Question

what is profit and loss

Answer 1

Answer:

Profit = income is more than investment\Cost

loss=income is less than investment\cost.

Answer 2

Profit and loss

wherever we need any article in our daily routine we go to the marker where shopkeeper sells a lot of articles

The shopekeper buys these articles either directly from a manufacturer or through a wholesaler.

The price at which an item is bought is called its cost price . it is abbreviated as CP.

Sometimes , there are additional expenses also on transport , commission ,labour and so on .Such expenses are called overhead expenses .

Overhead expenses. Overhead expenses are included in the cost price of the item.

•°•Total cost price

=original cost +overhaed expenses

For example , a seller purchased a refrigerator for 25,000 and spent 300 on labour and transport.

•°•Cost price of the refrigerator

=25,000+300

=25,300

The price at which an item is sold is called its selling price .It is abbreviated as SP.

if the selling price is greator than the cost price ,the shopkeeper earns a profit

•°• Profit =selling price - cost =SP-CP

Profit percentage

=(profit/costprice×100)%

CP=SP×100/(100+profit%) when SP and profit % are given .

SP=100+profit %/100×CP

If the selling price is less than the cost price ,the shopkeeper incurs a loss

•°•Loss=cost price - selling price =CP-SP

Loss percentage

=(loss/cost price ×100)%

CP=100/100-Loss%×SP

SP= 100-loss%/100×CP

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