Profit and Loss
Profit and Loss Data Sufficiency problems test your ability to determine if given statements provide enough information to find cost price, selling price, profit percentage, loss percentage, or discount. You must assess sufficiency using profit/loss formulas and discount relationships.
What You'll Learn
Introduction to Profit and Loss
Profit and Loss Data Sufficiency problems test your ability to determine if given statements provide enough information to find cost price, selling price, profit percentage, loss percentage, or discount. You must assess sufficiency using profit/loss formulas and discount relationships.
Prerequisites
How to Solve Profit and Loss Problems
Step 1: Identify what is being asked (CP, SP, profit%, loss%, discount%)
Step 2: Translate each statement into profit/loss equations
Step 3: Check if Statement (1) alone gives a unique answer
Step 4: Check if Statement (2) alone gives a unique answer
Step 5: Combine statements if needed
Step 6: Remember that profit% is always calculated on CP, discount% on MP
Step 7: Select the appropriate DS answer choice
Example Problem
Example: What is the cost price of the article? Statement (1): Selling price is Rs. 1200 and profit is 20%. Statement (2): If sold at Rs. 900, the loss would be 10%. Solution: Step 1: Question asks for cost price Step 2: Statement (1): CP = 1200/1.2 = Rs. 1000 → SUFFICIENT alone Step 3: Statement (2): CP = 900/0.9 = Rs. 1000 → SUFFICIENT alone Answer: Each statement alone is sufficient
Pro Tips & Tricks
- SP + Profit% → CP = SP × 100/(100 + P%)
- SP + Loss% → CP = SP × 100/(100 - L%)
- MP + Discount% → SP = MP × (100 - D%)/100
- Two different SP scenarios for same CP → can find CP by equating expressions
- Profit% and Loss% on same CP with different SPs → can find CP
- If only percentages given (no absolute SP), can find ratio but not absolute CP
Shortcut Methods to Solve Faster
Common Mistakes to Avoid
Practice Worksheets
Practice makes perfect! Work through these worksheets to master Profit and Loss. Each worksheet contains 20 questions with detailed explanations. Start from Worksheet 1 and progress through increasing difficulty levels.
Exam Importance
Profit and Loss is an important topic for various competitive exams. Here's how frequently it appears:
Ready to Master Profit and Loss?
Start with Worksheet 1 and work your way up to expert level! Each worksheet includes: