Table of contents  
Profit(P)  
Loss(L)  
Profit and Loss Formulas  
Profit and Loss Examples  
Profit and Loss Tricks 
The amount gained by selling a product for more than its cost price.
The amount the seller incurs after selling the product less than its cost price is mentioned as a loss.
Cost Price (CP)
The amount paid for a product or commodity to purchase is called a cost price. Also, denoted as CP. This cost price is further classified into two different categories:
Selling Price (SP)
The amount for which the product is sold is called the Selling Price. It is usually denoted as SP. Also, sometimes called a sale price.
Marked Price Formula (MP)
This is basically labelled by shopkeepers to offer a discount to the customers in such a way that,
Now let us find the profit formula and loss formula.
Profit or Gain = Selling price – Cost Price
Loss = Cost Price – Selling Price
The formula for the profit and loss percentage is:
These are some common examples of the profit and loss concept in real life, which we observe regularly.
You have learned until now how to calculate profit, loss, and percentage of them. Now let us learn some tricks or formulas to solve maths problems based on gain and loss.
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