Profit & Loss

SP = Sales Price
CP = Cost Price
MP = Marked Price

Cost Price:
The price, at which an article is purchased, is called its cost price.
Selling Price:
The price, at which an article is sold, is called its selling prices.
Profit or Gain:
If S.P. is greater than C.P., then there is a profit or gain.
Loss:
If S.P. is less than C.P., then there is a loss.

Points to Remember:
·       If an article is sold at a gain of 20%, then SP = 120% of CP
·       If an article is sold at a loss of 20% then SP = 80% of CP
·       If an article is sold at a loss of 20% then SP = 80% of CP

Important Formulas for Quick Reference :
·       Gain = (S.P.) - (C.P.)
·       Loss = (C.P.) - (S.P.)
·       Loss or gain is always calculated on C.P.
·       Gain Percentage: (Gain %)
                       
·       Loss Percentage: (Loss %)
                         



·       Selling Price: (S.P.)
                    

·       Selling Price: (S.P.)
                         
·       Cost Price: (C.P.)
                        
·       Cost Price: (C.P.)
                        
·       If a person sells two items at the same price; one at a gain of x % and another at a loss of x %, then the seller always incurs a loss expressed as
                   
                       Loss %=( Common   Loss  and   Gain %10)2=
·       If a trader professes to sell his goods at cost price, but uses false weights, then 
                      Gain%=[Error( True  Value - Error )×100]%
Example:
A man bought 27 tables for ₹5940 and sold them at a gain equal to the selling price of 5 tables. Find gain.

Explanation:
            C.P. = ₹5940
            Let S.P. of one table = ₹x
            Therefore S.P. of 27 table= ₹ 27x

            Gain = ₹5x (given)

    Gain % =
Gain x 100
     C.P.

       = 5x/22x 
× 100 
       = 22.8 
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