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Profit and Loss other formulas and examples

Successive Discount:

When two successive discounts on an article are m% and n% respectively given by shopkeeper. Then net discount is

Example 1

A shopkeeper has given two successive discounts of 20% and 10% on a certain article. Find the real discount?

Solution:

Let Marked Price is Rs. 100

Cost after 1st discount of 20%

= 100 – 20% of 100 Rs.

= 100 – 20 Rs.

= 80 Rs.

2nd discount is 10%

So, Cost after 2nd discount of 10%

= 80 – 10 % of 80 Rs.

= 80 – 8 Rs.

= 72 Rs.

Now using shortcut formula,

When the selling price of two articles are same but one of them sold at a Profit and another sold at a loss. For this case there will be always a net loss.

Example 2

Shopkeeper sells two watches each at RS. 100. The first one he sells at 10% profit and the other one he sells at 20% loss. Find the percentage profit or loss and Net amount of profit or loss?

Solution:

Total selling Price = 100 X 2 Rs = 200 Rs.

Cost price of 1st watch is 

Cost Price of 2nd watch is 

Here CP > SP so,

Now with the shortcut method,

Dishonest shopkeeper case:

If a shopkeeper sells his goods at a cost price but he uses false weight then.

Example 3

A dishonest shopkeeper sells goods at his cost price but uses a weight of 420 gm instead of 500 gm. Find his gain percent.

Solution:

When the selling price of articles is same as the cost price of y similar articles.

Example 4

If the cost price of 15 pencils is the same as the selling price of 12 pencils. Find the gain or loss percent?

Solution:

Cost price of 15 pencils = Selling price of 12 pencils

CP X 15 = SP X 12

Now SP > CP So, there will be profit.

Now assume CP = 4, then SP = 5

Example  5 

If the cost price of 15 eggs is the same as the selling price of 20 eggs, what is the gain or loss percent?

Solution:

When a person recovers the cost price of x articles by selling y same articles (y < x) the profit percent = 

For calculation always assume CP of an article as RS 1 or RS 100

Example 6

A seller selling 8 pencils gets the cost price of 10 oranges. What is the percentage profit?

Solution:

Alternative method

Assume CP of one pencil = Rs 1

CP of 8 pencils = Rs 8

SP of 8 Pencils = Cost price of 10 Pencils = 10 Rs.