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Answer
Profit and Loss Formulae:
The principal amount is P, rate of interest is R and time of loan is T
Simple Interest = $$\frac{P*T*R}{100}$$
Amount = Principal + Simple Interest
Compound Interest = $$ P(1+\frac{R}{100})^{T}$$ - P
For the same principal, positive rate of interest and time period, the compound interest on the loan is always greater than the simple interest.
The cost price of an article is C.P, the selling price is S.P and the marked price is M.P
Profit (Loss) = S.P – C.P
% Profit (Loss) = Profit (Loss)/C.P *100
Discount = M.P – S.P
% Discount = Discount/M.P * 100
Total increase in price due to two subsequent increases of X% and Y% is (X+Y+XY/100)%
