# Profit Loss Tricks for Competitive Exams

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.

After learning tricks you can know **Profit Loss Formulas** if you have doubt any formula in which questions have been sorted out with formula.

**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.