PROFIT AND LOSS -> IMPORTANT FACTS AND FORMULAE

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 purchased, is called its cost price, abbreviated as C.P. 

Profit or Gain : The price at which an article is purchased, is called its cost price, abbreviated as C.P. 

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

1. Gain = (S.P.) - (C.P.) 

2. Loss or gain is always reckoned on C.P.

 3. gain% = [Gain*100/C.P.] 

4. Loss = (C.P.) - (S.P.) 

5. Loss% = [Loss*100/C.P.] 

6. S.P. = (100+Gain%)/100 * C.P. 

7. S.P. = (100-Loss%)/100 * C.P. 

8. C.P. = 100/(100+Gain%) * S.P. 

9. C.P. = 100/(100-Loss%) * S.P. 

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.