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Profit and loss is the one of major question section in Competitive exams. These formulas will be helpful for your upcoming Exams like PSC, SSC, IBPS and Other Competitive 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.

- 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

1. The cost price of 40 apples is the same as the selling price of 25 apples. Find the gain percent.

Answer:

=(40-25)/25×100

=15/25×100=60%.

2. A Table was purchased for Rs. 470 and sold at a profit of 10%. Find the selling price.

Answer:

=(100+10)/100 X 470

=517.

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