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CLAT Maths: Profit and Loss

CLAT Maths: Profit and Loss Tips

Profit and Loss

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 price, 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.

Formulae

1. Gain: SP – CP 

2. Loss: CP – SP

3. Loss or gain is always reckoned on CP

4. Gain %: Gain x 100 / CP

5. Loss %: Loss x 100 / CP

6. SP: 100 + Gain% / 100 x CP

7. SP: 100 – Loss % / 100 x CP

8. CP: 100 / 100 + Gain % x SP

9. CP: 100 / 100 – Loss % x SP

10. If an article is sold at a gain of say, 35 %, then SP = 135 % of CP

11. If an article is sold at a loss of say, 35 % then SP = 65 % of CP

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