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Number System - Profit & Loss
Cost Price, (c.p.) = The price, at which an article is purchased, is called its cost price.
Selling price (s.p) = The price, at which an article is sold, is called its selling price.
Profit or Gain = (S.P) - (C.P)
Loss = (C.P) - (S.P)
Gain or Loss is always reckoned on C.P.
Formulae
Gain% = (Gain*100) / C.P
Loss% = (Loss*100) / C.P
S.P = (100+ Gain %) /100 * (C.P)
S.P = (100-Loss %) / 100 * (C.P)
C.P = 100 / (100 + Gain %)* (S.P)
C.P = 100 / (100-Loss %)* (S.P)
Important cases
If an article is sold at a profit of say, 20%, then SP = 120% of CP.
If an article is sold at a loss of say, 20%, then SP = 80% of CP.
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 If a seller sells his goods at cost price but uses false weights, then
Gain% = [Error/(True value - Error) * 100]%
Solved Examples
Solved Examples