Profit & Loss

Cost Price:  The price at which article is purchased.


SELLING PRICE:   The price at which article is sold.

PROFIT OR GAIN:  If SP is more than CP,  The SELLING PRICE is said to have PROFIT or GAIN.


LOSS:  If SP is Less than CP,  The S.P.  is said to have incurred a LOSS.

FORMULA

1.GAIN=(SP)-(CP).

2.LOSS=(CP)-(SP).

3.LOSS OR GAIN IS ALWAYS RECKONED ON CP

4. GAIN %={GAIN*100}/CP.

5.LOSS%={LOSS*100}/CP.

6.SP={(100+GAIN%) /100}*CP.

7.SP={(100-LOSS%)/100}*CP.

8.{100/(100+GAIN%)} *SP

9.CP=100/(100-LOSS%)}*SP

10.IF THE ARTICLE IS SOLD AT A GAIN OF SAY x%, THEN SP = (100+x)% OF CP

11.IF A ARTICLE IS SOLD AT A LOSS OF SAY x%. THEN SP= (100-x)% OF CP.

12.WHEN A PERSON SELLS TWO ITEMS,ONE AT A GAIN OF X% AND OTHER AT A LOSS OF X%.THEN THE SELLER ALWAYS INCURES A LOSS GIVEN:

{LOSS%=(COMON LOSS AND GAIN ) ²}/10.=(X/10) ²

13.IF THE TRADER PROFESSES TO SELL HIS GOODS AT CP BUT USES FALSE WEIGHTS,THEN

GAIN=[ERROR/(TRUE VALUE)-(ERROR)*100]%

Examples:

Ex 1.  If the cost price is 96% of sp then whqt is the profit %

          Sol. sp=Rs100 : then cp=Rs 96:profit =Rs 4.

      Profit={(4/96)*100}%=4.17%

Ex. 2. The cp of 21 articles is equal to sp of 18 articles.find gain or loss %

        Sol:       CP of each article be Rs 1

                CP of 18 articles =Rs18 ,sp of 18 articles =Rs 21.

                     Gain%=[(3/18)*100]%=50/3%

Ex.9 By selling 33 metres of cloth , one gains the selling price of 11 metres . Find the gain percent .

Sol: (SP of 33m)-(CP of 33m)=Gain=SP of 11m

SP of 22m = CP of 33m

Let CP of each metre be Re.1 , Then, CP of 22m= Rs.22,SP of 22m=Rs.33.

Gain%=[(11/22)*100]%=50%