Consider this problem – “A person sells x eggs and gains the selling price of y eggs. What is his profit percentage?”.
This is a typical example problem on profit and loss. When an item is sold or bought, either a profit is gained or a loss is incurred. In profit and loss problems we deal with the cost price, selling price, percentages, gain, loss etc. The aim of this section is to help you solve problems of this kind. In addition to this, you will also learn to solve problems on faulty balances.
The first lesson in this topic is a brief introduction to profit and loss. We shared some formulae that will be required to tackle problems on profit and loss. The exercises contain solved question and answers on profit, loss and faulty balances. When solving exercises, we recommend you to try solving the problems on your own, that way you will understand better and you can define your own approach to solving problems on Profit and Loss.