Important Point for Profit and Loss:
Profit: When you earn some extra money for what you have invested in a product is called as Profit. If cost price is greater than the sell price, then is called as Profit. Suppose, if you have invested around Rs. 20, and sold it for Rs. 25, then you have profit of Rs. 5.
Loss: When you get less money from the total invested money for a product, it is called as Loss. If sell price is less than the cost price, then Loss is occurs. If you bought a product for Rs. 15 and sold it for just Rs. 12, then you have loss Rs. 3.
Cost Price(C.P.): The price at which product is bought is called as Cost Price.
Sell Price(S.P.): The price at which the product is sold is called as Selling Price.
Important Formula for Profit and Loss:
1. Gain = Selling Price – Cost Price
2. Loss = Cost Price – Selling Price
3. Gain Percentage %:
4. Loss Percentage %:
5. Selling Price:
6. Cost Price(Gain):
7. Cost Price(Loss):