**Cost Price (CP):**The money paid by the shopkeeper to the manufacturer or whole -seller to buy goods is called the cost price (cp) of the goods purchased by the shopkeeper.

**Selling Price (SP):**The price at which the shopkeeper sells the goods is called selling price (s.p) of the goods sold by the shopkeeper to the customer.

**Profit:**If the selling price of an article is more than its cost price, then the dealer (or shopkeeper) makes a profit (or gain) i.e.,

**Profit = SP – CP; SP > CP**

**Loss:**If the selling price of an article is less than its cost price, the dealer suffers a loss i.e.,

**Loss = CP – SP; CP > SP**

**Some Important Formulae:**

- Profit = SP – CP
- Loss = CP – SP
- Profit percentage = Profit 100 % CP
- Loss percentage = Loss 100 % CP
- S.P ==
- C.P =
- SP = (100 + x)% of CP; when Profit = x% of CP
- SP = (100 – x)% of CP; when Loss = x% of CP

**Example :**A man purchases an item for Rs. 120 and he sells it at a 20 percent profit, find his selling price

**Sol.**SP = =

**Note:**Profit /Loss percentage is always calculated on C.P. unless otherwise stated.

**MARK UP AND DISCOUNT**

**Marked Price:**To avoid loss due to bargaining by the customer and to get profit over the cost price, the trader increases

the cost price. This increase is known as markup and the increased price (i.e., cp+markup) is called the marked price or printed price or list price of the goods.

Marked Price = CP + markup

Marked Price = CP+

Generally goods are sold at marked price, if there is no further discount, then in this case selling price equals marked price.

**Discount:**Discount means reduction of marked price to sell at a lower rate or literally discount means concession. Basically, it is calculated on the basis of marked price.

Selling price = Marked price – Discount

Selling price = MP Dishonest Dealer Case:<> If a trader professes to sell his goods at cost pr ice, but uses false weights, then % gain = Where two articles are sold at same price but one of them at a profit and another at a loss and the percentage profit is the

same as the percentage loss, In this case there is always a loss.

Loss%=

When two successive discounts on an article are x% and y% resp. then net discount:

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