Quantitative Aptitude Problem 1 Profit or Loss Percentage

How to Calculate Profit or Loss Percentage? Step-by-Step Solution with Formula

Question:

The profit obtained by selling a product for ₹2500 is the same as the loss incurred when selling it for ₹1900. If the product is sold for ₹2400, what is the profit or loss percentage?

Step-by-Step Solution:

Step 1: Understanding the Given Condition

Let the cost price (CP) of the product be ₹x.

• Profit at ₹2500 = Loss at ₹1900
• This means: $$2500 - x = x - 1900$$

Step 2: Finding the Cost Price

Solving for x:

$$2x = 4400$$ $$x = 2200$$

So, the cost price of the product is ₹2200.

Step 3: Finding Profit or Loss at ₹2400

• Selling Price (SP) = ₹2400
• Since SP > CP, there is a profit: $$\text{Profit} = 2400 - 2200 = 200$$

Step 4: Calculating Profit Percentage

$$\left( \frac{200}{2200} \right) \times 100 = 9.09\%$$

Final Answer:

Profit of 9.09 percent when selling at ₹2400.

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