Pro t, Loss and Interest

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Theory

Pro t, Loss and Discount as well as Simple and Compound Interest are two of the
easiest topics in quantitative section. Every year, a small number of questions appear
from each of these sections and good students should aim to get all the questions right
from these topics. The number of concepts in these topics is limited and most of the
problems can be solved by applying the formulae directly. Many students commit silly
mistakes in this topic due to complacency and this should be avoided.

Formula

The cost price of an article is C.P, the selling price is S.P and the marked price is M.P

Pro t (Loss) = S.P – C.P

% Pro t (Loss) = Pro t (Loss)/C.P *100
Discount = M.P – S.P
% Discount = Discount/M.P * 100
Total increase in price due to two subsequent increases of X% and Y% is
(X+Y+XY/100)%

Formula

The principal amount is P, rate of interest is R and time of loan is T

Simple Interest = P ∗T
100
∗R

Amount = Principal + Simple Interest

Compound Interest = P (1 + 100
R T
) -P
For the same principal, positive rate of interest and time period, the compound
interest on the loan is always greater than the simple interest.

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