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 – Cost price

Profit % or Gain % = ( $\frac{\text{Profit or Gain}}{\text{CP}}$ × 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 – Selling price

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

Loss is always reckoned on the cost price.

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

Gain = (Selling price) – (Cost price)

Selling price = Cost price + Gain

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

⇒ Gain = $\frac{\text{Gain}\%}{\text{100}}$ × CP ...(ii)

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

∴ SP = ($\frac{\text{100 + Gain}\%}{\text{100}}$) × CP

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

Selling price = Cost price - Loss

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

⇒ Loss = ( $\frac{\text{Loss}\%}{\text{100}}$ × CP)

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

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

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

CP = ($\frac{\text{100}}{\text{100 - Loss}\%}$) × 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 – Cost price

Profit % or Gain % = ( $\frac{\text{Profit or Gain}}{\text{CP}}$ × 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 – Selling price

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

Loss is always reckoned on the cost price.

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

Gain = (Selling price) – (Cost price)

Selling price = Cost price + Gain

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

⇒ Gain = $\frac{\text{Gain}\%}{\text{100}}$ × CP ...(ii)

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

∴ SP = ($\frac{\text{100 + Gain}\%}{\text{100}}$) × CP

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

Selling price = Cost price - Loss

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

⇒ Loss = ( $\frac{\text{Loss}\%}{\text{100}}$ × CP)

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

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

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

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