Profit and loss is the one of major question section in PSC exams.

**Cost Price(CP) :** The Price at which a particular item purchased, is called its Cost Price.

**Selling Price (SP) :** The price at which a particular item is sold, called its Selling Price.

**Profit :** If Selling Price of an item is more than Cost Price , then vendor is said to have a Profit.

**Loss :** if Selling Price of an item is less than Cost Price, the vendor said to have a Loss.

**Formulas**

**Profit = SP – CP**

** Profit % = Profit/(CP)×100**

** SP = ((100+Profit% )/100)×CP**

** CP = (100/(100+Profit%))×SP**

** Loss = CP – SP**

** Loss% = Loss/(CP)×100**

** SP = ((100-loss%)/100)×CP**

** CP = (100/(100-loss%))×SP**

*Examples:*

- The cost price of 40 Oranges is the same as the selling price of 25 Oranges. Find the gain percent.

Answer:

=(40-25)/25×100

=15/25×100=60%.

- A Chair was purchased for Rs. 400 and sold at a profit of 10%. Find the selling price.

Answer:

=(100+10)/100 X 400

=440.