Profit and Loss Important Formulas – Aptitude Questions and Answers
The price, at which an article is purchased, is called its cost price, abbreviated as C.P.
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.
If S.P. is less than C.P., the seller is said to have incurred a loss.
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 %)
5. Loss Percentage: (Loss %)
6. Selling Price: (S.P.)
7. Selling Price: (S.P.)
8. Cost Price: (C.P.)
9. Cost Price: (C.P.)
10. If an article is sold at a gain of say 25%, then S.P. = 125% of C.P.
11. If an article is sold at a loss of say, 15% then S.P. = 85% of C.P.
12. 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:
13. If a trader professes to sell his goods at cost price, but uses false weights, then