1. Find cost price and profit

2. Cost Price(CP) + Profit(P) = Selling Price (S.P)
Profit means, your Selling Price (S.P) is more than your Cost Price(C.P)
This means, you sold something for more price than what you purchased it for.
The extra price that you sold it for is called as Profit
Cost Price(CP) + Profit(P) = Selling Price (S.P)
We can say that the difference between Selling Price and Cost Price is Profit
Profit(P) = Selling Price (SP) ̶ Cost Price(CP)
Cost Price(CP) = Selling Price (SP) - Profit(P)

3. Cost Price(CP) ̶ Loss (L) = Selling Price (S.P)
Loss means, your Cost Price (C.P) is more than your Selling Price(S.P)
This means, you sold something for less price than what you purchased it for.
The lesser price that you sold it for is called as Loss
Cost Price(CP) ̶ Loss (L) = Selling Price (S.P)
We can say that the difference between Cost Price and Selling Price is Loss
Loss(L) = Cost Price(CP) - Selling Price (SP)
Cost Price(CP) = Selling Price (SP) + Loss(L)

4. Example1: Vinod got a bike for Rs 35,000 and after few year spent Rs 3,500 on repair
and sold it for Rs 24,000. Find his profit and loss value.
Solution
Given:- Bike Cost= Rs 35000, Repair cost = Rs 3,500 , Selling Price(SP)=Rs 24000
To Find :- profit and loss value
Total Cost Price (CP) = Bike Cost + Repair Cost =
Cost Price (CP) = Selling Price(SP) =
Since SP < CP there is Loss
Loss(L) = Cost Price(CP) ̶ Selling Price(SP) = =
Ans: Loss(L) = Rs 14,500
Profit = SP ̶ CP
Loss = CP ̶ SP

5. Example2: Vinod bought a cloth for Rs 340 and spent Rs 150 to tailor for making
shirt. Then sold the Shirt for Rs Find his profit and loss value.
Solution
Given:- Cloth cost = Rs 340, Tailoring cost = Rs 150 , Selling Price(SP) = Rs 750
To Find :- profit and loss value
Total Cost Price (CP) = Cloth cost + Tailoring cost =
Total Cost Price (CP) = 490
Since SP > CP there is Profit
Profit(P) = Selling Price(SP) ̶ Cost Price(CP) =
= 260
Ans: Profit(P) = Rs 260
Profit = SP ̶ CP
Loss = CP ̶ SP

6. Try these Vinod sold his gold ring for Rs 14,500 at a profit of
Rs Find the cost price of the gold ring
2. Priya bought a smartphone for at a loss of Rs 7000.
Find the selling price of the phone.