# Profit And Loss

**Important facts**

** Cost Price :** The price at which any 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 :** If Selling Price is greater than Cost Price then seller makes profit.

** Profit = SP – CP**

** Loss :** If Cost Price is greater than Selling Price then seller incurs loss.

**Loss = CP – SP**

- If an article is sold at a gain of 50%, than it means then S.P. = 150% of C.P.
- If an article is sold at a loss of 40% then S.P. = 60% of C.P.

**Important Formulae**

**Gain Percentage (Gain %) **

**Loss Percentage (Loss %) **

**Selling Price (S.P.) in case of loss %**

**Selling Price (S.P.) in case of gain % **

**Cost Price (C.P.) in case of gain % **

**Cost Price (C.P.) in case of loss % **

**Quicker approach for tricky problems :**

__ Rule 1:__ When a person sells two similar items, one at a gain of say x%, and the other at a loss of x% than theloss incurred by the seller is given by

**Loss % = **

** Rule 2 : **If a trader professes to sell his goods at cost price, but uses false weights, then :

Gain % =

__ Rule 3 :__ If there are two successive profits of R1% and R2% then total profit % =

__ Rule 4 :__ If there is a profit of R1% and loss of R2% then total profit or loss % =

__ Rule 5 :__ If the cost price of P article is equal to selling price of Q article where P>Q, then profit % :

__ Rule 6 :__ If a person marks his article P% above it's cost price and gives customers a discount of Q% then net profit of loss % is :