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 prices, 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.

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 %=		\( \frac { \text{ Gain *100} } { C.P } \)

5. Loss Percentage: (Loss %)

    

   Loss % =		\( \frac { \text{ Loss*100} } {C.P} \)

6. Selling Price: (S.P.)

    

   SP =			\( \frac { \text{ (100+Gain%)} } { 100 } \)x C.P

7. Selling Price: (S.P.)

    

   SP =			\( \frac { \text{ (100-Loss%)} } { 100 } \) x C.P.

8. Cost Price: (C.P.)

    

   C.P. =			\( \frac { 1 00} { \text{ (100+Gain%)} } \)x S.P.

9. Cost Price: (C.P.)

    

   C.P. =			\( \frac { 1 00} { \text{ (100-Loss%)} } \)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 % =	\( \frac { \text{ common loss and gain%} } { 10 } \)			2	=	\( \frac { X } { 10} \)			2	.

     

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

     

    Gain % =		\( \frac { Error } { \text{ (true value )(ErRor)}} \)	x 100	%.