The Profit and Loss chapter forms an important concept in Maths. Also we can find lots of questions being asked in Quants sections in various competitive exams like IBPS PO, IBPS Clerk, RRB PO and Clerk, SBI PO, SBI Clerk, related to this concept. So given below are some basics about Profit and Loss which will help you to understand this chapter in an easy and simple way along with some basic Profit and Loss formulas. Profit and Loss concept is used to determine the price of a commodity in the market and understand how much profit/loss a business has suffered. Every product or commodity has a cost price, selling price, and market price. Using these prices we calculate whether a loss has occurred or profit has been gained. So given below are some basic terms that are used in Profit and Loss problems.

• Question : 1

The marked price of an article is ₹600. After allowing a discount of 25% on the marked price, there was a loss of ₹30. The loss percentage is:

• Question : 2

By selling 72 articles, a loss equal to the selling price of 8 articles was incurred. What is the loss percentage?

• Question : 3

A man purchases some number of articles at Rs.729000 and he sells  4/9th  of them at 7.5% loss.  what profit % did he sell the remaining article to gain 5% over all?

• Question : 4

A person bought an article and sold it at a loss of 15%. If he had bought it for 20% less and sold it for Rs114 more he would have had profit of 30%. Find the cost price of the articles?

• Question : 5

A shopkeeper marks his goods 60% above the CP and gives 25% discount to customer. At the time of selling the goods he uses 800gm weight instead of 1 kg and at the time buying the goods he uses 1100gm instead of 1kg. Find his profit %