profit and loss formula and tricks

Loss = Cost Price - Selling Price; C.P > S.P 3. If he mixed the two brands of rice and sold the mixture at Rs. When there are two successive profits of x% and y% then the net percentage profit =[x+y+xy/100], When there is a profit of x% and loss of y% then net percentage profit or loss = [x y xy/100]. The profit and loss formula is a mathematical formula that is used to determine the market price of a commodity and to assess how lucrative a firm is. Required fields are marked *. Required fields are marked *. 50. What is the profit or loss% in this transaction for the trader. Note :- profit or loss will be decided according to sign .if +ive it is profit ,if ve it is loss . 10. 5050+ Previous Years (1999-2022) Indian History question and Answer in Hindi 3700+ Indian polity questions for competitive exams in Hindi Pdf. He had to sell them for 150 to find his loss or gain percent? It is popularly known as C.P. We have learned how to determine profit, loss, and their percentages by basic profit and loss formula.Let's now explore some short tricks or formulas for resolving mathematical problems based on profit and loss. i) In case of profit ii)In case of loss: False weight Condition:When a seller sells his goods at CP but uses false weight. Loss is equal to the cost price minus the selling price. Commentdocument.getElementById("comment").setAttribute( "id", "a98c41b46779b4c4aba097985f88a0a7" );document.getElementById("ie616fc77e").setAttribute( "id", "comment" ); Wordpandit is a product of Learning Inc., an alternate education and content company. Note : Profit and loss are always calculated on cost price. Profit and Loss: Part-4 - Without any formula tricks - By Abhishek Equal % profit & loss on the same cost price of two . Profit and Losscalculations are used in mathematics to determine the price of a commodity in the market and understand how profitable a business is. Selling price (sp) = 27000 Further, the PDF of NCERT books and previous year question papers will help students improve their overall preparations. (17)By selling an article, a man makes a profit of 25% of its selling price. Save my name, email, and website in this browser for the next time I comment. Overall loss% =\frac { 10^2 }{ 100 } = 1%Therefore overall loss% is 1%. 2. PROFIT AND LOSS SHORTCUTS TRICKS PDF - onlinemath4all Since sp > cp Profit = Selling Price - Cost Price When the selling price of any article sold is greater than the cost price (the price at which the article was initially bought), gain or profit is made. If the Selling price is Rs 120, find the Marked price.Solution: Given, Selling Price= Rs 120 and discount% =4%let the marked price be Rs x.We know,discount %= (\frac { Marked\quad price\quad -\quad Selling\quad price }{ Marked\quad price } )\times 100 4= (\frac { x\quad -\quad 120 }{ x } )\times 100 4x= 100x -12000 96x=12000 x=125The marked price is Rs 125. (Q11)An Egg seller buys 240 egg for Rs. Or need to know something about our courses? A Loss is money lost when a certain commodity is sold at price lower than Cost Price. Selling Price = { (100 - Loss Percentage)/100} x Cost Price Profit, P = SP - CP; SP>CP Loss, L = CP - SP; CP>SP P% = (P/CP) x 100 L% = (L/CP) x 100 SP = [ (100 + P%)/100] x CP SP = [ (100 - L%)/100] x CP CP = [100/ (100 + P%)] x SP CP = [100/ (100 - L%)] x SP Discount = MP - SP What was its original price(i.e M.P) in Rs. = {100/ (100 - L%)} SP (if SP < CP) On the other hand, positive answer means profit is made. Formulas, Problems & Tricks: Profit & Loss - English Version Formulas of Profit and Loss with Examples | Discounts, Break even point Profit = selling price cost price Find the loss and loss%.Solution: Here, Cost Price(CP)= Rs 20 Selling Price(SP)= Rs 15 we know, loss = CP SP = 20-15 = Rs 5Therefore, loss =Rs 5and Loss % = (\frac { Cost\quad price\quad -\quad selling\quad price }{ cost\quad price } )\times 100Loss % = (\frac { 20\quad -\quad 15 }{ 20 } )\times 100 = 25%Hence, Loss% is 25%, Question 2: Aman purchased a book for Rs 500 and sold it for RS 525.Find the profit%.Solution: Here, Cost Price(CP)= Rs 500 Selling Price(SP)= Rs 525 we know, Profit = SP CP = 525-500 =Rs 25Therefore, profit =Rs 25and Profit % = (\frac { selling\quad price\quad -\quad cost\quad price }{ cost\quad