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Ratio: Comparing by division is called ratio. Quantities written in ratio have the sameunit. Ratio has no unit. (Scroll down till end of the page)

Equality of two ratios is called proportion. Product of extremes = Product of means
Percentage: Percentage means for every hundred. The result of any division in
whichthe divisor is 100 is a percentage. The divisor is denoted by a special
symbol %, read as percent. Profit and Loss:
(i) Cost Price (CP): The amount for which an article is bought. (ii) Selling Price (SP): The amount for which an article is sold. Additional expenses made after buying an article are included in the cost price
and are known as overhead expenses. These may include expenses like amount
spent onrepairs, labour charges, transportation, etc. Discount is a reduction given on marked price. Discount = Marked Price – Sale
Price. Discount can be calculated when discount percentage is given. Discount

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