How to find Profit or loss using Python when CP of N items is equal to SP of M

In this article, we will learn a python program to find the profit or loss when the cost price CP of N items is equal to the selling price SP of M items.

Assume we have taken N, and M values which represent the cost price of N items are equal to the selling price of M items. We will now calculate the profit or loss percentage.

Formula

profit/loss = ( (Cost Price) - (Selling Price) ) / (Selling Price) * 100

What is the Selling Price(SP)?

The price a consumer pays to purchase a product or a commodity is known as the selling price. It is a price that is higher than the cost price and also includes a portion of the profit.

What is the Cost Price(CP)?

Cost price is the cost at which the seller buys the product or the commodity. He follows that by adding a portion of gain or profits.

What are Profit and Loss?

The amount gained from selling an item for more than its cost price is known as the profit.

Profit = Selling Price – Cost Price.

Loss is the amount lost by selling an item for less than its cost price.

Loss = Cost Price - Selling Price 

Algorithm (Steps)

Following are the Algorithms/steps to be followed to perform the desired task. −

• Create a function findProfitOrLoss() to calculate profit or loss percentage when the CP(cost price) of 'n' items is equal to the SP (selling price) of 'm' items by accepting the n, m values as arguments.

• Use the if conditional statement to check whether the n and m values are equal with the == operator.

• Print "Neither profit nor loss!!!" if the condition is true.

• Else calculate the profit or loss percentage.

• Create a variable to store profit/loss percentage results.

• Calculate the value of profit or loss by substituting the cost and selling prices to the above formula with the help of the abs() function(calculates the absolute value of a number passed)

• If the cost price is greater than the selling price then it is the case of loss then print the loss percentage.

• Else print the profit percentage.

• Create a variable to store the input n value.

• Create another variable to store the input m value.

• Call the above-defined findProfitOrLoss() function by passing n, m values to it to print the profit or loss percentage.

Example

The following program returns the profit or loss percentage from the n, m input values using the above-given formula −

# creating a function to calculate profit or loss %
# when CP of 'n' items is equal to the SP of 'm' items
# by accepting the n, m values as arguments
def findProfitOrLoss(n, m):
   # checking whether the value of n, m are equal
      if (n == m):
         # printing "Neither profit nor loss!!!" if the condition is true
         print("Neither profit nor loss!!!")
      else:
         # variable to store profit/loss result
         output = 0.0
         # Calculating value of profit/loss
         output = float(abs(n - m)) / m
         #  checking whether n-m value value is less than 0
         if (n - m < 0):
            # printing the loss percentage upto 4 digits after decimals
               print("The Loss percentage is: -",
                  '{0:.4}' .format(output * 100), "%")
         else:
            # printing the profit percentage upto 4 digits after decimals
               print("The Profit percentage is: ", '{0:.6}' .
                  format(output * 100), "%")
# input n value
n = 10
# input m value
m = 7
# calling the above defined findProfitOrLoss() function
# by passing n, m values to it to print the profit or loss percentage
findProfitOrLoss(n, m)

Output

On execution, the above program will generate the following output −

The Profit percentage is:  42.8571 %

Time Complexity − O(1)

Auxiliary Space − O(1)

We substituted the numbers in the formula such that there are no loops to traverse, hence it just takes linear time, i.e. O(1) Time Complexity.

Conclusion

In this article, we learned how to use Python to calculate profit or loss when the cost price of N items equals the selling price of M items. This solution was implemented using a linear time complexity approach. We also learned how to use the format() function to format the float integer to n digits.