price } )\times 100 Profit = Selling price - Cost price Loss When a person sells a product at a lower rate than the cost price, then the difference of both amounts is called loss. Percentage Loss: The loss percent can be determined as; Loss % = 100 Loss/Cost Price. (Q13)A profit of 12% is made when a mobile phone is sold at Rs P and there is 4% loss when the phone is sold at Rs Q. List of Profit and Loss Formula: Solve Profit and Loss Sums 1000/29000 100 = 3.4%, Example 5. Profit = Selling Price Cost Price; S.P > C.P Loss When the selling price is less than the cost price, then the person will obtain loss. transactions have resulted in an overall loss of, and the absolute value of the loss Rs. 490 and sold for Rs. Students can follow these solution sets to understand the correct approach to answer the questions appropriately. Selling Price = {(100 + Profit Percentage)/100} x Cost Price Every product has a cost price and selling price and based on the values of these prices, you can find out the profit gained or loss incurred on a particular product. Question 5: The sellling price of an article is Rs 1331. Profit or Gain= Selling price (SP) - Cost price (CP) Loss- If the selling price is less than the cost price, the difference between them is the loss incurred. Discount: The amount of reduced from marked price of an article for selling is called discount. Beem given a money to his friend of $360 and his friend returns him as $362 find his profit or loss percent ? Profit and loss statements are important because many companies must complete them by law or association membership. Profit is the amount the seller gets when he/she sells a product more than the cost price. Find overall Loss% or profit%. If the difference is positive then there is a profit whereas if the difference is negative then there is a loss. Ans: Profit:If a products selling price is greater than its cost price, there is a profit in the business. In Profit And Loss Type-1, I am going to discuss some important Profit And Loss formulas, Shortcut Tricks and some important questions which are frequently asked in Bank PO, SSC CGL, SSC CHSL, Railways etc Exam.Here I am providing a Profit And Loss formulas basic concept, questions and Shortcut Tricks Which will help you scoring good marks in the exam and also save your valuable time. Before calculating the problems on profit or loss we have to know what are the basic concepts of profit and loss. Fixed cost: The fixed cost will not be varied whatever the situation may be. A fruit vendor bought \(5\) lemons for \(5\) and sold at the rate of \(4\) lemons for \(5.\) Calculate:a) Profit in selling \(60\) lemons b) Profit \(\% \)Ans: a) \(CP\) of \(5\) lemons \(= 5\)\(CP\) of \(1\) lemon \( = \frac{5}{5} = 1\)\(CP\) of \(60\) lemons \(= 1 \times 60 = 60\)\(SP\) of \(4\) lemons \(= 5\)\(SP\) of \(1\) lemon \( = \frac{5}{4}\)\(SP\) of \(60\) lemons \(= \frac{5}{4} \times 60 = 75\)Profit \(= 75\, -\, 60 = 15\)Hence, the profit is \(15.\)b) Profit \(\% = \frac{{{\text{ Profit }}}}{{{\text{CP}}}} \times 100\)\( = \frac{{15}}{{60}} \times 100 = 25\% \)Hence, the profit percentage is \(25\% .\), Q.5. 3. profit% and loss% always calculate on Cost Price(C.P), %Profit or Gain = (Profit or Gain100)/C.P, Gain or Profit of x% can be represented as (100+x)/100, Loss of x% can be represented as (100-x)/100, Profit and Loss Formulas and important Questions. Some Important Formula and Tricks:-A). Students can find PDF of solution sets of the exercises for each chapter in the NCERT books. Generally, 2-3 questions are expected any pre level Exam but In SSC CGL Tier-2 8-10 Questions are expected from Profit Loss And Discount Chapter. Profit = Selling Price Cost Price %profit = {(Selling Price Cost Price)/Cost Price} x 100, 4. Every student must know the important terms like profit, loss, selling price, and cost price. Formula : Profit% = (P/C.P)*100. Profit = SP > CP. CP = 100/(100-loss %)S P Profit and Loss Based on Cost Price To find the percent gain or loss, divide the amount gained or lost by the cost and multiply it by 100. Find his profit percent if he had sold his goods for 2040. Profit = Selling Price Cost Price 1. 