Profit And Loss

To make profit is the basic aim of any business.


Cost Price: It is the price at which any article or unit or item is bought. It is abbreviated as CP.


Selling Price: It is the price at which any article or unit or item is sold. It is abbreviated as SP.


Profit: If Selling Price is greater than Cost Price then seller makes profit.

            Profit = SP – CP


Loss: If Cost Price is greater than Selling Price then seller incurs loss.

            Loss = CP – SP


Basic Formulas:

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One point is to be noted that loss or profit is always calculated with reference to CP.

 


Short Cut Methods for Profit and Loss>>


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