Visit one departmental Store to investigate cost price, marked price, sale price, profit, loss, profit or loss percent on at least 20 articles available in the store.
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Answers
Answer:
In the profit and loss section, the cost of a product is very crucial. If you have marked the cost of the product wrong, you may not see any profit at all. In the following section, we will see what we mean by marked price. We will also see all the other relevant terms and try and understand how to determine marked price such that the profit is maximum. Let us begin with the following space below!
The cost of a product is particularly important in the profit and loss section. If you have incorrectly marked the product's cost, you may not notice any profit at all. We'll look at what we mean by "market pricing" in the following section. We will also look at all of the other terms that are significant and try to understand how to establish the marked price such that the profit is maximised.
Customers are sometimes given a designated price as a psychological aid. A pair of headphones, for example, costs Rs 999/-. One firm has put the marked price at Rs 1000/-, resulting in a little discount on the indicated price. Another firm offers identical goods at the same price but labels it as Rs. 1499/-, creating the illusion of a significant bargain. Customers are more inclined to purchase the one with a larger price tag. This takes us to the topic of discounts.