Note: All the problems on profit and loss can be reduced to a single step that can be solved directly using the formula S.P. =C.P. (1±0.01x), where x is the profit/loss percent. Remember that the ’+’ve sign is used when a profit is incurred and the ‘-’ve sign is used when a loss is incurred.
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Profit and Loss
Profit and Loss: Profit Formula, Profit Percentage Formula, Gross Profit, Profit and Loss Questions, Problems with Solutions