Profit and Loss

 Cost Price: The price at which the article is purchased is called cost price abbreviated as C.P.

Selling Price: The price at which the article is sold.

Profit or Gain: If SP is greater than CP, The selling price is said to have profit or gain.

Loss: If SP is less than CP, Then seller is said have incurred loss.  

Formulae:

Gain=(SP)-(CP).      

  Loss=(CP)-(SP).

  Loss or Gain is always reckoned on CP.

  Gain %={Gain*100}/CP.                                                                            

  Loss%={Loss*100}/CP.

  SP={(100+Gain%) /100}*CP.

  SP={(100-Loss%)/100}*CP.

  {100/(100+Gain%)} *SP

  CP=100/(100-Loss%)}*SP

  If the article is sold at a Gain of say 45%, Then SP =145% of CP

  If an article is sold at at a Loss of say 45%. Then SP=55% OF CP.

  When a person sells two items, one at a gain of x% and other at a loss of x%. then the seller always incurs a loss 

  given:

  {Loss% =(Common Loss and Gain ) ²}/10.=(X/10) ²

  if the trader professes to sell his goods at cp but uses false weights, then gain=[error/(true value)-(error)*100]%