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### Theory:

To find the profit or loss percentage, we can use the following formulas:

1. To determine the profit percentage:

If the profit and the cost price of the product are given, we can find the profit percentage.

Profit $$\% =$$ $\frac{\mathit{Profit}}{\mathit{Cost}\phantom{\rule{0.147em}{0ex}}\mathit{price}}×100$

2. To determine the loss percentage:

If the loss and the cost price of the product are given, we can find the loss percentage.

Loss $$\% =$$ $\frac{\mathit{Loss}}{\mathit{Cost}\phantom{\rule{0.147em}{0ex}}\mathit{price}}×100$.

If any two values are known in the above formulas, we can figure out the other values by simply rearranging the formulas.
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