Profit and Loss: Discount

We have already studied the concept of profits and loss in the previous class. However, we will recall the definition and formulae.

The amount paid to purchase an article is called its Cost price abbreviated as C.P

The amount at which an article is sold is called its Selling Price abbreviated as S.P.
When an article is sold for more than what is costs we say there is a profit or gain and Gain= (S.P)-(C.P)

When an article is sold for less than what it costs we say there are a loss and loss =(C.P)-(S.P)
Formulae
Gain % = (Gain*100)/C.P.)
Loss % = (Loss*100)/C.P.)
S.P. = (100-Loss%)/100*(C.P.)
C.P. = (100)/100+ Gain%)* (S.P.)
C.P. = (100)/100-Loss%)* (S.P.)

Discount

When the price of an article is reduced and then it is sold, it is said to be sold at a discount. The discount means a reduction in price. This reduction or discount is normally expressed in percent.