Profit

When an article is sold at a price greater than its cost price, it implies profit is made.

Profit = selling price – cost price         p = s.p – c.p

Profit percent = s.p-c.pc.p * 100

Ex: A business man sells a 607 Peugeot car for 840000frs and makes a profit of 20% on the cost price. Find the cost price of the car.

Solution:

 NB: the c.p for any article is the market = 100%

P%= 20%, c.p% = 100%, s.p = 100% + 20% = 120%, s.p = 840000frs

If 120% = 840000frs, 100% = 100*840000120 = 700000frs

Loss

Loss is made whenever the selling price is less than the cost price of any article

Loss = c.p – s.p

Loss% = c.p-s.pc.p * 100%

Ex: A dealer sells a car for 680000frs, making a loss of 15%, find the cost price

Solution:

s.p = 680000frs, l% = 15%, c.p = 100%, s.p% = 100-15 = 85%

If 85% = 680000frs, then 100 = 100*68000085 = 800000frs