http://www.freegregmatclass.com/. Profit, Loss & Discount for gmat cat arpit. Manufacturer ( i.e. the producer) Wholesaler (dealer) Retailer (shopkeeper) Customer
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Wholesaler (dealer) Retailer (shopkeeper)
Cost Price – The cost incurred by the manufacture or the wholesaler or the retailer ( i.e. the person who pass on the goods to another)
Selling price – The price at which one person pass on the goods to another .
Profit – The extra money a person receives by selling a product .
Profit = Selling Price (SP) – Cost Price (CP)
Loss – The less amount that a person receives by selling a product.
Loss = CP - SP
Profit Percentage = (Profit/CP) * 100
Loss Percentage = (Loss/CP) * 100
* Profit or loss is always calculated on the basis of cost price unless otherwise mentioned in the problem
Marked Price – The price written on the tag of a product . It may or may not be equal to the SP, depending upon the discount (available or not).
Discount – The amount of money which is to be paid less on the marked price (MP).
Marked Price = CP + Markup
Selling Price = MP – Discount
In general, CP<SP<MP at a profit
CP=SP<MP at no profit no loss
SP<CP<MP at a loss
1.) When two articles are sold at same price but one of them at a profit & another one at a loss & the percentage profit is the same as the percentage loss. In this case there is always a loss.
Loss (%) = (Common gain or loss/ 10)2
2.) When a person recovers the cost price of ‘m’ articles by selling ‘n’ articles (n<m), then
Profit (%) = (goods left/ goods sold) * 100
Simple Interest : Fixed rate of interest on principal (initial amount).
Principal: Initial amount invested /loaned/borrowed.
Amount = Principal + Interest
Compound Interest : It is the interest on interest calculated on each successive period.
R= Rate of Interest (%)
T= Time Period
A = P + (P*R*T)/100 [ for SI only ]
Amount (A) = P(1+r/100)t
Difference b/w CI & SI for two years:
Difference b/w CI & SI for 3 years:
= P(r/100)2 (r/100 + 3)
P = P0 ( 1 + r/100)n when population increases
P0 is the initial population
P = P0 ( 1 - r/100)n when population decreases
A = [ x + (x + (x*r*1)/100) + (x + (x*r*2)/100) + ……………..]
Where X = value of each installment