Aptitude test shortcuts

APTITUDE SHORTCUTS ON PROFIT AND LOSS

Now we are going to start the Second Module on Maths Shortcuts in which we discussed about Profit and Loss Shortcuts. Approximately two or three question in every bank exam or in other Government job exam such as SSC CGL exam surly comes from this topic of Profit and Loss. So learn these shortcut tricks to solve the maths problem in just few seconds. Here is the first one Shortcut for Profit and Loss Method.

 

SHORTCUT (1): To find out the selling price in any item in any given question we have to use the following shortcut formula:

Selling Price (sp) = (100 +  (gain/loss)) /100 * Cost Price (CP)

Now by using the above formula we can solve any maths problem related to profit and loss within few second. Lest see some example related to this formula:

 

Example (1): A person bought a bicycle for Rs 250. For how much should he sell it so as to gain 10% profit on it?

Solution: In this problem we have to find out the selling price for which the person will get the 10% profit. So by using the Maths Shortcut (1) we have:

Selling Price (SP) = (100 + 10)/100 * 250

                       = 275 (So selling price should be this one to gain the 10% profit on it)

 

 

Example (2): A shopkeeper purchased a Book for Rs 560. For how much he should sell it so he gets 10% loss on it.

Solution: Again by using the Maths Shortcut (1). But in this we have to find out the selling price so that loss occur so we have to use subtraction as shown below in the solution.

Selling Price = (100 – 10) / 100* 560

                      = 504.

 

 

Percentage Shortcut (2):  If the price of the any product isincreased or decreased by “r%” then there is decrease in the consumption so as not to increase the expenditure:   “ r/100+ r *100”, (We add when there is increase and subtract when there is decrease in percentage).

 

Now we will take four different examples with different problems to make this percentage shortcut concept clear to you. So take a deep look into this and understand it properly.

 

Example 1: Suppose if the price of salt falls down by 10%. Now how much percent (%) must increased by the householder so that its consumption remain same as there is no decrease the expenditure.

Solution: By using percentage shortcut (2):

The increase in consumption= 10/100-10*100

                                                          =11.11% (Increase the Consumption)

 

Example 2: If the employee A’s salary is 25% more than the employee B. Then how much percent (%) the salary of B's is less than that of  salary of employee A.

Solution: Again by using the Percentage Shortcut (2) we have the following:

B's salary is less than that of employee A salary =25/100+25*100

                                                 =20 %(B salary is 20% less than the salary of A)

 

Example 3: Now if the employee A's salary is 30% less than that of B then how much percent is B's salary is more than that of employee A.

Solution:  Employee B's salary is more than that of A= 30/100-30*100

                                      =42 %(Employee B salary is 42% is more than Employee A)

 

Example 4: The price of Diesel is increased by 30%. By how much Diesel a car owner must reduce his consumption in order to maintain the same budget.

Solution: Reduction in consumption of diesel: 30/100+30*100

                                                        = 300/13 %( Reduction in the consumption)