IMPORTANT FACTSCost Price:The price, at which an article is purchased, is called itscost price, abbreviated asC.P.Selling Price:The price, at which an article is sold, is called itsselling prices, abbreviated asS.P.Profit or Gain:If S.P. is greater than C.P., the seller is said to have aprofitorgain.Loss:If S.P. is less than C.P., the seller is said to have incurred aloss.IMPORTANT FORMULAE

1. Gain = (S.P.) - (C.P.)
2. Loss = (C.P.) - (S.P.)
3. Loss or gain is always reckoned on C.P.
4. Gain Percentage: (Gain %)

   Gain % =		Gain x 100
   		C.P.

5. Loss Percentage: (Loss %)

   Loss % =		Loss x 100
   		C.P.

6. Selling Price: (S.P.)

   SP =		(100 + Gain %)	x C.P
   		100

7. Selling Price: (S.P.)

   SP =		(100 - Loss %)	x C.P.
   		100

8. Cost Price: (C.P.)

   C.P. =		100	x S.P.
   		(100 + Gain %)

9. Cost Price: (C.P.)

   C.P. =		100	x S.P.
   		(100 - Loss %)

10. If an article is sold at a gain of say 35%, then S.P. = 135% of C.P.
11. If an article is sold at a loss of say, 35% then S.P. = 65% of C.P.
12. When a person sells two similar items, one at a gain of sayx%, and the other at a loss ofx%, then the seller always incurs a loss given by:

    Loss % =		Common Loss and Gain %		2	=		x		2	.
    		10					10

13. If a trader professes to sell his goods at cost price, but uses false weights, then

    Gain % =		Error	x 100	%.
    		(True Value) - (Error)