Profit, Loss & Discount
Section: Word ProblemsBank code: WRD-PNLGRE frequency: MediumPro
1. Core Idea
Three prices, and the whole topic is about knowing which one is the base:
- Cost Price (CP) — what the seller paid.
- Selling Price (SP) — what the buyer paid.
- Marked Price (MP) — the listed price before discount.
Profit and loss percentages are based on CP. Discount percentages are based on MP. Almost every error in this topic is using the wrong base.
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