Topic Included: | Formulas, Definitions & Exmaples. |

Main Topic: | Quantitative Aptitude. |

Quantitative Aptitude Sub-topic: | Profit and Loss Aptitude Notes & Questions. |

Questions for practice: | 10 Questions & Answers with Solutions. |

Cost price is the price of an item, at which an item can be purchased.

Selling price is the price of an item, at which an item is sold.

If the cost price (CP) of an item is less than that of selling price (SP) of an item, then the seller always will have Profit or Gain. $$ Profit \ or \ Gain = SP - CP $$

**Example (1):** A man perchased an item for \(Rs.100\), and sold it for \(Rs.120\), then find the profit or loss of the man?

**Solution:** Given, \(CP = Rs.100\), and \(SP = Rs.120\)

Here, selling price is greater than the cost price of the item so there is a Gain.$$ Profit \ or \ Gain = SP - CP $$ $$ Profit \ or \ Gain = 120 - 100 $$ $$ = Rs.20 \ (Answer) $$

**Example (2):** A man sold an item for \(Rs.350\) and gained profit of \(Rs.150\), then find the cost price of the item?

**Solution:** Given, profit = \(Rs.150\), and \(SP = Rs.350\), then.$$ Profit \ or \ Gain = SP - CP $$ $$ 150 = 350 - CP $$ $$ CP = Rs.200 \ (Answer) $$

If the Selling Price (SP) of an item is less than that of Cost Price (CP) of the item, then the seller will have Loss. $$ Loss = CP - SP $$

**Example (1):** A Girl perchased an item for \(Rs.200\), and sold it for \(Rs.150\), then find the profit or loss of the Girl?

**Solution:** Given, \(CP = Rs.200\), and \(SP = Rs.150\)

Here, selling price is less than the cost price of the item so there is a loss.$$ Loss = CP - SP $$ $$ Loss = 200 - 150 $$ $$ = Rs.50 \ (Answer) $$

**Example (2):** A women perchased an item for \(Rs.500\) and sold with the loss of \(Rs.150\), then find the selling price of the item?

**Solution:** Given, \(CP = Rs.500\), and loss \(= Rs.150\), then $$ Loss = CP - SP $$ $$ 150 = 500 - SP $$ $$ SP = Rs.350 \ (Answer) $$

This is the price printed or marked on the item. It is also known as MRP (Maximum Retail Price).

**Note:** In the case of discount, MRP is always treated as 100%.

Lec 1: Introduction
Exercise-1
Lec 2: Profit and Loss Case-1
Exercise-2
Lec 3: Profit and Loss Case-2
Exercise-3
Lec 4: Profit and Loss Case-3
Exercise-4
Lec 5: Case of Discount
Exercise-5