100 - Rs. Note: Profit \(\% \) or Loss \(\% \) are calculated on the cost price. The cost price of toy is Rs 120 and the seller incurs a loss of 10%. Solution: Here, selling price = Rs. That is \({\rm{profit}} = 35 30 = 5\)Hence, profit \(= 5\). Profit Percentage, as well as Loss Percentage, is carried with respect to C.P only. 11. Profit (P) = S.P - C.P. Selling Price = (100 + profit percentage)/100 Cost price But he gives his customer less than 1000 grams (false weight) for every 1 kilogram. Loss is the amount a seller gets when he/sells a product less than the cost price. Roy buys a car for 28000 and he sold it by 29000 and find his profit? A dishonest dealer sells goods at x % loss on cost price but uses a gm instead of b gm . Cost Price: Cost price is nothing but the amount paid for the product to purchase. If there is a loss of L %, Cost Price = C Then SP = {(100-L)/100}xC, 7. This price is set by the seller. (\frac { 20\quad -\quad 15 }{ 20 } )\times 100, (\frac { 525\quad -\quad 500 }{ 500 } )\times 100, (\frac { x\quad -\quad 120 }{ x } )\times 100. Profit or Gain: If S.P>C.P, The seller is said to have a Profit or Gain. Profit = Selling Price (S. P) - Cost Price (C. P.) Substitute the Cost Price and Selling Price on the above formula. Selling price (sp) = $110 Profit And Loss Formulas and tricks Profit or Gain= S.P - C.P Loss = C.P - S.P %Profit or Gain = (Profit or Gain100)/C.P %Loss = (Loss 100)/C.P Concept: Gain or Profit of x% can be represented as (100+x)/100 Loss of x% can be represented as (100-x)/100 If C.P and Profit% or Gain% given then S.P= [C.P (100+Gain%)]/100 Q.5. Buying and selling are associated with our daily routine activities. Question 7: A shopkeeper sells his goods at a discount of 4% . He sold one at a profit of \(15\% \) and the other at a loss of \(15\% .\) Find whether he made an overall profit or loss.Ans: Combined cost price \( = 15000 + 15000 = 30000\)Profit on one washing machine \(15\% \) of \(15000 = \frac{{15}}{{100}} \times 15000 = 2250\)\(SP\) of one washing machine \( = CP + {\text{Profit}} = \left({15000 + 2250} \right) = 17250\)Loss on the other washing machine \(15\% .\) of \(15000 = \frac{{15}}{{100}} \times 15000 = 2250\)\(SP\) of the other washing machine \(= CP {\text{Loss}} = \left({15000 2250} \right) = 12250\)Combined \(SP = \left({17250 + 12250} \right) = 30000\)So, Combined \(CP = \) Combined \(SP\)Hence, no overall profit or loss. Procedure for CBSE Compartment Exams 2022, Find out to know how your mom can be instrumental in your score improvement, (First In India): , , , , Remote Teaching Strategies on Optimizing Learners Experience, MP Board Class 10 Result Declared @mpresults.nic.in, Area of Right Angled Triangle: Definition, Formula, Examples, Composite Numbers: Definition, List 1 to 100, Examples, Types & More. Given, If \(SP > CP,\) i.e., in the case of profit, \({\text{Profit}}\, = SP CP.\)Example: A man bought an article at \(30\) and sold it at \(35.\)Given, \(CP = 30\) and \(SP = 35\) here \(SP > CP\)Therefore, it is profit. Profit and loss formulas for quantitative aptitude | profit and loss shortcut tricks for bank exams, ssc cgl | profit and loss problems with solutions for all types of competitive exams | Formulas for Profit and loss and practice sums | Exercise - 3 | Profit and loss chapter question and answers. 280 220 = 60 You the table of contents given below to go through these articles. Therefore loss % = loss/cost price 100 Profit and Loss Formulas - All Math Tricks = { (100 - L%)/100} CP (if SP < CP) C.P. Loss Percentage = [Loss/Cost Price] 100 5. One can generate a profit only if Selling Price> Cost Price 2. I have already shared a Percentage Problem if you have not read that yet, you should read it the right way here is the link. Discount = Market Price Selling Price Shortcut tricks on Profit & Loss Short Trick are one of the most important topics For exams. Therefore Roy makes a perfect Loss percentage \(\left({L\% } \right) = \left({\frac{{{\text{Loss}}}}{{{\text{Cost}}\,{\text{Price}}}}} \right) \times 100\). - C.P. (a)4% (b)4.75% (c)5% (d)11/3 %Solution:-You can also Read:Profit and Loss Part-2 Profit and Loss Part-3 Profit and Loss Part-4 Profit and Loss Part-5 Profit and Loss Part-6 Profit and Loss Part-7. Question 9 : A shopkeeper gains 10% while buying the goods and gains 20% while selling them. Loss percentage \(\left({L\% } \right) = \left({\frac{{{\text{Loss}}}}{{{\text{Cost