# Number System - Profit & Loss

1. Cost Price, (c.p.) = The price, at which an article is purchased, is called its cost price.

2. Selling price (s.p) = The price, at which an article is sold, is called its selling price.

3. Profit or Gain = (S.P) - (C.P)

4. Loss = (C.P) - (S.P)

5. Gain or Loss is always reckoned on C.P.

## Formulae

1. Gain% = (Gain*100) / C.P

2. Loss% = (Loss*100) / C.P

3. S.P = (100+ Gain %) /100 * (C.P)

4. S.P = (100-Loss %) / 100 * (C.P)

5. C.P = 100 / (100 + Gain %)* (S.P)

6. C.P = 100 / (100-Loss %)* (S.P)

## Important cases

1. If an article is sold at a profit of say, 20%, then SP = 120% of CP.

2. If an article is sold at a loss of say, 20%, then SP = 80% of CP.

3. When a person sells two similar items, one at a gain of say x% and the other at a loss of say x%. then the seller always incurs a loss given by:

Loss% = (x/10)2

4. If a seller sells his goods at cost price but uses false weights, then

Gain% = [Error/(True value - Error) * 100]%

## Solved Examples

Solved Examples
aptitude_profit_loss.htm 