Maths formulas # 02 :)


PROFIT AND LOSS

IMPORTANT FACTS

Cost Price:
The price, at which an article is purchased, is called its cost price, abbreviated as C.P.

Selling Price:
The price, at which an article is sold, is called its selling prices, abbreviated as S.P.

Profit or Gain:
If S.P. is greater than C.P., the seller is said to have a profit or gain.

Loss:
If S.P. is less than C.P., the seller is said to have incurred a loss.

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.
  1. Loss Percentage: (Loss %)
    Loss % =
Loss x 100
C.P.
  1. Selling Price: (S.P.)
    SP =
(100 + Gain %)
x C.P
100
  1. Selling Price: (S.P.)
    SP =
(100 - Loss %)
x C.P.
100

  1. Cost Price: (C.P.)
    C.P. =
100
x S.P.
(100 + Gain %)
  1. 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 say x%, and the other at a loss of x%, then the seller always incurs a loss given by:

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

  1. If a trader professes to sell his goods at cost price, but uses false weights, then
    Gain % =
Error
x 100
%.
(True Value) - (Error)



AVERAGE
  1. Average:
Average =
Sum of observations
Number of observations
  1. Average Speed:
Suppose a man covers a certain distance at x kmph and an equal distance at y kmph.

Then, the average speed druing the whole journey is
2xy
kmph.
x + y

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