signifies properly a hundred, being an abridgement of the word centum; but is often used in commerce to express the profit or loss arising from the sale of any commodity: so that when we say there is 10 per cent. profit, or 10 per cent. loss, upon any merchandise that has been sold, it is to be understood that the seller has either gained or lost 10l. on every 10l. of the price at which he bought that merchandise; which is $\frac{1}{10}$ of profit, or $\frac{1}{10}$ of loss, upon the total of the sale.