which one is correct a) Loss=Cp-SP b) SP=CP-loss c) Both A&B d) None of these
Answers
a)Loss=cp-sp
here cp is cost price or marked price and sp is selling price
Cost price
cost price is the original price of an item. The cost is the total outlay required to produce a product or carry out a service. Cost price is used in establishing profitability in the following ways: Selling price (excluding tax) less cost results in the profit in money terms.
selling price
The term 'selling price' is defined as the price at which a good or service is sold by the seller to the buyer. ... In other words, it is a market value or agreed exchange value that enables a buyer to purchase goods or services. It is also known as list price, quoted price, market price, or sale price.
Loss
Loss is defined as having something or someone leave or be taken away from you, a feeling of grief when something is gone, or a decline in money. An example of loss is when your parent dies. An example of loss is when you are fired from your job. An example of loss is what you feel when your pet dies.