Aptitude
Important notes and formula
The price at which an item/article is purchased is called the cost price and it is written as CP.
The price at which an item/article is sold is called the selling price and it is written as SP.
If a seller is able to sell an item/article at a price more than its cost price i.e., when SP > CP it is called a profit.
If a seller is not able to sell an item/article at a price more than its cost price i.e., when SP < CP it is called a loss.
If a seller is able to sell an item/article at a price equal to cost price i.e., when SP = CP then there is no profit or loss and we say its at par.
Gain or Profit = SP - CP
Loss = CP - SP
| Profit % = | Profit x 100 | ||
| CP |
| Loss % = | Loss x 100 | ||
| CP |
| CP = | 100 | x SP | |
| 100 + Gain% |
| CP = | 100 | x SP | |
| 100 - Loss% |
| SP = | (100 + Gain%) | x CP | |
| 100 |
| SP = | (100 - Loss%) | x CP | |
| 100 |
If an item/article is sold at a profit/gain of 20% then SP = (100 + 20)% of CP.
= 120% of CP.
If an item/article is sold at a loss of 20% then SP = (100 - 20)% of CP.
= 80% of CP.
A seller sells two similar items, one at a profit of X% and another at a loss of X% so, the seller will always incurs a loss.
| Loss% = | X2 | ||
| 100 |
If a seller sells item at Cost Price (CP) but using false weight then he always makes a profit.
| Profit% = | Error x 100 | % | |
| CorrectValue - Error |