Profit and Loss Tricks:
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Profit% = (SP - CP / CP) *100
Loss% = (CP - SP/CP)*100
Examples:
1Q. : Bala buys chess boards in bulk for 15 each. He sells them for 40 each. Calculate the profit on each board in rupees, and as a percentage of the cost price.
SOL: Given:
cost price = 15,
selling price = 40,
profit = selling price - cost price
40 – 15 = 25
Profit % = 25*100/15 = 166.7%
