Important notes and formula

The price at which an item/article is purchased is called the cost price and it is written as CP.

The price at which an item/article is sold is called the selling price and it is written as SP.

If a seller is able to sell an item/article at a price more than its cost price i.e., when SP > CP it is called a profit.

If a seller is not able to sell an item/article at a price more than its cost price i.e., when SP < CP it is called a loss.

If a seller is able to sell an item/article at a price equal to cost price i.e., when SP = CP then there is no profit or loss and we say its at par.

Gain or Profit = SP - CP

Loss = CP - SP

Profit % = | Profit x 100 | ||

CP |

Loss % = | Loss x 100 | ||

CP |

CP = | 100 | x SP | |

100 + Gain% |

CP = | 100 | x SP | |

100 - Loss% |

SP = | (100 + Gain%) | x CP | |

100 |

SP = | (100 - Loss%) | x CP | |

100 |

If an item/article is sold at a profit/gain of 20% then SP = (100 + 20)% of CP.

= 120% of CP.

If an item/article is sold at a loss of 20% then SP = (100 - 20)% of CP.

= 80% of CP.

A seller sells two similar items, one at a profit of X% and another at a loss of X% so, the seller will always incurs a loss.

Loss% = | X^{2} |
||

100 |

If a seller sells item at Cost Price (CP) but using false weight then he always makes a profit.

Profit% = | Error x 100 | % | |

CorrectValue - Error |

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