Cost Price: The amount paid to an article is called cost price and it is denoted by CP.
Selling Price: The amount at which an article is sold is called selling price and it is denoted by SP.
Profit or Gain: If SP is greater than CP , then seller is said to have a profit or gain and it is equal to (SP - CP).
Loss: If SP is less than CP, then the seller is said to have a loss and it is equal to (CP - SP).
Marked Price: MRP of an article is called marked price it is denoted by MP
NOTE:
Important Formulae:
Selling Price: The amount at which an article is sold is called selling price and it is denoted by SP.
Profit or Gain: If SP is greater than CP , then seller is said to have a profit or gain and it is equal to (SP - CP).
Loss: If SP is less than CP, then the seller is said to have a loss and it is equal to (CP - SP).
Marked Price: MRP of an article is called marked price it is denoted by MP
NOTE:
- Profit and loss are counted on CP.
- cp is 100% in the case of profit and loss.
- Discount always carried on MP.
- MP is 100% in the case of discount.
Important Formulae:
- Profit(P) = SP - CP.
- Loss (L) = CP - SP.
- CP = SP + Profit(P) or CP = SP - Loss(L).
- Gain% = Gain X 100 / CP
- Loss% = Loss X 100 / CP.

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