Price}}}}} \right) \times 100\)3. A shopkeeper sells an item at a profit of x % and uses a weight which is y % less .find his total profit. Profit = selling price cost price Cost Price = (100 Selling Price)/100 loss percentage The formulas mostly findapplication inbusiness and financial dealings. Note:- for loss replace plus sign with minus . Profit percentage \(\left({P\% } \right) = \left({\frac{{{\text{Profit}}}}{{{\text{Cost}}\,{\text{Price}}}}} \right) \times 100\)2. Remember, the purpose here is to just to provide you a handy list of results that you can use. Selling price calculation. Leading AI Powered Learning Solution Provider, Fixing Students Behaviour With Data Analytics, Leveraging Intelligence To Deliver Results, Exciting AI Platform, Personalizing Education, Disruptor Award For Maximum Business Impact, Practice Profit & Loss Questions with Hints & Solutions. Find the selling price.Solution: Given, Cost Price = Rs 120 Loss% = 10% Selling Price = ?We know,Selling Price=(\frac { 100-10 }{ 100 } )120 = (\frac { 90 }{ 100 } )120 SP = Rs 108Therefore Selling Price is Rs 108. Loss = Cost Price Selling Price; C.P > S.P Selling price (sp) = 220 17. Profit or Gain = Selling price - Cost Price. 50 Profit = Rs. The purpose of this article is very simple: to provide you a list of Profit and Loss Formulas, Shortcuts and Tricks that you can use to solve questions. Mr. Ramesh bought a pen for $75 and sold it for $110. Formula: Loss = Cost price (C.P.) 250 150 = 100 Given, A man bought two washing machine sets at \(15000\) each. Answer : Take Cost price = CP then Marked price = 1.2 CP ( Since 20% extra on CP ) Selling Price ( SP)= 1.2 CP [ 1 - (10/100) ] = ( 1.2 x 0.9) CP = 1.08 CP SP/ CP = 108 /100 Profit % = 8% The basic formula used for computing the profit is: \({\text{Profit}} = {\text{Selling}}\,{\text{price}}\, {\text{Cost}}\,{\text{price}}.\)\({\text{Overall}}\,{\text{again}} = {\text{Combined}}\,{\text{SP}}\, {\text{Combined}}\,{\text{CP}}\). Important formulas and tricks for calculations of profit and loss Profit = Selling Price - Cost Price and Loss =Cost price - Selling price and For calculating the selling price: i) When Cost price and profit % are given ii) When Cost Price and loss% are given iii) When Marked price and discount percentage are given. Profit and Loss Problems, Formulas - Quantitative Aptitude Questions What is the rate benefit earned? One generates a loss when Selling Price < Cost Price. Cost price (cp) = 250 Click the link below to learn percentage.Basic concepts of percentage, Your email address will not be published. Selling price (sp) = 150 Some Important Formulas Profit And Loss-: Formula 1. A profit and loss declaration also helps the companys leadership team (including its executive committee) understand the businesss net income, which could be helpful in decision-making procedures. Question 9 : A shopkeeper gains 10% while buying the goods and gains 20% while selling them. After sometime he spent his sale proceedings to purchase the same item again.But this time he sold it at a loss of 10%. His profit percent is. 3. Cost Price \(\left({CP} \right)\): The amount paid to buy a product or the price at which a product is made is known as cost price. 8. Find the loss and loss%. Discount = Discount percentage of market price 2. Therefore profit % = profit/cost price 100 Formula: Profit or Gain = S.P. Profit and Loss - Definition, Formula, Calculation, Methods - VEDANTU Then Q:P is. Cost Price= (\frac { 100 }{ 100-4 } )480 = (\frac { 100 }{ 96 } )480 CP = Rs 500Therefore Cost Price is Rs 500. Summary of Profit and Loss Formula 3. (Q4)An item when sold for Rs. CP = (100 SP)(100 + Profit%) In other words, if a product is sold at a higher price than the price at which it was bought, then a profit is earned. (16)A store sells watch for a profit of 25% of the cost. Profit = Selling Price - Cost Price; S.P > C.P 2. Profit and Loss - Important Formulas, Tricks and Tips - A4Academics Selling price (sp) = $362 50 Therefore, the profit gained from the book is Rs. Profit and Loss (Basic Concepts, Formulas, Tricks and Examples) - BYJUS Have a doubt? 