## Profit and Loss Important Formulas – Aptitude Questions and Answers

**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 %)

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

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