60-second card
Profit and loss percent
Profit or loss percent is always worked out on the cost price (CP).
- Profit = SP − CP; loss = CP − SP.
- Profit % = profit ÷ CP × 100.
- SP for a 15% profit = CP × 1.15; for a 20% loss = CP × 0.8.
Example: Bought for ₹40, sold for ₹50. Profit = 10. 10 ÷ 40 × 100 = 25% profit.
Remember: Percent of the cost price, not the selling price.
Common mistake: Dividing the profit by the selling price.