# Profit and Loss

Profit and loss depends on the cost price and selling price of an article.

Suppose, if a person buys an article for $70 and sells it for$100.

The cost-price (C.P.) of an article is the price at which the article is bought = $70 The selling-price (S.P.) of an article is the price at which the article is sold =$100

Since, the selling price of the article is more than its cost price; it is sold at a profit.

and, profit (gain) = $100 -$70 = $30 Thus, profit (gain) = selling price - cost price i.e. profit (gain) = S.P. - C.P. Similarly, if a person buys an article for$100 and sells it for $90; The cost-price of the article =$100

and its selling price = $90 Since, the selling price of the article is less than the cost price; it is sold at a loss. and, loss =$100 - $90 =$10

Thus, loss = cost price - selling price

i.e. loss = C.P. - S.P.

Note: S.P. is the short form for selling price and C.P. is the short form for cost price.

Corollary:

1. When selling price is more than cost price, there is a profit.

(i) profit = selling price - cost price            i.e. profit = S.P. - C.P.

(ii) selling price = cost price + profit          i.e. S.P. = C.P. + profit

(iii) cost price = selling price - profit          i.e. C.P. = S.P. - profit

2. When selling price is less than cost price, there is a loss.

(i) loss = cost price - selling price                i.e. loss = C.P. - S.P.

(ii) selling price = cost price - loss               i.e. S.P. = C.P. - loss

(iii) cost price = selling price + loss             i.e. C.P. = S.P. + loss

Solved examples on profit and loss:

1. A man bought an article for $10.50 and sold it for$12.

Here the cost price (C.P.) of the article is $10.50 and the selling price (S.P.) of the article is$12.00. Since the selling price of an article is more than its cost price; it is sold at a profit (gain).

Profit = selling price (S.P.) - cost price (C.P.)

= $12.00 -$10.50

= $1.50 2. A boy bought a second hand bicycle for$570. After one year he sold it for $350. Here the cost price (C.P.) of the bicycle is$570 and the selling price (S.P.) of the bicycle is $350. Since the selling price of an article is less than its cost price; it is sold at a loss. Loss = cost price (C.P.) - selling price (S.P.) =$570 - $350 =$220

To find Profit or Loss when Cost Price and Selling Price are Given

To find Selling Price when Cost Price and Profit or Loss are Given

To find Cost Price when Selling Price and Profit or Loss are Given

Examples on Profit and Loss

Calculate Profit Percent

Calculate Loss Percent

Calculate Profit or Loss Percent

Calculate Profit and Selling Price

Discount and Discount Percent

Didn't find what you were looking for? Or want to know more information about Math Only Math. Use this Google Search to find what you need.

## Recent Articles

1. ### Adding 1-Digit Number | Understand the Concept one Digit Number

Sep 17, 24 02:25 AM

Understand the concept of adding 1-digit number with the help of objects as well as numbers.

2. ### Counting Before, After and Between Numbers up to 10 | Number Counting

Sep 17, 24 01:47 AM

Counting before, after and between numbers up to 10 improves the child’s counting skills.

3. ### Worksheet on Three-digit Numbers | Write the Missing Numbers | Pattern

Sep 17, 24 12:10 AM

Practice the questions given in worksheet on three-digit numbers. The questions are based on writing the missing number in the correct order, patterns, 3-digit number in words, number names in figures…

4. ### Arranging Numbers | Ascending Order | Descending Order |Compare Digits

Sep 16, 24 11:24 PM

We know, while arranging numbers from the smallest number to the largest number, then the numbers are arranged in ascending order. Vice-versa while arranging numbers from the largest number to the sma…

5. ### Worksheet on Tens and Ones | Math Place Value |Tens and Ones Questions

Sep 16, 24 02:40 PM

In math place value the worksheet on tens and ones questions are given below so that students can do enough practice which will help the kids to learn further numbers.

Profit And Loss - Worksheets

Worksheet on Calculating Profit or Loss

Worksheet on Calculating Selling Price

Worksheet on Cost Price and Selling Price

Worksheet on Calculating Profit or Loss Percent

Worksheet on Profit or Loss Percent