Profit, Loss & Discount: Complete Notes, Formulas, Examples, and Practice Questions
Profit, Loss & Discount: Complete Notes, Formulas, Examples, and Practice Questions 1. Key Concepts and Formulas A. Cost Price (CP), Selling Price (SP), Marked Price (MP) Cost Price (CP): The price at which an article is purchased. Selling Price (SP): The price at which the article is sold. Marked Price (MP): The price marked/tagged on the article (before any discount). B. Profit and Loss Profit (P): When SP > CP Profit = SP − CP Profit = SP − CP Loss (L): When CP > SP Loss = CP − SP Loss = CP − SP Profit Percentage (P%): Profit % = ( Profit CP ) × 100 Profit % = ( CP Profit ) × 100 Loss Percentage (L%): Loss % = ( Loss CP ) × 100 Loss % = ( CP Loss ) × 100 C. Selling Price and Cost Price Formulas SP (when profit % known): SP = ( 100 + P % 100 ) × CP SP = ( 100 100 + P % ) × CP SP (when loss % known): SP = ( 100 − L % 100 ) × CP SP = ( 100 100 − L % ) × CP CP (when profit % and SP known): CP = ( 100 100 + P % ) × SP CP =...