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Profit Loss and Discount | Quants for Bank Exams 2024 | Quants By Navneet Sir

Adda247・166 minutes read

Tiwari focuses on arithmetic topics like profit, loss, and percentages on YouTube, emphasizing understanding concepts deeply for practical application rather than memorizing formulas. Through interactive teaching, Tiwari ensures clarity and comprehension, breaking down complex topics into relatable examples to empower viewers in confidently tackling arithmetic problems.

Insights

  • Understanding the concept of profit and loss based on cost price (CP) and selling price.
  • Calculating profit or loss percentage by comparing CP and selling price.
  • Emphasizing the importance of a strong foundation in basic concepts for solving higher-level questions.
  • Demonstrating the calculation of profit or loss using numerical examples.
  • Introducing different approaches to calculating profit or loss percentages.
  • Utilizing various methods, such as adding or multiplying percentages, to determine profit or loss.

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Recent questions

  • How does Tiwari teach arithmetic concepts?

    Tiwari emphasizes understanding over memorization, using practical examples.

  • What is the importance of understanding CP and SP in profit calculation?

    Knowing CP helps determine profit or loss accurately.

  • How can one calculate profit or loss percentage?

    Profit percentage is calculated by dividing profit by CP.

  • What is the significance of mastering basic arithmetic concepts?

    A strong foundation aids in solving higher-level questions effectively.

  • How does Tiwari encourage practical application of arithmetic concepts?

    Tiwari engages his audience with practical examples to enhance understanding.

Related videos

Summary

00:00

"Empowering Arithmetic Understanding Through Practical Examples"

  • Tiwari is a teacher, trainer, and motivational speaker on YouTube, focusing on arithmetic topics like percentage, CI, SI, ratio, and proportion.
  • He emphasizes understanding chapters thoroughly, especially when facing challenges beyond basic questions.
  • Tiwari explains the concepts of purchase price (CP) and selling price (SP) in detail, highlighting the importance of knowing CP for determining profit or loss.
  • Profit is calculated by subtracting CP from SP, while loss is calculated by subtracting SP from CP.
  • Profit percentage is calculated by dividing profit by CP and multiplying by 100, while loss percentage is calculated similarly.
  • Tiwari encourages understanding concepts deeply rather than memorizing formulas, focusing on creating formulas based on understanding.
  • He engages his audience by posing questions and guiding them through practical examples to calculate profit, loss, and profit percentage.
  • Through interactive teaching, Tiwari ensures clarity and comprehension, making arithmetic concepts accessible and engaging for his viewers.
  • Tiwari's teaching style involves breaking down complex topics into simple, relatable examples, fostering a deeper understanding of arithmetic principles.
  • By emphasizing practical application and understanding over rote memorization, Tiwari aims to empower his audience to confidently tackle arithmetic problems and calculations.

11:00

Mastering Profit and Loss Calculation Fundamentals

  • Understanding the concept of profit and loss based on cost price (CP) and selling price.
  • Calculating profit or loss percentage by comparing CP and selling price.
  • Explaining the importance of a strong foundation in basic concepts for solving higher-level questions.
  • Demonstrating the calculation of profit or loss using numerical examples.
  • Introducing different approaches to calculating profit or loss percentages.
  • Emphasizing the significance of understanding the relationship between CP and selling price ratios.
  • Utilizing various methods, such as adding or multiplying percentages, to determine profit or loss.
  • Encouraging practice and mastery of fundamental concepts to tackle more complex problems.
  • Illustrating the application of different approaches through practical examples.
  • Reinforcing the idea that a thorough understanding of basic concepts is essential for solving advanced problems effectively.

21:49

Mastering concepts for success in teaching

  • Teaching with dedication and expertise is emphasized
  • Hard work is essential for success
  • Motivation is crucial to maintain throughout the learning process
  • The Chain and Zoom approaches are introduced for teaching
  • Practical application of the Chain and Zoom approaches in solving problems is demonstrated
  • The importance of understanding concepts deeply is highlighted
  • The significance of learning from basic to advanced levels is stressed
  • The process of calculating Cost Price and Selling Price is explained
  • The application of Profit Percentage in solving problems is demonstrated
  • The importance of mastering concepts for tackling advanced level questions is emphasized

32:37

Maximize Profit with Effective Discounts

  • Discount is a process to maximize profit by selling items at a reduced price.
  • Shopkeepers use discounts to increase sales and profits.
  • Discounts do not necessarily mean reduced profits; they can lead to increased profits.
  • Giving discounts can attract customers and boost sales.
  • The formula for selling price is MRP minus discount.
  • Discounts are always given on the MRP, not the selling price.
  • Increasing the cost price can lead to higher profits when offering discounts.
  • The equation for profit is CP plus profit equals MRP minus discount.
  • Focus on the present and pay attention to details to avoid mistakes in calculations.
  • Practice solving questions to strengthen understanding of discounts and selling prices.