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Then, the profit percentage is. Profit-and-Loss-formula-5 - All Math Tricks Sol: Here CP = 20, SP = 26. You must know these basic concepts, formulas, and tricks. Cost price (cp) = 28000 80.50 per Kg, his gain is. 150 and a discount of 20% are given. If profit percentage and loss percentage are equal, put P=L. 3. = {100/ (100 + P%)} SP (if SP > CP) C.P. If loss percentage and cost price are given W1 = 800 and W2 = 1000 now the profit to shopkeeper Profit percent = [ (1000- 800 ) /800 ] x 100 = 200 x 100 / 800 = 25% W1 = 800 and W2 = 1000 now the loss percent to customer Loss % = [ (800- 1000 ) /1000 ] x 100 = - 200 x 100 / 1000 = - 20% ("-ve " value means its having loss) Selling Price \(\left({SP} \right)\): The price at which a product is sold is the selling price. For finding the Cost Price Cost Price. Selling price \( = \left\{{\left({\frac{{100 + P\% }}{{100}}} \right)} \right\} \times CP\) (when \(SP > CP\))4. while on the other hand, if you are good at bargaining ( which I am not ) , you force the seller to sell you the item below its cost price. Loss = Cost Price Selling Price Profit and Loss Formula - Basic Concepts, Problems and FAQs - VEDANTU Marked Price: It is the price which is labelled in the item. 1690 earned 30% profit on the cost price. Most of us miss this thing. Q.1. Cost price (cp) = $360 Competitive exams are all about time. Find the total profit%. Therefore Tons makes a loss Based on the values of those prices, we can calculate the profit earned or the loss incurred for a specific product. (a)Rs 1202 (b)Rs 1190 (c)Rs 1160 (d)Rs 1000. Profit & Loss Shortcut Tricks Tips & Concept - GovernmentAdda Then the list price of the table is. The formula for the profit and loss percentage is: Profit percentage (P%) = (Profit /Cost Price) x 100. Find the percent or rate of profit. Therefore profit % = profit/cost price 100 Cost price (cp) = 280 376 at a loss of 6%. Profit-and-Loss-formula-7. If loss percentage and selling price are given Profit and Loss Formula and Tricks for Fast Calculations A dishonest dealer claims to sell his goods at cost price ,but he uses a weight of lesser weight .Find his gain%. Find the cost price of the chair. (a)20% (b)25% (c)16/3 %(d)33 /3 %, (18)If the cost price is 90% of the selling price, what is the profit percent? Some important formulas related to profit and loss are: 1. Thus you can see the importance of the concepts of profit and loss. Profit or loss percentage is conveyed as a fraction with \(CP\) in the denominator. Loss = Cost Price Selling Price %Loss = {(Cost Price Selling Price)/Cost Price} x 100, 5. Explain the importance of profit and loss for students.Ans: Profit and loss formulas help students calculatethe profitor loss thathas been made by selling a particular product.In general, profit and loss statements are important because many companies must complete them by law or organization participation. 2/360 100 = 0.5%, Big Ideas Math Answers Grade 7 Accelerated, McGraw Hill My Math Kindergarten Chapter 7 Review Answer Key, McGraw Hill My Math Kindergarten Chapter 7 Lesson 5 Answer Key Take Apart Numbers 16 to 19, McGraw Hill My Math Kindergarten Chapter 7 Lesson 4 Answer Key Make Numbers 16 to 19, McGraw Hill My Math Kindergarten Chapter 7 Lesson 3 Answer Key Problem-Solving Strategy: Make a Table, McGraw Hill My Math Kindergarten Chapter 7 Lesson 2 Answer Key Take Apart Numbers 11 to 15, McGraw Hill My Math Kindergarten Chapter 7 Lesson 1 Answer Key Make Numbers 11 to 15, McGraw Hill My Math Kindergarten Chapter 7 Check My Progress Answer Key, McGraw Hill My Math Kindergarten Chapter 7 Answer Key Compose and Decompose Numbers 11 to 19, McGraw Hill My Math Kindergarten Chapter 6 Review Answer Key, McGraw Hill My Math Kindergarten Chapter 6 Lesson 7 Answer Key Subtract to Take Apart 10, McGraw Hill My Math Kindergarten Chapter 6 Lesson 6 Answer Key Problem-Solving Strategy: Write a Number Sentence. Example 6: Ram sold a watch for Rs. To find Profit or Loss when Cost Price and Selling Price are Given Profit and Loss is an important role in competitive exams. A reduction of x% in price enables a person to buy y kg more for Rs. (Q6)If a radio is purchased for Rs. 1).If there is a profit of P %, and Cost Price = C (given). The ratio of selling price and cost price will be. These solved examples will allow the students to understand problem sums and attend them independently. Your email address will not be published. 