**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:

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 %)

**Gain % = (Gain x 100)/C.P**

5) Loss Percentage: (Loss %)

**Loss % = (Loss x 100)/C.P.**

6) Selling Price: (S.P.)

**SP = ((100 + Gain %)/100) x C.P**

7) Selling Price: (S.P.)

**SP = ((100 - Loss %)/100)x C.P**.

8) Cost Price: (C.P.)

**C.P. = (100/(100 + Gain %)) x S.P.**

9) Cost Price: (C.P.)

**C.P. = (100/(100 - Loss %)) x S.P.**

10) If an article is sold at a gain of say 35%, then

**S.P. = 135% of C.P.**

11) If an article is sold at a loss of say, 35% then

**S.P. = 65% 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:

**Loss % = ((Common Loss and Gain %)/10)^2 = (x/10)^2.**

13) If a trader professes to sell his goods at cost price, but uses false weights, then

**Gain % = (Error/(True Value - Error))x 100%.**

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