Profit and Loss Shortcut Tricks
Shortcut tricks on profit and loss are one of the most important topics in exams. Competitive exams are all about time. If you know how to manage time then you will surely do great in your exam. Most of us miss this thing. Here in this page we give few examples on profit and loss shortcut tricks
Before doing anything we recommend you to do a math practice set. Choose any twenty math problems and write it down on a page. Using basic math formula do first ten maths of that page. You also need to keep track of the time. After solving all ten math questions write down total time taken by you to solve those questions. Now read our examples on profit and loss shortcut tricks and practice few questions. After finishing this do remaining questions using profit and loss shortcut tricks. Again keep track of Timing. This time you will surely see improvement in your timing. But this is not all you need. If you need to improve your timing more then you need to practice more.
Few Important things to Remember
We all know that the most important thing in competitive exams is Mathematics. That doesn’t mean that other topics are less important. You can get a good score only if you get a good score in math section. And, you can get a good score only by practicing more and more. You should do your math problems within time with correctness, and you can do this only by using shortcut tricks. But it doesn’t mean that you can’t do math problems without using any shortcut tricks. You may have that potential that you may do maths within time without using any shortcut tricks. But so many other people may not do the same. So these shortcut tricks here for those people.
Here in this page we try to put all types of shortcut tricks on profit and loss. But it possible we miss any. We appreciate if you share that with us. Your little help will help so many needy.
Now we will discuss some basic ideas of Profit and Loss. On the basis of these ideas we will learn trick and tips of profit and loss shortcut. If you think that how to solve profit and loss questions using shortcut tricks, then further studies will help you to do so.
Profit and Loss Shortcut tricks
Before going to chapter we are follow some important facts and formula without this we are not able to calculate any profit or loss on any articles using shortcut tricks. When we purchase some item and then sell it we make profit or loss some time it depends on the cost price and selling price of an particular item. This type of problem are given in Quantitative Aptitude which is a very essential paper in banking exam. Under below given some more example for your better practice.
Anything we learn in our school days was basics and that is well enough for passing our school exams. Now the time has come to learn for our competitive exams. For this we need our basics but also we have to learn something new. That’s where shortcut tricks are comes into action .
Cost Price or CP
The Price at which a particular item or article is purchased, is called its Cost Price or in short called CP. Cost price is amount of money goes out from us when purchase any article or any particular item.
Selling Price or SP
The price at which a particular item or article is sold, called its Selling Price or in short called SP.
Selling Price is a amount of money came in when selling by any thing.
Profit or Gain
If Selling Price or SP of an item is more than Cost Price or CP, then vendor is said to have a Profit or Gain.
If Selling Price or SP of an item is less than Cost Price or CP, the vendor said to have a Loss.
When we purchase any item we saw the label on it as price or marked Price and that is said to be Marked Price or MP.
Some Important Formulas
If Selling Price is more than Cost Price then it is called Profit or Gain.
Gain = SP – CP
15% Profit on an item means,
Cost price = 100%
Selling price = 115%
Profit = 15%
If Cost Price is more than Selling Price then it is called Loss.
Loss = CP – SP
15% Loss on an item means,
Cost price = 100%
Selling price = 85%
Loss = 15%
Profit and Loss is always calculated on Cost Price or CP.
Different types of Profit and Loss Shortcut Tricks
- Profit or Gain percent Shortcut tricks
- Loss percent Shortcut tricks
- Find selling Price Profit and Loss (Shortcut tricks)
- Find cost price Profit and Loss (Shortcut tricks)
- Hard Example of Profit and Loss
- Profit and Loss Example 1
- Profit and Loss Example 2
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