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 itsselling 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/C.P )×100
5.Loss Percentage: (Loss %)=
- (Loss/C.P )× 100