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
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