Profit and loss in mathematics

In mathematics, the price of a product on the market and an organization’s profitability are determined using the profit and loss formula. For every good, there is a selling price and a cost price. Based on the values of these prices, we can determine the profit or loss for a certain product.

This article's main topics(Profit and loss in mathematics) include cost price, fixed, variable, and semi-variable costs, selling price, marked price, list price, margin, etc.Here, we also learn about the formula for profit and loss percentages. For instance, if a dealer’s selling price is higher than the product’s cost price, they are making a profit; if the cost price is higher than the selling price, they are losing money.

Formula of Profit and loss

👉 C.P. = Cost Price (Purchasing Price + Repairing/ Maintenance Cost, {if any})

👉 S.P = Selling Price

RULE 1 : If S.P > C.P. then there will be profit . And the profit will be calculate as = S.P - C.P .

☑ Profit% = (100✖ Profit)/ Cost Price

RULE 2 : If C.P > S.P., then there will be Loss . And loss will be calculate as = C.P - S.P

☑ Loss% = (100✖ Loss)/ Cost Price

RULE 3 : If an object is sold on x% Profit

👉 Then , S.P = C.P{(100+Profit%) / 100} & C.P = S.P{100 / (100+Profit%)}

✅ If an object is sold on x% loss

👉 Then , S.P = C.P{(100 - Loss%) / 100} & C.P = S.P{100 / (100 - Loss%)}

S.P. = 100 100 L - N M O Q P Loss% or C.P. = S.P. 100 100- L N M O Q P Loss%

Profit and Loss Tricks:-

Profit, P = SP – CP; SP>CP
Loss, L = CP – SP; CP>SP
P% = (P/CP) x 100
L% = (L/CP) x 100
SP = {(100 + P%)/100} x CP
SP = {(100 – L%)/100} x CP
CP = {100/(100 + P%)} x SP
CP = {100/(100 – L%)} x SP
Discount = MP – SP
SP = MP -Discount

Example:-

1. A man buys a cycle for 1200 and sells it at a loss of 5%. What is the selling price of the cycle?

(a) 1202 (b) 1190 (c) 1160 (d) 1140

Answer:- (d) 1140

2. On selling an article for 657, there is a loss of 10%. The cost price of that article is

(a) 744 (b) 751 (c) 730 (d) 700

Answer :- (c) 730

3. A milkman bought 80 liters of milk for 720 and added 10 liters of water. If he sells it at 9.00 per liter, his profit percentage is

(a) 8.15 % (b) 7% (c) 8.25 % (d) 12.5%

Answer :- (d) 12.5%