Profit and Loss

Selling Price: The price at which an article is sold, is called its selling price, abbreviated as S.P.

Loss: If S.P. is less than C.P., the seller is said to have incurred a loss.

Cost Price: The price at which an article is purchased, is called its cost price, abbreviated as C.P.

Profit or Gain: If S.P. is greater than C.P., the seller is said to have a profit or gain.

Loss = cost price - selling price

Gain in percentage = (gain*100)/cost price

If gain and cost price is given we can calculate selling price by following formula

Selling price = {(100+gain percentage)/100} * cost price

If gain and selling price is given we can calculate selling price by following formula

Selling price = {100/(100+gain percentage)} * selling price

If an article is sold at a gain of say, 35%, then S.P. = 135% of C.P.

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  in percentage = [(common loss and gain in percentage)/10]2 = [x/10]2

If a trader professes to sell his goods at a profit of x%  but uses false weight which is y% less than the actual weight, then

Gain in percentage = [{(x+y)/(100-y)}*100]%

If a trader professes to sell his goods at a loss of x%  but uses false weight which is y%  less than the actual weight, then

GainLoss in percentage = [{(y-x)/(100-y)}*100]%

 

Profit and Loss Exercise

Formulas

Examples

Exercise 1