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

Continue complete Profit and Loss Solved Questions

For banking course of SBI, IBPS PO / Clerk Exams, visit www.takshilalearning.comfor more details.

Comments

Allotment of DIN (Director Identification Number)

Allotment of DIN (Director Identification Number) CS professional course : Section 153 of the Companies Act, 2013 read with Rule 9 of the Companies (Appointment and Qualification of Directors) Rules, 2014 Every individual intending to be appointed as a director as a director of a company shall make an application for allotment of Director Identification Number (DIN) to the Central Government in such form and manner and along with such fees as may be prescribed. Rule 9 of Companies (Appointment and Qualification of Directors) Rules, 2014 (1) Every Individual, who is to be appointed as a director of a company shall make an application electronically in Form DIR 3, to the Central Government for the allotment of a DIN along with such fees as provided in the Companies (Registration Offices and Fees) Rules, 2014. (2) The Central Government shall provide an electronic system to facilitate submission of an application for the allotment of DIN through the portal on the MCA21...

PURCHASED GOODWILL METHOD UNDER IND AS 103

The acquisition of subsidiaries results in Goodwill calculation and also records net assets of the subsidiary at fair value on the date of acquisition. Let’s get answers to all the questions related to Goodwill, valuation of NCI, and impairment relating to them. Q1 – What are the ways in which an entity can make payment for purchase consideration? ANS: – Cash – Share exchange – Deferred payment – Contingent consideration Q2 – How is deferred payment dealt, when it forms part of purchase consideration? ANS: The deferred payment is discounted to present value and included in the cost of consideration. At the end of each year, the liability is increased by unwinding the discount, until the payment is settled. For example, An amount of Rs. 108,000 was deferred to be paid after 2 years. The discount rate applicable is 8%. The net present value today of Rs. 108,000 is equal to (108,000 * 1) / (1.08) ^2)= Rs. 92,593 included in purchase consideration. A liability of Rs. 92,59...

Contract of Guarantee important topic for CS Professionals

Contract of Guarantee important topic for CS Professionals For CS Course , Takshila Learning is offering CS Professional online classes for students in an easy, convenient, and simple way through our portal www.takshilalearning.com . It helps students to grab the conceptual knowledge in a different but simple way. CS online classes for CS preparation are a collection of HD-quality recorded lectures with the detailed explanation of the content by experienced and well-known faculties. An interesting topic from Drafting – ‘ Guarantees ’ is discussed below: Guarantees Contract of Guarantee A “ contract of Guarantee ” is a contract to perform the promise, or discharge the liability, of a third person in case of his default. A Guarantee may be either oral or written. Parties involved in the Contract Surety: The person who gives the guarantee is called the “surety”. Principal debtor: The person in respect of whose default the gua...

Takshila Learning - Online Tutorials

Search This Blog