1. One can generate a profit only if Selling Price> Cost Price 2. Case-1: When dealer sells product at profit but alters weight Then the seller faces a loss. Profit and Loss Formula, Basic Concepts, and Ticks | Quantitative Aptitude . 4. Profit and Loss Formula Tricks 1. When selling price and percentage loss are given, then. = 517 = Rs. Here we provide you with a list of Profit Loss Formulas, Shortcuts and Tricks that you can use to solve questions: 1. Given, 70 per kg and 20 Kg of rice at a rate of Rs. His profit percent is. Question 10: A shopkeeper buys an article with a gain of 15% and sells them with a loss of 10%. 6 Commonly used Profit and loss Formulas : 1) Calculation of Profit: Profit or gain = Selling price (S.P) - Cost price (C.P) in other , Selling Price = Cost Price + Profit 2) Calculation of Loss Loss = Cost price - Selling price 3) Calculation of Gain percentage (%) 4) Calculation of Loss percentage (%) Based on the values of these prices, we can compute the profit or loss made for a given product. Cost price = selling price. In this video, I'll be talking about profit and loss - without any formula tricks. Loss Percentage = Loss/Cost Price 100% 10. Given, 7. When each of the two things is sold at the same price,and a profit of p% is made on the first and a loss of L% is made on the second,then the percentage gain or loss is . Since sp < cp So, the students of 5th grade can make use of this article and enhance their skills. Then the percentage of profit against selling price is. The simplest approach to determine profit and loss is by assessing the difference between the selling price and the cost price. (Q9)A merchant purchases a table for Rs 450 and fixes its list price in such a way that after allowing a discount of 10%, he earns a profit of 20%. 3. . 7. $360 $362 = $2 2. Selling price \( = \left\{{\left({\frac{{100 L\% }}{{100}}} \right)} \right\} \times CP\) (when \(SP < CP\))5. The Loss = Cost price Selling priceand. 1. What is the formula of \(SP\) and \(CP\)? A pen is bought for Rs. Today, I am going to discuss a very important topics in quantitative aptitude-Profit And Loss. Concept: Discount% always calculated on marked price. Loss: If the selling price is less than the cost price, the difference between them is the loss incurred. (a)22% (b)20% (c)18% (d)15%Solution:-Second Method:-, (17)By selling an article, a man makes a profit of 25% of its selling price. Profit and loss as a percentage is usually a measureto illustrate how much profit or loss a trader incurredfrom any deal. Embibe offers a range of study materials that contribute towards helping students prepare for their board examinations. One generates a loss when Selling Price < Cost Price. When you go to shop, the shopkeeper may gain a profit by selling you an item above its cost price. Question 8: A shopkeeper sold an item at a gain of 10%. Since we have learned the tricks let us move forward to solve some questions. After sometime he spent his sale proceedings to purchase the same item again.But this time he sold it at a loss of 10%. Find the overall profit or loss %.Solution: Here this formula will be used. 9. (Q15)An article is sold at 5% profit. 12. If the price of a commodity decreases by r% then increase in consumption , so as not to decrease expenditure on this item is, 14. ? Profit = SP - CP. It is to be noted that the concept of profit and loss and percentage are interlinked. The profit and loss percentage formulae are as follows: Profit percentage (P%) = (Profit /Cost Price) 100 Loss percentage (L%) = (Loss / Cost price) 100 S.P. 60/280 100 = 21.4%, Example 4. Profit And Loss Percentage formula Profit rate formula: The profit percent can be determined as: Profit % = 100 Profit/Cost Price. Ans: Cost Price \(\left({CP} \right)\): The amount paid to buy a product or the price at which a product is made is known as cost price.\({\text{Cost price = Selling price Profit}}\) (with profit)\({\text{Cost price = Selling price + Loss}}\)Selling Price \(\left({SP} \right)\): The price at which a product is sold is known as the selling price.\({\text{Selling price = Cost price + Profit}}\)\({\text{Selling price = Cost price Loss}}\), Q.3.

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