44:32

"Calculating CP, MRP, and Selling Price"

  • The item was sold for Rs. 500 and a discount of Rs. 200 was applied, resulting in a discount of Rs. 300.
  • Discounts are based on the CP (Cost Price) of the item, not the MRP (Maximum Retail Price).
  • To calculate the MRP, the discount amount is subtracted from the selling price.
  • A discount of Rs. 20 was given, and the selling price was Rs. 840, leading to an MRP of Rs. 1050.
  • The profit percentage is calculated based on the CP, with a profit of Rs. 20 representing 1/5 of the CP.
  • The ratio of CP to MRP is 3:4, derived from CP being Rs. 15 and MRP being Rs. 20.
  • To find the selling price, the discount is subtracted from 100 and the profit is added to 100.
  • By following this process, the relationship between CP and MRP can be determined accurately.
  • The approach of subtracting the discount and adding the profit to 100 simplifies the calculation of the CP and MRP ratio.
  • This method ensures a clear understanding of the relationship between CP, MRP, and the final selling price.

56:40

"Mastering Profit Calculations: Essential Approaches and Concepts"

  • CP will increase with profit, leading to higher MRP.
  • Approach is crucial during calculations, especially with questions.
  • Noting down the approach is essential for clarity.
  • Dealing with negative values like -100 is a common practice.
  • Fraction values and decimal percentages need to be understood.
  • Understanding CP and MRP is vital for calculations.
  • Calculating profit percentage involves adding fractions.
  • The concept of discount percentage is crucial.
  • The fraction value of 1/6 and its implications on profit percentage.
  • The ratio of CP and SP is significant in determining profit percentages.

01:09:05

"Successive Discounts and Practical Applications"

  • The MRP was Rs. 1000 with two discounts of Rs. 50 each, making it not free but reduced to Rs. 500.
  • The successive discount process involved reducing the MRP by 50% twice, resulting in a selling price of Rs. 250.
  • The formula for calculating successive discounts is a + b - (a*b/100), with a and b representing the discounts.
  • By applying the formula, a selling price of Rs. 250 was achieved after a discount of Rs. 75 on an MRP of Rs. 1000.
  • The concept of successive discounts was further explained using the example of selling an item worth Rs. 1000 for Rs. 250.
  • The chain approach was utilized to calculate discounts based on the MRP, with discounts of Rs. 20 and Rs. 25 resulting in a selling price of Rs. 480.
  • The concept of 'buy three get two free' was illustrated, showing how a customer pays for three items but takes home five, resulting in a discount of 40%.
  • Another scenario of 'buy six get three free' was presented, leading to a discount of 33.33% on the total selling price.
  • A practical question involving selling 72 articles at a loss of 75% on the selling price of nine was discussed.
  • The session concluded with a call to solve questions based on the concepts learned, emphasizing practical application and understanding.

01:22:11

"Profit and Loss Scenarios in Sales"

  • The selling price of one article is assumed to be Rs. 1
  • If the selling price of one article becomes Rs. 9, the selling price of articles is Rs. 9
  • The selling price of 72 articles would be Rs. 72
  • If goods are sold at a loss, the cost price is Rs. 81
  • The loss percentage is calculated to be 11 1/9%
  • To earn a profit of Rs. 20, an item bought for Rs. 300 is sold for Rs. 360
  • Selling an article for Rs. 800 results in a profit of Rs. 500
  • Selling the same article for Rs. 275 leads to a loss
  • The gap between the selling prices of Rs. 800 and Rs. 275 is Rs. 525
  • The ratio of profit to loss is 20:1, resulting in a profit of Rs. 500 and a loss of Rs. 25

01:34:59

Profit and Loss Calculations with Ratios

  • Selling an item for Rs 800 results in a profit of Rs 500, indicating a purchase price of Rs 300.
  • Selling the same item for Rs 275 incurs a loss of Rs 25, revealing the cost price to be Rs 300.
  • The profit and loss ratio is 20:1, with a margin of 525 between them.
  • Converting the margin to a 20:1 ratio, the value of one ratio is Rs 25.
  • Selling the item for Rs 800 yields a profit of Rs 500, bought at Rs 300 and sold at Rs 275.
  • Calculating the cost price involves multiplying the answer by 6/5.
  • Increasing the selling price by 50 results in a profit of 7%, with a value of Rs 375.
  • Increasing the ratio by 16 from 91 to 107 leads to a cost price of Rs 4687.5.
  • Selling goods at a 20% profit and then at a 30% profit reveals the initial cost price to be Rs 100.
  • Buying an item for Rs 90 and selling it for Rs 120 indicates a profit of Rs 30, with a selling price of Rs 117.

