Percentage: A fraction with its denominator 100 is equal to that per cent as is the numerator.
Rate percent: By A × per cent, we mean × hundredths × per cent is written as x%.
x% = × hundredths = X/100
Cost price: The amount paid to purchase an article is called its cost price (C. P.).
Overhead expenses like cartage, labour charges, taxes, etc. are also included in the cost price.
Selling price: The amount at which an article is sold, is called its selling price (S. P.).
Profit: If (S.P.) > (C.P.), the seller is said to have a profit or gain and it is equal to (S.P.) - (C.P.)
Loss: If (S.P.) < (C.P.), the seller has a loss and it is equal to (C.P.) - (S.P.)
Note: Loss and gain are always reckoned on the cost price.
Gain and Loss Percent: Gain on Rs. 100 is gain per cent and loss on Rs 100 is loss per cent.
(i) Gain%= (Gain*100)/C.P.
(ii) Loss%= (Loss*100)/C.P.
(iii) S.P = ((100*Gain%)/100)× (C.P)
(iv) S.P = ((100 - Loss%) / 100 )× C.P.
(v) C.P. = 100* S.P. / 100+ Gain%
(vi) C.P. = 100*S.P. / 100-Loss%
Discount: The reduction made on the 'marked price' of an article, is called discount or trade discount
Net price: The price after deducting the discount is called the net price. Net price = M.P. - Discount
Successive discounts: If two or more discounts are allowed one after the other, then such discounts are known as successive discounts.
Note: The discount is always considered on the marked price.
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