Profit and Loss:

In the given problem, we are given the selling price and the cost price of an item. We need to find the profit or loss percentage.

Cost Price:

The cost price (CP) is the price at which the item is bought or produced. In this case, the cost price is given as 4150.

Selling Price:

The selling price (SP) is the price at which the item is sold. In this case, the selling price is given as 3600.

Profit:

Profit is the amount obtained when the selling price is greater than the cost price. It is calculated as the difference between the selling price and the cost price.

Profit = Selling Price - Cost Price

Profit = 3600 - 4150 = -550

Since the result is negative, it means there is a loss instead of a profit.

Loss:

Loss is the amount obtained when the cost price is greater than the selling price. It is calculated as the difference between the cost price and the selling price.

Loss = Cost Price - Selling Price

Loss = 4150 - 3600 = 550

The loss in this case is 550.

Loss Percentage:

Loss percentage is calculated as the ratio of the loss to the cost price, multiplied by 100.

Loss Percentage = (Loss / Cost Price) * 100

Loss Percentage = (550 / 4150) * 100

Loss Percentage = 13.25%

Therefore, the loss percentage in this case is 13.25%.

Summary:

- The cost price is given as 4150.
- The selling price is given as 3600.
- The profit is calculated as the difference between the selling price and the cost price, which is -550 in this case, indicating a loss.
- The loss percentage is calculated as the ratio of the loss to the cost price, multiplied by 100, which is 13.25%.

Loss= CP-SP