Quantitative - Profit and Loss

Profit and Loss Description

Important Terms and Formulas

1. Cost Price (C.P.):- The price at which an article is purchased is called its cost price.

2. Selling Price (S.P.):- The price at which an article is sold is called its selling price.

3. Profit or Gain:- If S.P. is greater than C.P., the seller is said to have a profit or gain. (S.P - C.P)

4. Loss:- If S.P. is less than C.P., the seller is said to have incurred a loss. (C.P - S.P)

5. Gain or Loss % is always calculated on C.P.

6. Gain % = ${(\frac{Gain\times 100}{C.P})}$

7. Loss % = ${(\frac{Loss\times 100}{C.P})}$

8. S.P
= ${\begin{bmatrix}\frac{(100 +Gain\%)}{100}\times C.P \end{bmatrix}}$

9. S.P =  ${\begin{bmatrix}\frac{(100 – Loss\%)}{100}\times C.P \end{bmatrix}}$

10. C.P = ${\begin{bmatrix}\frac{100}{(100+Gain\%)}\times S.P \end{bmatrix}}$

11. C.P =  ${\begin{bmatrix}\frac{100}{(100- Loss\%)}\times S.P \end{bmatrix}}$

12. If an article is sold at a gain of 30% then S.P = 130% of C.P

13. If an article is sold at a loss of 10% then S.P =90% of C.P

14. If a trader professes to sell his goods at cost price, but uses false weights, then % Gain = ${\frac{Error}{True\quad value - Error}\times 100}$
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