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Profit and Loss :

Absolute gain or loss : If a thing is sold for more money that it it bought for, then it is said to be sold at a gain or profit. If a thing is sold for less amount of money then it is bought for it is said to be sold at a loss.
   
          So, Gain = Selling price – Cost price
   
          So, Loss = Cost price – Selling price

Relative gain or loss : Relative gain is the gain as the percentage of cost price or the gain per rupee(unit) of cost price.

Remember:

(a)    Gain = (S.P) – (C.P) ; Loss = (C.P) – (S.P)

(d)    If the S.P of two articles is the same and on one he gains say x% and on the other  he loses x% then there is always a loss of x% of x.

(e)    If C.P. of two articles is the same and on one he gains x% and the other loses x% then there is no gain, no loss.

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