## HOW TO CALCULATE PROFIT OR LOSS PERCENT

Cost Price :

The price at which an article is purchased, is called its cost price.

Selling Price :

The price at which an article is sold, is called the selling price.

Profit :

If the selling price is greater than cost price, the seller is said to have a profit.

Loss :

If the cost price is greater than selling price, the seller is said to have a loss.

## Formulas Used to Find Profit and Loss Percent

Profit (or) gain  -  Selling price - Cost price

Loss  =  Cost price - Selling price

Profit %  =  (Profit / Cost price) ⋅ 100

Loss %  =  (Loss / Cost price) ⋅ 100

## Examples

Example 1 :

A man buys an article for \$27.50 and sells it for \$28.60. Find his gain percent.

Solution :

Cost price of an article  =  \$27.50

Selling price of an article  =  28.60

Selling price  >  Cost price

So, the man gets profit

Profit  =  Selling price - Cost price

profit  =  28.60 - 27.50

Profit  =  1.1

Profit %  =  (Profit / Cost price) ⋅ 100

Profit %  =  (1.1/27.50) ⋅ 100

Profit %  =  4%

Hence the man get 4% profit.

Example 2 :

If a radio is purchased for \$490 and sold for \$465.50, find the loss percent.

Solution :

Cost price of radio  =  \$490

Selling price  =  \$465.50

Cost price  >  Selling price

Loss  =  Cost price - Selling price

loss  =  490 - 465.50

Loss  =  24.5

Loss %  =  (Loss / Cost price) ⋅ 100

=  (24.5/490) ⋅ 100

Loss %  =  5%

Hence the required loss% is 5%.

Example 3 :

A book was sold for \$27.50 with a profit of 10%. If it were sold \$25.75 then what would have been the percentage of profit or loss ?

Solution :

Selling price  =  \$27.50

This selling price includes 10% profit.

110% of cost price  =  27.50

Let x be the cost price

110% of x  =  27.50

x  =  27.50 ⋅ (100/110)

x  =  25

Cost price is \$25.

Selling price is greater than cost price, so there is profit.

Profit  =  Selling price - Cost price

Profit  =  25.75 - 25

Profit  =  0.75

Profit %  =  (Profit / Cost price) ⋅ 100

=  (0.75/25) ⋅ 100

=  (75/25) ⋅ 100

Profit  =  3%

Hence the required profit is 3%.

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