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Introduction: Profit, Loss and Discount
Cost price (C.P.): This is the price at which an article is purchased.
Profit or Gain: If the selling price is more than the cost price, the difference between them is the profit incurred.
Formula: Profit or Gain = S.P. – C.P.
Loss: If the selling price is less than the cost price, the difference between them is the loss incurred.
Marked price: This is the price marked as the selling price on an article, also known as the listed price.
Below is the list of some basic formulas used in solving questions on profit and loss:
The above two formulas can be stated as,
CP = [100 / (100 + Gain%)] * SP
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