Profit and Loss Tips - Solved Questions

Profit and Loss Tips

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.
Profits and losses are always calculated on the basis of the cost price of the product.
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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