Profit, Loss and Discount as well as Simple and Compound Interest are two of the easiest topics in quantitative section. Every year, a small number of questions appear from each of these sections and good students should aim to get all the questions right from these topics. The number of concepts in these topics is limited and most of the problems can be solved by applying the formulae directly. Many students commit silly mistakes in this topic due to complacency and this should be avoided.
The cost price of an article is C.P, the selling price is S.P and the marked price is M.P
A dishonest dealer claims to sell his goods at cost price, but he uses a weight of lesser weight, then the gain% = $$=\ \ \frac{\ true\ weight\ -\ false\ weight}{false\ weight}\times\ 100\%$$
A dishonest dealer sells an item at a profit of x % and uses a weight that is y % less, then the gain% $$=\ \ \frac{\ \%\ profit\ +\ \%\ less\ in\ weight}{100-\ \%\ less\ in\ weight}\times\ 100\%$$
When there are two successive profits of $$x\%$$ and $$y\%$$ then the net percentage profit $$=\ \dfrac{\ x+y+xy}{100}$$.
When there is a profit of $$x\%$$ and loss of $$y\%$$ then net percentage profit or loss $$=\ \dfrac{\ x-y-xy}{100}$$
If the original price of a product is P and an increase of x% is made, the resultant price of the product will be $$P(1+\frac{x}{100})$$
Similarly, if the original price of a product is P and a decrease of x% is made, the resultant price of the product will be $$P(1-\frac{x}{100})$$
Profit is shared in the ratio of (investment × time).
If A invests $$C_1$$ for $$T_1$$ months and B invests $$C_2$$ for $$T_2$$ months:
$$\text{Profit of A : Profit of B} = C_1 \times T_1 : C_2 \times T_2$$
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