## Tricks To Solve Profit & Loss Problems

Profit & Loss is a basic concept of arithmetic in which we study the gain or loss in a business transaction.Profit & loss are the terms related to transactions in trade & business.Whenever a purchase article is sold, then either profit is earned or loss is incurred.This topic teaches us how to calculate such profit & loss.

**Cost Price (CP):** **The price at which an article is purchased.**

**Selling Price (SP):** **The Price at which an article is sold.**

**Marked Price (MP) or List Price: The price that is indicated or marked on the article.It is sometimes also referred to as label price.**

**Discount: It is reduction offered on the marked price.**

**Profit = SP – CP**

**Profit % = (Profit/CP) * 100**

**SP = [(100 + Profit %)/100] * CP**

**Loss = CP – SP**

**Loss % = (Loss/CP) * 100**

**SP = [(100 – Loss %)/100] * CP**

**Few Basic Concepts:**

**When there are 2 successive profit of x% and y%, then the resultant profit percent is given by:**

**If there is a profit of x% and loss of y% in a transaction, then the resultant profit or loss % is given by:**

**If CP of ‘m’ articles is equal to SP of ‘n’ articles, then Profit % is given by:**

**A single discount equivalent to discount series of x% and y% given by the seller is equal to:**

**If a seller marks his goods at x% above his CP and allows purchasers a discount of y% for cash, then overall profit or loss will be:**

**If a trader professes to sell his goods at CP, but uses false weights,then:**