PROFIT AND LOSS

                   Profit= S.P.-C.P.

                   Loss= C.P.-S.P.

S.P.=Selling price

C.P.=Cost price

Profit=Profit % x Cost price

Selling price= Cost price + profit

Loss=Loss% x Cost price

Selling price= Cost price-loss

We determine profit and loss based on cost price 

Loss %  = (loss x 100)/C.P.

Profit % =(gain x 100)/C.P

To find S.P. and C.P. when profit % and loss% are given

S.P. =[(100+gain%)/100] x C.P.

S.P. =[(100-loss%)/100] x C.P.

C.P.=[100/(100+gain%)] x S.P.

C.P.=[100/(100-loss%)] x S.P.

To find C.P. from profit and S.P.

C.P. at $ 100 is taken and S.P. is found

Then [C.P. (100)/S.P. at C.P. 100 ] x given S.P.