Profit Loss Tricks for Competitive Exams

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Profit and loss question takes time to solve. Students waste a lot of time while solving these questions in the competitive exam because they face difficulties. So, here I am sharing profit loss tricks for your better performance.

You can save your time in the competitive exams by learning these important tricks that how to solve profit loss questions in a short time. So, continue your practice with these questions to obtain good marks in the exam.


Important Tricks of Profit and Loss:

Cost Price (CP): The money paid by the shopkeeper to the manufacturer or money paid by the customer to the shopkeeper is called the price (CP) of the goods.

Selling Price (SP): The price at which the shopkeeper sells the goods is called the selling price.

Here, I am providing important short tricks so you can easily solve profit and loss questions.

Useful Tricks:

(1) If SP is greater than CP then we have profit, so formula of profit will be =

     SP>CP---- Profit

     Profit = SP-CP

(2) If SP is Less than CP then we have Loss, so formula of Loss will be =

   SP>CP-----Loss

    Loss = CP-SP

(3) Profit and Loss is always counted on CP

 

(4) To solve any question of profit and loss, you have to always assume 

CP = 100%

Q.1. A person incurs 5% loss by selling a watch for Rs. 1140. At what price should the watch be sold to earn 5% profit.

(A) 1320

(B) 1260

(C) 1210

(D) 1350


Ans .   B


Short Trick

CP = 100% {point no. 4, you have to always assume CP=100%)

If CP = 100% and Loss is 25% which mean SP= CP – L%

SP = 100% - 5% = 95%

So, we can say

SP = 95% = 1140

If CP=100% and Profit is 40% Which mean SP= CP+ Profit%

SP= 100%+5%=105%

So, we have to find value of 105% and 105% is equal to

= 1260.

So, New S.P = Rs. 1260.

 

Q.2. A Bought pens at the rate of 15 per rupee and sold them at the rate of 12 for a rupee. His gain percent is

(A) 25%

(B) 26%

(C) 50%

(D) 53%


Ans .   A


Shor Tricks 

We are gating profit here, So

we have to assume bigger number will be SP and Smaller number will be CP.

                               We get ratio of   SP : CP

                                                              15  :  12

                                                                 5   :   4

The difference of 5 : 4 is 1

Profit and loss always counted CP , which means

 

Q.3. If the cost price of 12 orange is equal to selling price of 10 orange. Then the profit or los percentage is :

(A) 10%

(B) 20%

(C) 30%

(D) 35%


Ans .  B


Short Trick 

we have to assume bigger number will be SP and Smaller number will be CP.

                               We get ratio of   SP : CP

                                                              12 : 10

                                                                 6 :  5


The difference of 6 : 5 is 1

Profit and loss always counted CP , which means

 

Q.4. A man sells an article at a profit of 40%. If he had bought it at 40% less and sold for Rs.5 less, he would have gained 50%. Find the cost price of the article.

(a) Rs. 10

(b) Rs. 15

(c) Rs. 20

(d) Rs. 30


Ans .  A


Short Trick 

Let CP = RS. 100, Then SP = 140

New CP = Rs. 60, New SP = 60+30= Rs.90

According to the question.

Rs.(140-90)= Rs. 50 is equivalent to Rs. 5

⸫ Rs. 100 is equivalent to Rs. 10

⸫ CP = Rs. 10.

Q.5. If the cost price is 95% of the selling price, what is the profit percent?

(A) 4

(B) 4.75

(C) 5

(D) 5.26


Ans .  D


Short Trick

Let SP = Rs. 100

⸫ CP = Rs. 95.

Profit = Rs. (100-95)= Rs. 5

⸫ Profit percent =

=  

You can ask me anything related profit loss tricks in the comment section without any hesitation.                                                                                                                    

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