Aptitude  Profit and Loss




OverviewExercise"To err is human; to forgive, divine."
 Alexander Pope

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

Gain = (S.P.)  (C.P.)

Loss = (C.P.)  (S.P.)

Loss or gain is always reckoned on C.P.

Gain Percentage: (Gain %)
Gain % = 

Gain x 100 

C.P. 

Loss Percentage: (Loss %)
Loss % = 

Loss x 100 

C.P. 

Selling Price: (S.P.)
SP = 

(100 + Gain %) 
x C.P 

100 

Selling Price: (S.P.)
SP = 

(100  Loss %) 
x C.P. 

100 

Cost Price: (C.P.)
C.P. = 

100 
x S.P. 

(100 + Gain %) 

Cost Price: (C.P.)
C.P. = 

100 
x S.P. 

(100  Loss %) 

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

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

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 

If a trader professes to sell his goods at cost price, but uses false weights, then
Gain % = 

Error 
x 100 
%. 
(True Value)  (Error) 

