost Price.
Discount: The reduction of the amount offered by a merchant on a marked price is called a discount.
Successive Discount: if a product or commodity is sold at two discounts then it is said that it is sold after two successive discounts.
Dishonest Dealing: In this dishonest dealing a person sells a product at the wrong weight and earns a profit. Dishonest dealing can be either false weight or false reading.
- A shopkeeper insists on selling wheat flour at a cost price but uses a false weight of 900 gm instead of 1000gm
Profit and Loss Formula For Bank Exams
Here you will get to know about the profit and loss formula, formula for profit and loss percentage, the formula of profit loss and discount, and more. The profit and loss formula for bank exams is added in this profit and loss formula for bank exams article. Candidates shall exploit the profit and loss formula pdf for bank exams to know more profit and loss formulas such as formula for profit and loss percentage, formula of profit loss and discount, cost price, selling price, etc.,
- Profit or gain = Selling price – Cost Price
- Loss = Cost Price – Selling Price
- Selling Price for profit = SP = ( ( 100 + Profit % ) / 100 ) X CP
- Selling Price for loss = SP = ( ( 100 - Loss % ) / 100 ) X CP
- Cost Price for Profit CP = ( 100 / ( 100 + Profit % ) ) X SP
- Cost Price for Loss CP = ( 100 / ( 100 - Loss % ) X SP
- Discount D = Marked Price (MP) - Selling Price (SP)
- Formula for Profit Percentage % = ( Profit / Cost Price ) X 100
- Formula for Loss Percentage % = ( Loss / Cost Price ) X 100
- Formula of Discount Percentage % = ( Discount / Marked Price ) X 100
- Mark up % = ( Mark up / Cost Price ) X 100
- For false weight, the profit percentage can be calculated by the formula,
Gain % = ( Error / True Value - Error ) X 100 %
Practice Profit and Loss questions - Free PDF
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Profit and Loss Formula With Examples
Here we have given some profit and loss formula with examples by using the profit and loss formula, formula for profit and loss percentage and formula of profit loss and discount for bank exams. Aspirants can make use of these profit and loss formula with examples by solving various types of profit and loss questions by using the profit and loss formula for bank exams. Download the profit and loss formula pdf for bank exams for your future reference.
Example 1: A woman buys a watch for Rs. 1000 and sells it at a loss of 15%. What is the selling price of the watch?
Solution: Cost Price of the watch is Rs.1000
Loss percentage is 15%
As we know, Loss percentage = (Loss/Cost Price) x 100
15 = (Loss/1000) x 100
Therefore, Loss = 150 Rs.
As we know,
Loss = Cost Price – Selling Price
So, Selling Price = Cost Price – Loss
= 1000 – 150
Selling Price of the watch = R.850/-
Example 2: A man bought a fan for $720 and sold it at a loss of 6%. For how much did he sell it?
Solution: Given, CP = $720 and Loss = 6%; Using the profit and loss formulas, we will calculate the selling price of the fan.
If the loss is 6%, it means that if the cost price is $100, the loss incurred is $6.
If CP is $100, SP = $94
If CP is $720, SP = (94/100) × 720 = $676.8
∴ The price for which a man sold the fan (Selling price) = $676.8
We hope that this profit and loss formula will be useful for your upcoming bank exams and other competitive exams. By utilizing this profit and loss formula article, you will get to know about the various profit and loss formula, formula for profit and loss percentage, formula of profit loss and discount and profit and loss formulas with examples for your reference. Keep in touch with our Guidely team to achieve victory in future competitive examinations.
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Profit and Loss Formula For Bank Exams FAQs
Q. What is the formula to find the selling price?
A. Selling Price for profit = SP = ( ( 100 + Profit % ) / 100 ) X CP
Selling Price for loss = SP = ( ( 100 - Loss % ) / 100 ) X CP
Q. What is the formula for finding discount percentage?
A. Discount Percentage % = ( Discount / Marked Price ) X 100
Q. What is the formula for Mark up %?
A. Mark up % = ( Mark up / Cost Price ) X 100
