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
Gain = (S.P.) - (C.P.)
Loss = (C.P.) - (S.P.)
Loss or gain is always reckoned on C.P.
Gain Percentage: (Gain %)
Gain % = Gain x 100
C.P.
Loss Percentage: (Loss %)
Loss % = Loss x 100
C.P.
Selling Price: (S.P.)
SP = (100 + Gain %) x C.P
100
Selling Price: (S.P.)
SP = (100 - Loss %) x C.P.
100
Cost Price: (C.P.)
C.P. = 100 x S.P.
(100 + Gain %)
Cost Price: (C.P.)
C.P. = 100 x S.P.
(100 - Loss %)
If an article is sold at a gain of say 35%, then S.P. = 135% of C.P.
If an article is sold at a loss of say, 35% then S.P. = 65% of C.P.
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
If a trader professes to sell his goods at cost price, but uses false weights, then
Gain % = Error x 100 %.
(True Value) - (Error)
ANSWERS FOR TODAY
1 a
2 a
3 c
4 d
5 c
6 c
7 d
8 d
9 b
10 c
11 d
12 d
13 b
14 a
15 b
16 c
17 c
18 a
19 a
20 b
21 b
22 b
23 b
24 a
25 a
26 a
27 c
28 d
29 d
30 c
31 a
32 d
33 a
34 d
35 d
36 d
37 b
38 b
39 d
40 a
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