Profit and Loss definition, formula, previous year question

Cost price

The price at which an product is purchased is called a cost price(C.P)

Selling price

The price at which an product is sold is called selling price(S.P)

Profit (or) Gain

The price is compared for selling price is greater than cost price therefore, seller get a profit

LOSS

The price is compared for selling price is lesser than cost price therefore, seller get a loss

FORMULA

( i )Profit (or)Gain = (S.P) – (C.P)

( ii )Loss = (C.P) – (S.P)

( iii ) \text{Gain} \% = (\frac{Gain}{C.P} \times 100) \% \\

( iv ) \text{Loss} \% = (\frac{Loss}{C.P} \times 100) \% \\

( v ) \text { S.P. }=\left(\frac{100+\operatorname{gain} \%}{100}\right) \times(\text { C.P. }) \\

( vi ) \text { S.P. }=\left(\frac{100-\operatorname{loss} \%}{100}\right) \times(\text { C.P. }) \\

( vii ) \text { C.P. }=\left(\frac{100}{100+\text { gain } \%}\right) \times \text { (S.P.) } \\

( viii ) \text { C.P. }=\left(\frac{100}{100-\text { loss } \%}\right) \times \text { (S.P.) } \\

( ix ) Discount = M.P – S.P

M.P = MARKET PRICE

\text{Discount} = \frac{\text{Discount}}{\text{M.P}} \times 100 \\
Find the goods percentage of gain
\text{Gain}\% = \frac{\text{x-y}}{\text{y}} \times 100 \\
Find the goods percentage of loss
\text{loss}\% = \frac{\text{y-x}}{\text{y}} \times 100 \\
When a seller sell a two similar product one at a gain(x1) and other at a loss(x2) its two similar product is denoted x find value of loss percentage
\text{Loss}\% = (\frac{\text{x}}{10})^2 \\
QUESTION 01

Mansi purchased a car for Rs.2,50,000 and sold it for Rs.3,48,000. What is the percent profit she made on the car?

மான்சி ஒரு காரை ரூ. 2,50,000 மற்றும் 3,48,000 ரூபாய்க்கு விற்றார். அவள் காரில் பெற்ற லாபம் என்ன?

ANSWER

C.P = RS.250000

S.P = RS.348000

Profit = RS.(348000 – 250000)

Profit = RS.98000

\text{Profit} \% = (\frac{Profit}{C.P} \times 100) \% \\ \text{Profit} \% = (\frac{98000}{250000} \times 100) \% \\

Profit % = 39.2%

QUESTION 02

Ramesh purchased a pen for Rs.5 and sold it for Rs.4 What is the percent loss he made on the pen?

ரமேஷ் ஒரு பேனாவை ரூ.5க்கு வாங்கி அதை ரூ.4க்கு விற்ற பேனாவில் அவர் செய்த நஷ்டம் என்ன?

ANSWER

Loss = (C.P) – (S.P)

C.P = RS.5

S.P = RS.4

Loss = 5 – 4

Loss = RS.1

\text{Loss} \% = (\frac{Loss}{C.P} \times 100) \% \\ \text{Loss} \% = (\frac{1}{5} \times 100) \% \\

Loss % = 20%

QUESTION 03

A television manufacturer earns 20% profit by selling each T.V. set for Rs.14400. If the production cost is increased by 15%, what should be the new selling price of a set so as to gain 15%?

ஒரு தொலைக்காட்சி உற்பத்தியாளர் ஒவ்வொரு டிவி செட்டையும் ரூ.14400க்கு விற்பதன் மூலம் 20% லாபம் பெறுகிறார். உற்பத்திச் செலவு 15% அதிகரித்தது, 15% லாபம் பெற, ஒரு தொகுப்பின் புதிய விற்பனை விலை என்னவாக இருக்க வேண்டும்?

ANSWER

S.P = RS.14400

Profit = 20%

\text { C.P. }=\left(\frac{100}{100+\text { gain } \%}\right) \times \text { (S.P.) } \\ \text { C.P. }=\left(\frac{100}{100+20}\right) \times (14400) \\ \text { C.P. }=\left(\frac{100}{120 } \right) \times (14400) \\

C.P = RS.12000

NEW C.P = \frac{115}{100} \times 12000 \\

NEW C.P = 13800

Gain = 15%

\text { S.P. }=\left(\frac{100+\operatorname{gain} \%}{100}\right) \times(\text { C.P. }) \\ \text { S.P. }=\left(\frac{100+15}{100}\right) \times 13800 \\ \text { S.P. }=\left(\frac{115}{100}\right) \times13800\\

S.P = RS.15870

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