Cost Price : The price at which an article is purchased, is called its cost price, abbreviated as CP Selling Price : The price at which an article is sold, is called its selling price, abbreviated as SP Profit or Gain : If S.P. is greater than CP, the seller is said to have a profit or gain Lose : If S.P. is less than CP the seller is said to have incurred a loss
I. Gain = (S.P.) - (C.P.) II. Loss = (C.P.) - (S.P.)
III. Loss or gain is always reckoned IV. Gain % = (Gain x 100)/C P. V. Loss % =(Loss x 100)/CP VI. S.P. = (100 + Gain %)/100 x C.P.
VII. S.P. = (100 - Loss %)/100 x C.P. VIII C.P. =100/(100 + Gain %) x SP
IX. C.P. =100/(100 - Loss %) x SP
X. If an article is sold at a gain of say, 35%, then S.P. = 135% of C.P.
XI. If an article is sold at a loss of say, 35%, then S.P. = 65% of C.P.
