GMAT/GRE/CAT Profit loss & SI CI(Retake) Class 8
Description
This class will cover toughest question of profit and loss for you. The class is intended for all those who are giving GRE GMAT CAT or PO exams.
We will talk in detail about the theory and solve around 20-30 questions of different type covering all questions possible for the exam. We will see how we can use 30 ses, 2 min and 3 min techniques to solve the same question using common sense and pre computation of answer using maths.
Presentation Transcript
Profit, Loss & Discountfor gmat catarpit : Profit, Loss & Discountfor gmat catarpit http://www.freegregmatclass.com/
Slide 2 : Manufacturer ( i.e. the producer)
Wholesaler (dealer) Retailer (shopkeeper)
Customer
Cost Price – The cost incurred by the manufacture or the wholesaler or the retailer ( i.e. the person who pass on the goods to another)
Slide 3 : Selling price – The price at which one person pass on the goods to another .
Profit – The extra money a person receives by selling a product .
Profit = Selling Price (SP) – Cost Price (CP)
Loss – The less amount that a person receives by selling a product.
Loss = CP - SP
Slide 4 : Important Formulae:
Profit Percentage = (Profit/CP) * 100
Loss Percentage = (Loss/CP) * 100
* Profit or loss is always calculated on the basis of cost price unless otherwise mentioned in the problem
Slide 5 : Marked Price – The price written on the tag of a product . It may or may not be equal to the SP, depending upon the discount (available or not).
Discount – The amount of money which is to be paid less on the marked price (MP).
Marked Price = CP + Markup
Selling Price = MP – Discount
In general, CPSlide 6 : Some Important Concepts:
1.) When two articles are sold at same price but one of them at a profit & another one at a loss & the percentage profit is the same as the percentage loss. In this case there is always a loss.
Loss (%) = (Common gain or loss/ 10)2
Slide 7 : 2.) When a person recovers the cost price of ‘m’ articles by selling ‘n’ articles (nSlide 8 : CI/SI/ Instalments:
Simple Interest : Fixed rate of interest on principal (initial amount).
Principal: Initial amount invested /loaned/borrowed.
Amount = Principal + Interest
Compound Interest : It is the interest on interest calculated on each successive period.
Slide 9 : Simple Interest (SI) = (P*R*T)/100
Where,
P= Principal
R= Rate of Interest (%)
T= Time Period
A = P + (P*R*T)/100 [ for SI only ]
Slide 10 : Conversion of Time Period –Rate of Interest
Slide 11 : Compound Interest (CI) = A- P
Amount (A) = P(1+r/100)t
Difference b/w CI & SI for two years:
= P(r/100)2
Difference b/w CI & SI for 3 years:
= P(r/100)2 (r/100 + 3)
Slide 12 : Population Questions :
P = P0 ( 1 + r/100)n when population increases
P0 is the initial population
P = P0 ( 1 - r/100)n when population decreases
Slide 13 : Installments:
For SI
A = [ x + (x + (x*r*1)/100) + (x + (x*r*2)/100) + ……………..]
Where X = value of each installment
Slide 14 : THANK
YOU
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