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Basic Definitions and Formulas Cost price (C.P.) : This is the price at which an article is purchased. Selling price(S.P.) : The price at which an article is sold, is called its selling price, Profit or Gain : If S.P. is greater than C.P. , the seller is said to have a profit or gain....
The problems of pipes and cisterns usually have two kinds of pipes, Inlet pipe and Outlet pipe / Leak. Inlet : A pipe connected with a tank or a cistern or a reservoir, that fills it, is known as an inlet. Outlet : A pipe connected with a tank or a cistern or a reservoir, emptyi...
1. Principal : The money borrowed or lent out for a certain period is called the principal or the SUM. 2. Interest : Extra money paid for using other’s money is called interest. Interest is the extra money paid by the borrower to the owner (lender) as a form of compensation for the us...