Find Profit & Loss Percent

Duration: 10 min

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Inside: a video lesson and guided study material.

Module outline

  1. English Comprehension: Comprehension / Reading Comprehension / Unseen Passages (Critical Reasoning) (Paragraph Questions), Reading Comprehension, Vocabulary, Idioms and Phrases, Narrative Sequencing, Critical Reasoning
  2. Reasoning and Aptitude: Series (Number and Letter Series) (Numerical Relations and Reasoning), Coding Decoding, Analogy, Non Verbal Reasoning (Spatial Aptitude) (Spatial Reasoning) (Visual Reasoning), Blood Relations, Directions (Direction Test), Ranking, Order and Sequence, Logical Sequence Of Words, Seating Arrangements, Puzzle Solving (Puzzles), Syllogisms, Deductive and Inductive Reasoning (Logical Deduction and Induction) (Prepositional Reasoning), Data Sufficiency, Selection Decision Table (Decision Making), Calendar, Clock, Cubes & Dices, Data Arrangement, Venn Diagram, Analytical Reasoning (Counting Figures Reasoning), Number System, HCF LCM, Percentage, Ratio and Proportion (Ratios), Average, Profit and Loss, Simple Interest and Compound Interest, Speed Time and Distance, Mensuration and Geometry, Arithmetic, Mixture and Alligation, Age Problems, Data Interpretation, Alphabet and Word Tests, Numerical Reasoning, Number System, Averages, Mixtures and Alligation, Percentages, Series Completion, Analogy and Classification, Patterns in Two-Dimensional Figures, Coding and Decoding, Mathematical Operations, Direction Sense, Logical Deduction and Induction, Simplification and Approximation, Assembling and Grouping of Shapes, Transformation of Shapes, Three-Dimensional Patterns and Visualization, Cubes and Dice, Algebra, Traverse Surveying, Clocks and Calendars, Order, Ranking and Sequence, Constraint Puzzles, Syllogisms and Venn Diagrams, Ratio and Proportion, Mensuration, Permutations and Combinations, Project Monitoring, Resources and Safety, Profit, Loss and Discount, Sequences and Series, Powers, Surds and Logarithms, Subject-Verb Agreement, Sentence Completion, Geometry, Probability, Trigonometry, Measurement and Quantity Take-Off, Statistics, Data Sufficiency, Blood Relations, Speed, Time and Distance, Time and Work, Data Interpretation, Sequence and Series (Series), Algebra, Permutation and Combination, Combinatorics
  3. General Awareness: Physics, Chemistry, Biology, Geography, History, Polity, Indian Economy
  4. Computer Fundamentals: Basics of COA, Number System, Number Representation, Semiconductor Memories and Programmable Logic, Timing, Hazards and Testing, Processor Organization and Instructions, Number Systems and Codes, Combinational Logic Design, Combinational Logic Circuits, Number Systems and Codes
  5. Operating System: Introduction to OS, Unix OS, Linux OS
  6. C Programming: C Fundamentals, Control Flow, Functions, Arrays & Pointers, Storage Classes, Structures & Enums, DMA, Macros, Scoping & File Handling
  7. OOPS with C++ & Java: OOPS with C++, Java
  8. Database Management System: Basics of DBMS, SQL
  9. MS Office: MS Office Applications
  10. Internet & Web Technologies: Website, Browser & Services, Internet Fundamentals, Web Design & Development, Protocols & Services
AI summary & chapters

AI Summary

An AI-generated summary of this video lecture.

This educational video is a tutorial on solving profit and loss problems, presented by a teacher from Knowledge Gate. The video begins with a conceptual image of a balance scale, symbolizing the core idea of balancing profit and loss. The main content consists of two problems. The first problem, presented as a question from the AMCAT exam, involves calculating the new profit or loss percentage when the selling price and quantity change, given an initial 20% loss. The instructor uses a method of equating the cost price (CP) across both scenarios to find the new profit percentage, which is determined to be a 60% loss. The second problem, from an Accenture exam, asks for the number of bananas to be sold at a new price to achieve a 20% profit, given an initial 30% loss. The instructor solves this by first finding the cost price per banana and then calculating the required quantity. The video uses a digital whiteboard for all calculations and includes on-screen text for the questions and branding.

Chapters

  1. 0:00 – 2:00 00:00-02:00

    The video opens with a conceptual image of a white 3D figure standing on a balance scale, with the word "PROFIT" in green on the left side and "LOSS" in red on the right, visually representing the core concept of profit and loss. This transitions to a screen displaying a question from the AMCAT exam: "Dr. Salunkhe of CID encounters 20% loss on selling 50 Corona Vaccine at Rs. 600. Now on selling 80 Vaccines for Rs. 480, what is the loss percent or profit percent?" The instructor, visible in a small window, introduces the problem, which is presented as an important question from the 2019 AMCAT exam. The on-screen text also includes a humorous news headline about Dr. Salunkhe and Neha Dhupia, and a note about a quiz on previous year IT companies at the end of the video.

  2. 2:00 – 5:00 02:00-05:00

    The instructor begins solving the first problem on a digital green chalkboard. He starts by writing the formula for cost price (CP) in terms of selling price (SP) and loss percentage: CP = (SP / (100 - Loss%)) * 100. He then calculates the cost price for the first scenario: CP = (600 / (100 - 20)) * 100 = (600 / 80) * 100 = 750. He then sets up an equation to find the new profit or loss percentage (x) for the second scenario, where 80 vaccines are sold for Rs. 480. The equation is: 750 = (480 / (100 + x)) * 100. He simplifies this to 7.5 = 480 / (100 + x), then 7.5 * (100 + x) = 480, which becomes 750 + 7.5x = 480. Solving for x, he gets 7.5x = -270, and finally x = -36. This indicates a loss of 36%. However, the instructor then re-evaluates the calculation, and the final answer shown on the board is a 60% loss, suggesting a different approach or a correction in the calculation process.

  3. 5:00 – 9:33 05:00-09:33

    The instructor moves to the second problem, which is displayed on screen: "On selling 60 bananas at Rs. 210, a shopkeeper encounters 30% loss. On selling how many bananas at Rs. 180, the shopkeeper will gain 20% profit?" He begins by calculating the cost price (CP) for the first scenario using the formula CP = (SP / (100 - Loss%)) * 100. He calculates CP = (210 / (100 - 30)) * 100 = (210 / 70) * 100 = 300. This is the total cost price for 60 bananas. He then calculates the cost price per banana as 300 / 60 = Rs. 5. To achieve a 20% profit, the selling price (SP) per banana must be CP * (100 + Profit%) / 100 = 5 * 120 / 100 = Rs. 6. The new selling price for the entire lot is given as Rs. 180. Therefore, the number of bananas that can be sold at Rs. 6 each to get Rs. 180 is 180 / 6 = 30. The instructor writes the final answer as 30 bananas. The video concludes with a "THANKS FOR WATCHING" screen.

The video provides a structured, step-by-step tutorial on solving profit and loss problems, a common topic in quantitative aptitude exams. It demonstrates two distinct problem types: one where the cost price is constant and the profit/loss percentage is to be found, and another where the cost price is derived from one scenario to find a required quantity in a different scenario. The core method involves using the fundamental formulas for cost price and selling price, and the instructor emphasizes the importance of setting up correct equations. The progression from a conceptual image to two detailed, worked examples effectively reinforces the application of these formulas in different contexts.

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