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 its selling price,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.
FORMULA
1.Gain=(S.P-C.P)
2.Loss=(C.P-S.P)
3.Loss or Gain is always reckoned on C.P.
4.Gain%=(gain*100)/C.P
5.Loss%=(loss*100)/C.P
6.S.P=[(100+gain%)/100]*C.P
7.S.P=[(100-loss%)/100]*C.P
8.C.P=(100*S.P)/(100+gain%)
9.C.P=(100*S.P)/(100-loss%)
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 weight,then
Gain%=[(error/(true value-error))*100]%
14.Net selling price=Marked price-Discount
