Profit and Loss is a very common topic on which at least 1or 2 questions are asked in the maths section of all the exams. There are few terms that we need to recall before actually taking on the questions. If we go the book way; we would need to cram formulae first but, we have tried to make it simple for you.
We would focus more on the way or the technique with which each question asked in the exams can be solved. Eventually, that is what matters!
Profit/Loss % is always calculated on the CP. This is easily remembered than applied by most of the students!!
- SP: Selling Price
- CP: Cost Price
- MP/LP: Marked Price/ List Price
Below are questions explaining the basics. Exam questions and practice questions would be posted regularly in the upcoming articles.
We would provide practice questions on every concept to make them easy to remember!
Good Luck! Happy Studies 🙂