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PROFIT & LOSS

PROFIT & LOSS

Tip #1

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

Tip #2

If an article is sold at a loss of say, 35% then S.P. = 65% of C.P.

Tip #3

PROFIT & LOSS

 

 

 

Tip # 4

 

 

 

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 % = Gain x 100
C.P.
  1. Loss Percentage: (Loss %)
    Loss % = Loss x 100
C.P.
  1. Selling Price: (S.P.)
    SP = (100 + Gain %) x C.P
100
  1. Selling Price: (S.P.)
    SP = (100 – Loss %) x C.P.
100
  1. Cost Price: (C.P.)
    C.P. = 100 x S.P.
(100 + Gain %)
  1. Cost Price: (C.P.)
    C.P. = 100 x S.P.
(100 – Loss %)
  1. If an article is sold at a gain of say 35%, then S.P. = 135% of C.P.
  2. If an article is sold at a loss of say, 35% then S.P. = 65% of C.P.
  3. 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 % = Common Loss and Gain % 2 = x 2 .
10 10
  1. If a trader professes to sell his goods at cost price, but uses false weights, then
    Gain % = Error x 100 %.