Profit and Loss is a fundamental concept in commercial mathematics. It is a core part of the Class 8 Maths syllabus and a highly tested topic in all competitive aptitude exams (SSC, Banking, Railways).
If a person sells two similar items at the same price (SP), making a profit of x% on one and a loss of x% on the other, there is ALWAYS an overall loss. The overall Loss % = (x² / 100).
Crucial Rule: Profit% and Loss% are ALWAYS calculated on the Cost Price (CP), unless stated otherwise.
Q: A man buys a watch for ₹500 and sells it for ₹600. Find his profit percentage.
Q: A shopkeeper buys a bag for ₹800. He wants to make a profit of 15%. What should be the selling price?
CP = SP × 100 / (100 - Loss%) CP = 720 × 100 / 90 = **₹800**.
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