Tag: Notes

Profit & Loss Profit and loss are the terms related to monetary transactions in trade and business. Whenever a purchased article is sold, then either profit is earned or loss is incurred.   Cost Price (CP) :This is the price at which an article is purchased or manufactured. Selling Price (SP): This is the price at which an article is sold.   Profit (SP>CP) :When an article is sold at a price more than its cost price, then profit is earned. Loss (CP>SP) :When an article is sold at a price lower…

Cost Price–The price at which an article is purchased is called its cost price (C.P.) Selling Price-The price at which the article is sold is called its selling price (S.P.) If the cost price (C.P.) of the article is equal to the selling price (S.P.), Then there is no loss or gain. If the selling price (S.P.) > cost price (C.P.), then the seller is said to have a profit or gain, Gain or Profit = S.P. – C.P. If the cost price (C.P.) > selling price (S.P.), then the…

Profit & Loss: Cost Price-The price at which an article is purchased is called its cost price (C.P.) Selling Price-The price at which the article is sold is called its selling price (S.P.) CP = Cost Price = The price at which an object is Purchased SP = Selling Price = The price at which the object is Sold. When SP < CP → Loss = CP – SP When SP > CP → Profit = SP – CP Note: Loss% and Profit% both are calculated upon CP Profit% =…