Profit and loss - calculations on loss percentage
Cost Price : The price at which an item is purchased.
Selling Price : The price at which an item is sold.
Profit or Gain : If S.P is greater than C.P then seller is said to have a profit.
Loss : If S.P is less than C.P then seller is said to have incurred a loss.
Loss % : Is the percentage of loss a seller suffers on selling a product at a price less then that of cost price.
Formulae Used
Loss = C.P - S.P
Loss % = (Loss x 100) / C.P
S.P = ((100 - Loss %) x C.P ) / 100
C.P = (100 x S.P) / (100 - Loss %)