The mark up on a principal amount is Rs 620 for 6 months at 12.5% per anum. Calculate the pro
seller used a mark up rate of 30% per annum. Find the selling in
Answers
Answer:
Profit and Loss
Your friend gives you Rs. 100 for a pen that you got for Rs. 90. You sell it to him and then buy a cricket bat from him for Rs. 3000. Later you find out that the bat was worth Rs. 2995. Did you lose money or did you make a profit? When you do a business transaction like selling things if you earn some amount in the transaction that amount is called the profit and if you lose some amount then it is called loss. Let’s compare some quantities with profit and loss.
Comparison Using Profit and Loss
Cost Price: The amount paid to purchase an article or the price at which an article is made is known as its cost price. The cost price is abbreviated as C.P.
Selling Price: The price at which an article is sold is known as its selling price. The selling price is abbreviated as S.P.