Profit and Loss Question, Formulas -Profit and loss MCQ online test

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Profit and Loss Formulas

In this section, we have given some of the Profit and Loss Formulas. So, for all the candidates who are interested in profit & loss Aptitude questions and answers then, the below formulas will help them.

SP: Selling Price

CP: Cost Price

Gain = ${Gain}/{CP} × 100 $

SP =$ [ {(100 + Gain %)}/{100} × CP ] $

Loss % = $ {Loss}/{CP} × 100 $

SP = $ [ {(100 – Loss %)}/{100} × CP ] $

Some Basic Rules on Profit and Loss

Cost Price (CP) - This is the price at which a product is purchased.
Selling Price (SP) - This is the price at which a product is sold.
Profit or Gain - If the selling price is more than the cost price, the difference between them is the profit incurred.
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.
Loss = Cost price (CP) – Selling price (SP)
Profit or Loss is always calculated on the cost price.
Marked Price - This is the price marked as the selling price on a product, also known as the listed price.
Discount or Rebate - This is the reduction in price offered on the marked or listed price.
If a product is sold at a gain of 10%, then SP = 110% of CP.
If a product is sold at a loss of 10%, then SP = 90% of CP.
Profit or Loss always depends on the cost price but not on the selling price.
If an article is sold at a certain gain ‘X’ then Selling Price = (100 + X) % of Cost Price.
If an article is sold at a certain loss ‘X’ then Selling Price = (100 - X) % of Cost Price