Successive Discounts of a% and b%: Net discount = a + b − ab/100. Never add discounts directly!
Profit & Loss Shortcut Formulas
SBI POIBPS POSSC CGLRRB
Items to Memorize
- Profit% = (SP−CP)/CP × 100
- Loss% = (CP−SP)/CP × 100
- SP = CP × (100+P%)/100
- Successive Discounts: Net = 100−[d1+d2−(d1×d2)/100]
- If CP of x items = SP of y items, then P% = (x−y)/y × 100
- Dishonest dealer: Gain% = Error/(True Value−Error) × 100
- Marked Price: MP = CP × (100+Markup%)/100
- Discount on MP: SP = MP × (100−D%)/100
- Break-even: No profit no loss when SP = CP
- Two items sold at same SP with P% and L% equal → Always net loss
Mnemonic Tricks
Why It's Faster
This single formula eliminates 3-4 calculation steps. In banking exams, successive discount questions are common and this shortcut saves 30+ seconds per question.
If two items are sold at the SAME price — one at x% profit, other at x% loss — there's ALWAYS a net loss of x²/100 percent.
Why It's Faster
This is a classic trap question in banking exams. Students waste time calculating individual CPs, but the answer is always a fixed loss regardless of the selling price.
Frequently Asked Questions
What is the shortcut for successive discounts?
For two successive discounts a% and b%, the net discount = a + b − (a×b)/100. Example: 20% and 10% successive = 20+10−2 = 28% net discount.
How to solve profit and loss questions quickly?
Memorize the fraction equivalents (10%=1/10, 25%=1/4, 33.33%=1/3) and use the 'CP of x items = SP of y items' shortcut for comparison problems.
What is the dishonest dealer formula?
If a dealer uses a weight of (True−Error) grams instead of True grams, Gain% = Error/(True−Error) × 100.