# Exam Mission

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IMPORTANT FACTS
Cost Price:
The price, at which an article is purchased, is called its cost price, abbreviated as C.P.
Selling Price:
The price, at which an article is sold, is called its selling prices, abbreviated as S.P.
Profit or Gain:
If S.P. is greater than C.P., the seller is said to have a profit or gain.
Loss:
If S.P. is less than C.P., the seller is said to have incurred a loss.
IMPORTANT FORMULAE
1. Gain = (S.P.) - (C.P.)
2. Loss = (C.P.) - (S.P.)
3. Loss or gain is always reckoned on C.P.
4. Gain Percentage: (Gain %)
 Gain % = Gain x 100 C.P.
5. Loss Percentage: (Loss %)
 Loss % = Loss x 100 C.P.
6. Selling Price: (S.P.)
 SP = (100 + Gain %) x C.P 100
7. Selling Price: (S.P.)
 SP = (100 - Loss %) x C.P. 100
8. Cost Price: (C.P.)
 C.P. = 100 x S.P. (100 + Gain %)
9. Cost Price: (C.P.)
 C.P. = 100 x S.P. (100 - Loss %)
10. If an article is sold at a gain of say 35%, then S.P. = 135% of C.P.
11. If an article is sold at a loss of say, 35% then S.P. = 65% of C.P.
12. When a person sells two similar items, one at a gain of say x%, and the other at a loss of x%, then the seller always incurs a loss given by:
 Loss % = Common Loss and Gain % 2 = x 2 . 10 10
13. If a trader professes to sell his goods at cost price, but uses false weights, then
 Gain % = Error x 100 %. (True Value) - (Error)