Profit and Loss
Transcript: PROFIT AND LOSS Hi! BY KAUSTUBH PROFIT AND LOSS PROFIT AND LOSS US Govt. manufactures a weapon at a cost of 1 million dollars and sells it to North Korea at 1.5 million dollars. Find the Profit/ Loss, and Profit/ Loss percentage. Basic North Korea sells it at 1.2 million dollars. Find the Profit/ Loss, and Profit/ Loss percentage. Cost Price -> 1 million Selling Price -> 1.5 million Profit => 1.5 - 1 => 0.5 million dollars. Profit% => (Profit) * 100 => 50% Cost Price Cost Price -> 1.5 million Selling Price -> 1.2 million Loss => 1.5 - 1.2 => 0.3 million dollars. Loss% => (Loss) * 100 => 20% Cost Price Ron buys a wand for $100. He marks the wand at $150 and offers it to Hermione. Hermione being smart, asks for a discount and Ron gives her a 20% discount. Find the profit/loss for Ron and the marked price, discount and selling price . Marked Price Ron's profit (Since SP > CP) => 120 - 100 => $20 Profit% => 20% To back-calculate => Discount% = Discount * 100 Marked Price => 30 * 100 => 20% 150 Cost Price for Ron -> $100 Marked Price -> $150 20% is on the marked price. (20/100) * MP => $30 (discount) SP => Marked Price - Discount => 150 - 30 => $120 You get a discount of 10% on your jeans. You bargain and you get an additional discount of 20%. What is the selling price of your jeans if it was marked at $200. Successive Discounts Quickest way: 200 * 90 * 80 100 100 10% off on $200 is $20. So, $200 - $20 => $180. Then 20% off on 180 is $36. So, $180 - $36 => $144. Quick way: Giving a 10% discount is effectively making it 90% of its original price. Or 45% discount is making it 55% of its original price. So, to get it quickly, 90% of 200 => $180. 80% of 180 => $144 Quick Tips When no numbers are given and answer is in %, assume cost price to be $100. Tips Marking up a price means increasing the existing price Don't assume overall profit or loss as cost prices are dynamic. Title SEQUENCES AND SERIES NEXT :