Already we have posted two posts about profit and loss chapter 1) The basic concept and shortcut formula, and 2) Shortcut formula and aptitude question with the tricky solution. If you have not visited the previous two tutorials then we highly recommend you, please visit both pages. Now we are looking forward to the formula to find selling price and cost price where Gain percentage and cost price are given in the math question. All the solutions will be in the tricky methods to save time in the competitive examination hall. Because our main goal is to solve math in less time using math tricks to save time in the competitive exam hall. Here we will take the data in math questions to calculate easily because here, we just learning shortcuts formulas and memorizing formulas of profit and loss.
The formula for Selling Price: Profit & Loss
When the gain percentage is given in the question then we will use the formula {(100+Gain%)/100}*C.PWhen loss percentage is given in question then, we will use the formula
{(100-loss%)/100}*C.P
Example questions on Selling Price from Profit and Loss
Example question 1:-
A mobile seller sells an Android mobile at the profit of 10. If the cost price of the mobile was 5000, then find the selling price.
Solution:-
In this question, we have new the profit Gain% (profit) and cost price 5000. To get Cost Price we will put the value into the formula and calculate the Cost Price.
Let’s see
{(100+Gain%)/100}*C.P
{(100+10)/100}*5000 ={110/100}*5000
=110*50 =5500.
This kind of calculation, you can calculate easily without any copy pen. But, when you have to calculate a decimal number or a big number then it will be helpful for you.
Look at another example when a seller sells any product in the loss, then how to calculate the Selling price!
Solved Question of profit and loss
An electronic projector seller sells a projector at a loss of 20%. If the cost price of the projector was Rs 20,000 then find the selling price.Like as previous question solution we will put the value in the formula. In the previous question of the math, the seller was sold the product at profit, but here the shopkeeper sold in the loss. So here will change in the formula ‘-loss’ percentage in place of ‘+Gain’ percentage. Let’s see the formula solution-
{(100-loss%)/100}*C.P
={(100-20)/100}*20,000
={80/100}*20,000
=80*200 = 16000
Read more on Profit and loss
⇨ The core concept and shortcut
⇨Aptitude and solution
⇔ Aptitude tricks exam level
I hope you have learned the formula very well. We have just discussed two formulas that will help you in your upcoming examination like SSC CHSL, SSC CGL, PSC, I.B, RAILWAY RECRUITMENT, Banking examination, and many more upcoming competitive examinations. Here we are not ending this chapter. We have learned more formulas to answer any math problem from the chapter Profit and Loss. It was the 3rd tutorial based on profit and loss. Inviting you to our next Profit and Loss math tutorial where we will discuss the Cost price where a seller sells any product in Loss or profit and the Selling Price declares in the Question. In this way, we will cover all formulas of the profit and loss chapter and then we will solve some important math questions that may ask for the competitive examination. And we have made a section named competitive math where we solve advanced-level math by math tricks. Where we post the most important math with the tricky solution by shortcut formula. You may visit the competitive math page if you do need more profit and loss aptitude tricks.
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