BANKING EXAM PREPARATION

Profit formula is used to know how much profit has been made by selling a particular product. Formula for profit is majorly used for business and financial transactions. Profit arises when the selling price of any product sold is greater than the cost price (that is the price at which the product was originally bought). It should be noted that the   profit and loss as a percentage   is generally used to depict how much profit or loss a trader gets from a particular deal. The Profit Formulas are given as: Formula for Profit Profit = S.P – C.P. Formula for Profit Percentage Profit Percent Formula =   P r o f i t × 100 C . P . Gross Profit Formula Gross Profit   = Revenue – Cost of Goods Sold Profit Margin Formula Profit Margin =   T o t a l I n c o m e N e t S a l e s × 100 Gross Profit Margin Formula Gross Profit Margin =   G r o s s P r o f i t N e t S a l e s × 100 S.P. = Selling Price i.e. the cost at which the product is sold C.P. = Cost price i.e. the c...

Simple interest formula is one of the methods of calculating the interest on a certain amount. First, it is important to recall the concept of interest and ways to calculate it. When you borrow money from a bank, there is an extra amount to be along with the amount you borrowed. That extra money that you pay is called interest. Some money lenders and financial institutions also charge this interest for the money borrowed. There are two types of interest levied upon: Simple Interest, and Compound Interest It should be noted that the simple interest is paid at the end of a specific time period and is always a fixed amount that the borrower has to pay. The   simple interest   is calculated using a formula which is described below along with an example question. Formula for Simple Interest Simple interest is calculated by multiplying the interest rate by the principal amount and the time period which is generally in years. The S.I. formula is given as: Simple Interest (SI) = P × T...

HCF and LCM For two numbers, HCF x LCM = product of the two.  HCF of Fractions = HCF of Numerator                               LCM of Denominator  LCM of Fractions = LCM of Numerator                                 HCF of Denominator  Relatively Prime or Co-Prime Numbers: Two positive integers are said to be relatively prime to each other if their highest common factor is 1. Divisibility Rules  A number is divisible by: 2, 4 & 8 when the number formed by the last, last two, last three digits are divisible by 2,4 & 8 respectively. 3 & 9 when the sum of the digits of the number is divisible by 3 & 9 respectively. 11 when the difference between the sum of the digits in the odd places and of those in even places is 0 or a multiple of 11.  6, 12 & 15 when it is divisible by 2 and 3, 3 and 4 ...