The Mormon Gospel versus the Bible explanation

 

Romans 3:21

Yes, all have sinned; all fall short of God’s glorious ideal;

yet now God declares us “not guilty” of offending him if we trust in Jesus Christ, who in his kindness freely takes away our sins.

For God sent Christ Jesus to take the punishment for our sins and to end all God’s anger against us. He used Christ’s blood and our faith as the means of saving us from his wrath. In this way he was being entirely fair, even though he did not punish those who sinned in former times. For he was looking forward to the time when Christ would come and take away those sins.

And now in these days also he can receive sinners in this same way because Jesus took away their sins. But isn’t this unfair for God to let criminals go free, and say that they are innocent? No, for he does it on the basis of their trust in Jesus who took away their sins.

Then what can we boast about doing to earn our salvation? Nothing at all. Why? Because our acquittal is not based on our good deeds; it is based on what Christ has done and our faith in him.

So it is that we are saved by faith in Christ and not by the good things we do.

Here are but many explanations on what the Gospel is by Mormons 

 Answers to Gospel Questions Vol. 3 pp 98-99 under Counsel given by President Charles W. Penrose

Now, some of our brethren have taken up quite a discussion as to the fulness of the everlasting gospel. We are told that the Book of Mormon contains the fulness of the gospel, that those who like to get up a dispute, say that the Book of Mormon does not contain any reference to the work of salvation for the dead, and that there are many other things pertaining to the gospel that are not developed in that book, and yet we are told that the book contains "the fulness of the everlasting gospel." well what is the fulnesspel? You read carefully the revelation in regard to the three glories, section 76, in the Doctrine and Covanants, and you find there defined what the gospel is, There God the Eternal Father, and Jesus Christ, his son, and the Holy Ghost, are held up as the three persons in the Trinity-the one God the Father, the Word, and the Holy Ghost, all three being one God. When people believe in that doctrine and obey the ordinances which are spoken of in the same list of principals, you get the fulness of the gospel for this reason:

General Conference Report, April 1922, pp 27-28.