Profit and loss is one of the most frequently asked topics from percentages in the CAT exam. With proper practice and clear understanding of its concepts, one can easily increase his/her CAT exam score as it is also one of the easiest topics from Quants. If you are preparing for CAT exam then you should be well aware of the concepts discussed below

Selling Price – The price at which the commodity is sold to its buyer

Cost Price – The actual price of the commodity

If SP > CP then the seller will be in profit

If SP < CP then the seller will be in loss

If SP = CP then the seller will be in a state of no profit no loss

Profit = Selling Price – Cost Price

And consequently, Loss = Cost Price – Selling Price