**CAT , GMAT , GRE , MBA**

cost Price:

The price at which an article is bought.

Selling Price :

The price at which an article is sold.

Profit or Gain :

If an article is sold at higher price than the proce at which it is bought then the seller is said to have profit.

Loss:

If the cost at which an article was bought is higher than the price which it is sold then the seller is facing a loss.

(SP means Selling price, CP means Cost price,P means Profit, L means Loss)

If the article is sold at profit of 10% then SP=110% of CP

If the article is sold at 10% loss then SP=90% of CP

Profit = Selling price - Cost price.

Loss = Cost price - Selling price.

Ratio of profit to cost price = P : C.P.

Percentage of profit = (P/c.p)*100.

Percentage of loss = (L/c.p)*100.