Profit and Loss Tips - Solved Questions

Profit and Loss Tips - Solved Questions 

Profit and Loss Tips

1. The Marked Price (M.P.) is different from the Selling (S.P.),because a shopkeeper has the sole authority/discretion to decide if he wants to sell a product at the Listed Price (L.P.)/Marked Price (M.P.) or at a price lower than that, in which case there would be a discount.
2. Profits and losses are always calculated on the basis of the cost price of the product.
3. When two items are sold at the same S.P with one being sold at x% profit & the other being sold at x% loss, then there is an overall loss percentage that is given by (x2 / 100) %.

Few examples are shared below:

Q. A machine is sold at a profit of 10%. Had it been sold for Rs. 80 less, there would have been a loss of 10%. The cost price of the machine is: 

Q2. The marked price of a trouser is Rs. 690. The shopkeeper allows a discount of 10% and gains 8%. If no discount is allowed, his gain per cent would be 

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