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Profit and Loss - IMPORTANT FORMULAE

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IMPORTANT FACTS
Cost Price:
The price, at which an article is purchased, is called its cost price, abbreviated as C.P.
Selling Price:
The price, at which an article is sold, is called its selling prices, abbreviated as S.P.
Profit or Gain:
If S.P. is greater than C.P., the seller is said to have a profit or gain.
Loss:
If S.P. is less than C.P., the seller is said to have incurred a loss.
IMPORTANT FORMULAE
  1. Gain = (S.P.) - (C.P.)
  2. Loss = (C.P.) - (S.P.)
  3. Loss or gain is always reckoned on C.P.
  4. Gain Percentage: (Gain %)
        Gain % =Gain x 100
    C.P.
  5. Loss Percentage: (Loss %)
        Loss % =Loss x 100
    C.P.
  6. Selling Price: (S.P.)
        SP =(100 + Gain %)x C.P
    100
  7. Selling Price: (S.P.)
        SP =(100 - Loss %)x C.P.
    100
  8. Cost Price: (C.P.)
        C.P. =100x S.P.
    (100 + Gain %)
  9. Cost Price: (C.P.)
        C.P. =100x S.P.
    (100 - Loss %)
  10. If an article is sold at a gain of say 35%, then S.P. = 135% of C.P.
  11. If an article is sold at a loss of say, 35% then S.P. = 65% of C.P.
  12. When a person sells two similar items, one at a gain of say x%, and the other at a loss of x%, then the seller always incurs a loss given by:
        Loss % =Common Loss and Gain %2=x2.
    1010
  13. If a trader professes to sell his goods at cost price, but uses false weights, then
        Gain % =Errorx 100%.
    (True Value) - (Error)
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