Monday, January 11, 2016

Profit & Loss

Profit & Loss

》Cost Price(CP):- The price for which an article is bought is called it's cost price.

Selling Price(SP):-The price at which an article is sold is called it's selling price.

》Profit (Gain):- The difference between selling price and cost price is called profit.
   For profit , selling price should be greater than cost price.

》Loss:- The difference between the cost price and the selling price is called loss.
    When cost price is greater than the selling price, there is a loss.
    Profit and loss is generally represented as a percent of the cost price,unless  
    otherwise stated.

》Overhead Charges:- If an individual has to spend some money on transportation
     etc. , then this extra expenditure is called overhead charges.

》Marked Price (MP):- The price on the level is called marked price or list price.

》Discount:- The reduction made on the 'marked price' of an article is called discount.
    When no discount is give ' selling price' is the same as marked price.

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