Question

food cost is 30 and 40% gross profit is required what is selling price? ​

Answer 1

In the following section, we will define what we mean by the concept of Selling Price and see some solved examples that shall help us to solve the questions of Selling Price. Profit and loss is the branch of basic mathematics which deals with the study of profit and loss made in a business transaction. The profit and loss account is fundamentally a summary of the trading transactions of a business and shows whether it has made a profit or loss during a particular period of account. Indeed, by deducting the total expenditure from total income the profit or loss of a business can be calculated.

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