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2. Selling Price: The price at which an article is sold, is called its selling price, abbreviated as S.P.
3. Profit Or Gain: If S.P. is greater than C.P., the seller is said to have a profit or Gain.
4. Loss: If S.P. is less than C.P., the seller is said to have incurred a loss.
5. Formulae:
i) Gain = SP - CP
ii) Loss = CP - SP
iii) Loss or Gain is always reckoned on CP.
iv) Gain % = (Gain X 100)/CP
v) Loss % = (Loss X 100)/CP
vi) SP = [(100+Gain%)/100] X CP
vii) SP = [(100-Loss%)/100] X CP
viii) CP = [100/(100+Gain%)] X SP
ix) CP = [100/(100-Loss%)] X SP
x) If an article is sold at a gain of say , 35 % , then SP = 135 % of CP
xi) If an article is sold at a loss of say , 35 % , then SP = 65 % of CP
xii) 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 or gain %)/10]2
= (x/10)2
xiii) If a trader professes to sell his goods at cost price , but uses false waits, then
Gain % = [Error/(True Value - Error)] X 100 %
© 2022 Company, Inc. All rights reserved.