Aptitude:: Profit and Loss

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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 %=

5. Loss Percentage: (Loss %)

Loss % =

6. Selling Price: (S.P.)

SP =

7. Selling Price: (S.P.)

SP =

8. Cost Price: (C.P.)

C.P. =

9. Cost Price: (C.P.)

C.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.

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 % =

13. If a trader professes to sell his goods at cost price, but uses false weights, then

Gain % =