Question

Formulas related to selling and cost price

Answer 1

When the Selling Price (SP) is greater than Cost Price (CP) the man makes a Profit or Gain.

Profit = Selling Price (SP) – Cost Price (CP)


If profit % is required to find then,

Profit % = (Profit/Cost Price) × 100


When the Selling Price (SP) is less than Cost Price (CP) the man suffers a Loss.

Loss = Cost Price (CP) - Selling Price (SP)

If loss % is required to find then,

Loss % = (Loss/CP) × 100