01:47:05

"Mathematical Problem: Profit, Panda Approach, Honesty"

  • The text discusses a mathematical problem involving the sale of goods at a profit.
  • The initial cost price (CP) is mentioned as 100, with a profit of 25, leading to a selling price (SP) of 125.
  • If the goods were bought for 900 less, the CP would be 900, and the SP would be 5 more than the original profit.
  • The profit percentage is calculated as 30% when an item worth 10 is sold for 13.
  • The Panda Approach is introduced to determine the gap between the CP and SP when goods are bought for 900 less.
  • The value of x is found to be 135, leading to a CP of 5400.
  • The text emphasizes the importance of selling all purchased items to determine profit or loss accurately.
  • A scenario is presented where a shopkeeper promises to sell goods at CP but reduces the weight by 30%.
  • The shopkeeper's promise results in a discrepancy where only 700 grams are sold instead of the full 1000 grams.
  • The text concludes by highlighting the importance of honesty in business transactions and the need to avoid fraudulent practices.

02:00:33

Profit Calculation in Selling Goods at Cost Price

  • Price of one gram is Rs. 1000, goods worth Rs. 1000 are being sold for Rs. 1000, resulting in a profit of Rs. 300.
  • Understanding profit calculation based on cost price (CP) and selling price (SP) of items.
  • Explaining the process of profit-making when selling goods at CP.
  • Illustrating a scenario where an item bought for Rs. 1000 is sold for Rs. 1000, leading to profit.
  • Analyzing a situation where 700 grams of goods worth Rs. 1000 are sold for Rs. 1000, resulting in a profit of Rs. 300.
  • Demonstrating a case where 9960 grams of goods are sold, with 960 grams being used, leading to a profit of Rs. 24.
  • Emphasizing the importance of understanding profit and loss ratios in selling multiple items at the same price.
  • Explaining the calculation of the selling price of an article based on profit percentage.
  • Solving a problem involving marked-up prices, discounts, and profit calculations to determine the selling price and profit.
  • Addressing a mains level question involving variables, marked-up prices, discounts, and profit calculations to find the cost price and selling price of an article.

02:14:13

"Calculating Discounts, Profits, and Losses Simply"

  • To calculate discounts, subtract the discount percentage from 100.
  • The formula for discount is to multiply the discount percentage by the original price.
  • Subtract the discount percentage from 100 to find the selling price.
  • Profit is calculated by adding the cost price and profit percentage.
  • To find the selling price after a profit, multiply the cost price by the profit percentage.
  • In a scenario with losses, subtract the loss amount from 100.
  • To calculate the selling price after a loss, multiply the cost price by the loss percentage.
  • The value of an item can be determined by solving equations involving cost price, profit, and loss.
  • To calculate profit percentage, divide the profit by the cost price and multiply by 100.
  • Allegation method can be used to find the overall profit percentage when given the total cost price and selling price of multiple items.

02:31:03

Calculating Profit and Cost Price Ratios

  • The ratio between 90 and 50 is 4:5, resulting in a gap of 140 out of 180.
  • The total cost price (CP) is 2700, with a profit percentage to be calculated.
  • To find the cost price of an item sold at Rs 40 with a profit, multiply the CP by the profit percentage.
  • The profit percentage is calculated by adding the CP and profit, then dividing by the CP.
  • Selling an article at Rs 2880 with a profit, the CP is calculated by multiplying the CP ratio by 100.
  • The profit made on an article sold at Rs 2880 with a CP of Rs 2400 is calculated by multiplying the profit percentage by 100.
  • The value of one ratio is found by dividing the given value by the ratio.
  • The cost price of an article is determined by multiplying the difference between the CP and mark price by the given value.
  • The cost price of an article is calculated by multiplying the given value by the difference between the CP and mark price.
  • To determine the cost price of an article, multiply the given value by the difference between the CP and mark price.

02:47:22

"Live Math Show, In-Depth Teaching, Viral Book"

  • The Math show will be live at 6:00 am, providing a PDF only to live viewers, not in recorded sessions.
  • The session promises in-depth teaching of concepts, covering basic to mains level questions.
  • A book for viral mess is recommended for Rs 5000, containing over 5000 calculation-based questions.
  • Enrolling in the Mace Foundation Batch for Math and Arithmetic is advised, offering deep concepts and a discount code "y392."
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