X

Available for CBSE, ICSE and State Board syllabus.

Call our LearnNext Expert on 1800 419 1234 (tollfree)

OR submit details below for a call back

Profit and Loss

SUMMARY

**Cost price (CP): **

The price at which goods or articles are purchased is known as the cost price.

Net CP of an article = CP + Overhead expenses

**Selling price (SP):**

The price at which goods are sold is known as the selling price.

**Wholesale price:**

It is the price at which articles are purchased or sold in bulk.

**Retail price:**

It is the price at which articles are purchased or sold individually.

When the selling price is greater than the cost price, there is a profit.

The profit on 100 rupees is called profit per cent or gain per cent.

Profit or Gain = Selling price â€“ Cost price

Profit % or Gain % = ( $\frac{\text{Profit or Gain}}{\text{CP}}$ Ã— 100)%

Profit or gain is always reckoned on CP.

When the selling price is less than the cost price, there is a loss.

The loss on 100 rupees is called loss per cent. Loss = Cost price â€“ Selling price

Loss % = ($\frac{\text{Loss}}{\text{CP}}$ Ã— 100 )%

Loss is always reckoned on the cost price.

Finding SP when CP and Gain % or Loss % is given:

Gain = (Selling price) â€“ (Cost price)

Selling price = Cost price + Gain

Gain % = ($\frac{\text{Gain}}{\text{CP}}$ Ã— 100)

â‡’ Gain = $\frac{\text{Gain}\%}{\text{100}}$ Ã— CP ...(ii)

SP = CP + $\frac{\text{Gain}\%}{\text{100}}$ Ã— CP

âˆ´ SP = ($\frac{\text{100 + Gain}\%}{\text{100}}$) Ã— CP

SP = ($\frac{\text{100 - Loss}\%}{\text{100}}$) Ã— CP

Selling price = Cost price - Loss

Loss % = ( $\frac{\text{Loss}}{\text{CP}}$ Ã— 100)

â‡’ Loss = ( $\frac{\text{Loss}\%}{\text{100}}$ Ã— CP)

SP = CP ($\frac{\text{100 - Loss}\%}{\text{100}}$)

**Finding CP when SP and Gain % or Loss % is given:**

CP = ($\frac{\text{100}}{\text{100 + Gain}\%}$) Ã— SP

CP = ($\frac{\text{100}}{\text{100 - Loss}\%}$) Ã— SP

**Cost price (CP): **

The price at which goods or articles are purchased is known as the cost price.

Net CP of an article = CP + Overhead expenses

**Selling price (SP):**

The price at which goods are sold is known as the selling price.

**Wholesale price:**

It is the price at which articles are purchased or sold in bulk.

**Retail price:**

It is the price at which articles are purchased or sold individually.

When the selling price is greater than the cost price, there is a profit.

The profit on 100 rupees is called profit per cent or gain per cent.

Profit or Gain = Selling price â€“ Cost price

Profit % or Gain % = ( $\frac{\text{Profit or Gain}}{\text{CP}}$ Ã— 100)%

Profit or gain is always reckoned on CP.

When the selling price is less than the cost price, there is a loss.

The loss on 100 rupees is called loss per cent. Loss = Cost price â€“ Selling price

Loss % = ($\frac{\text{Loss}}{\text{CP}}$ Ã— 100 )%

Loss is always reckoned on the cost price.

Finding SP when CP and Gain % or Loss % is given:

Gain = (Selling price) â€“ (Cost price)

Selling price = Cost price + Gain

Gain % = ($\frac{\text{Gain}}{\text{CP}}$ Ã— 100)

â‡’ Gain = $\frac{\text{Gain}\%}{\text{100}}$ Ã— CP ...(ii)

SP = CP + $\frac{\text{Gain}\%}{\text{100}}$ Ã— CP

âˆ´ SP = ($\frac{\text{100 + Gain}\%}{\text{100}}$) Ã— CP

SP = ($\frac{\text{100 - Loss}\%}{\text{100}}$) Ã— CP

Selling price = Cost price - Loss

Loss % = ( $\frac{\text{Loss}}{\text{CP}}$ Ã— 100)

â‡’ Loss = ( $\frac{\text{Loss}\%}{\text{100}}$ Ã— CP)

SP = CP ($\frac{\text{100 - Loss}\%}{\text{100}}$)

**Finding CP when SP and Gain % or Loss % is given:**

CP = ($\frac{\text{100}}{\text{100 + Gain}\%}$) Ã— SP

CP = ($\frac{\text{100}}{\text{100 - Loss}\%}$) Ã— SP