 Hello and welcome to the session. In this session we will discuss about profit and loss. First of all let's discuss some definitions. First we have cost price or you can say Cp purchased the article at which it is sold. Now if the article is sold for more than what it costs that is if the selling price of the article that is SP is more than the cost price of the article, the article is sold for less than what it costs that is if the article is less than the cost price of the article then there is loss the article then this means not loss. This is the definition of additional expenses of transportation, repair and purchase included cost price. Let's discuss some formula. We have is equal to the selling price minus the cost price. The selling price is more than the cost price then there would be profit or gain. So profit is equal to the selling price minus the cost price then we have loss is equal to the cost price minus the selling price when the selling price of an article is less than the cost price of the article then there is loss. So loss would be equal to the cost price minus the selling price that the cost price is equal to the selling price minus the profit. We can also say price is equal to the selling price plus the loss then we have the selling price SP is equal to the cost price Cp is equal to cost price minus loss or loss percent and this is equal to or loss the cost price before multiplied by 100. We have to remember one point that the profit or loss percent is never calculated on the number of articles but it is calculated on the cost price of the article. An example in which we are given the cost price as the refrigerator $100 charges on the purchase of this refrigerator be given as the charges are the overhead expenses or you can see the overheads and it would be included in the cost price of the refrigerator. So this means the total Cp that would be the cost price of the refrigerator would be $700 plus $10 that we have the selling price of the refrigerator as $900 that the selling price of the refrigerator is more than the cost price of the refrigerator. This means that there is cost that is equal to the selling price minus the cost price. Let's now find out the profit equal to the selling price is equal to $900 minus is equal to $290 the refrigerator is $190 the profit percent would be equal to total profit upon the cost price of the article this whole multiplied by 100 and this whole multiplied by 100 so this is equal to $190 upon the cost price of the article which is $710 and this whole multiplied by 100. Let us now solve this equal to $26 and find out the loss percent by taking total loss upon the cost price and multiplied by 100. I hope you understood the concept of profit and loss.