all formula of profile and loss ????
Answers
Answer:
Cost Price (CP):The price paid to buy a particular product is called its cost price. Some overhead expenses such as transportation, taxes etc. are also included in the cost price.
Selling Price (SP):The amount of money received for the product when it is sold
Marked Price (MP):The price that is listed or marked on the product. This is also known as printed price/quotation price/invoice price/catalogue price.
Profit/ Gain:There is a gain/profit in a transaction if the selling price is more than the cost price. The excess of the selling price to the cost price is called profit/gain.
Profit = Selling Price - Cost Price
Loss:When the selling price is less than the cost price there is loss in the transaction. The excess of cost price over the selling price is called loss.
Loss = Cost Price - Selling Price
Profit% = 100 * Profit/Cost Price
Loss% = 100 * Loss/Cost price
When profit% and loss% is same:
If two items are sold each at Rs X, one at a gain of p % and the other at a loss of p %, then the two
transactions have resulted in an overall loss of, and the absolute value of the loss Rs.
Equal % profit & loss on the same cost price of two articles:
If the cost price of two items is X, and one is sold at a profit of p % and the other at a loss of p %, then the two transactions have resulted in no gain or no loss.
Trade Discount:Discount on the Marked Price to attract customers is known as Trade Discount.
Note:The discount is always taken as a % of the Marked Price, unless otherwise specified.
Example:Let the list price of an article be Rs. 450. A discount of 5% on its list price is announced. Then, the new selling price = 450 * 95/100 = Rs 427.5.
Cash Discount:In addition to trade discount, the manufacturer may offer an additional discount called the Cash Discount if the buyer makes full payment within a certain specified time.Cash Discount is usually offered on the net price (the price after subtracting discount from the marked price).
Therefore,
Cash Price = Net Price - Cash Discount
Note:Cash discount is always calculated on net price, unless otherwise specified.
False Weight:If a trader professes to sell his goods at cost price, but uses false weights, then
Successive Discounts:When a tradesman offers more than one discount to the customer, then the total discount offered is calculated by applying the method of decimals, learned in the topic of percentages.
Note:When the SP of x articles is equal to CP of y articles, what is the profit percent earned?
Answer:
your answer in attachment..
