How to Solve Profit and Loss Type Questions in your IBPS Exam

To be able to successful make it to the interview round of your IBPS recruitment process, you need to perform well in your common written exam. One of the most challenging sections in your CWE is the quantitative section that puts to test your arithmetic aptitude and your ability to solve math problems within the given time limit.

A common type of question that you will be expected to work on for the exam is Profit and Loss type questions. Your IBPS coaching in Delhi will be able help you master techniques that are time saving and improve your chances of arriving at accurate answers efficiently.

Common Profit and Loss Questions 

Most often, IBPS candidates are asked P&L questions where either the selling price of two articles or the cost price of the two articles are the same. Here, the profit percentage on article will be the same as the loss percentage of the other. As a candidate, you will be expected to work out the overall profit or loss incurred in the transaction in question.

For instance, a shopkeeper bought two books for INR800 each. He sold one book for a 12% profit and the other for a loss of 12%. What was the overall profit or loss the shopkeeper made on the transaction?

Here, you must understand that selling the book at 12% profit equates to a sale price of 112% of the cost price. This means that the first fan has been sold for INR896. Similarly, the second book was sold for a loss of 12%, meaning at 88% of the cost price, equalling to INR704. The selling price of both books works out to INR1600 while the total cost price given is also INR1600. This answer to this question is that the shopkeeper made no profit or loss in the transaction.

Concluding this Type of Question 

You may have noted by now that every time you come across a problem where the cost price of the two articles is the same and the profit percentage is also the same as the loss percentage, you needn’t go through the process of solving the problem. The answer is invariably – no profit, no loss. If these conditions are not met, you will have to solve the question in parts and arrive at the correct answer.

The best way for you to ace this type of question is by practice. Sign up with the best bank PO coaching in east Delhi and you will be able to master a variety of tips and tricks that not only help you solve P&L questions but other time consuming problems in your quantitative as well as logical reasoning sections.