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.
》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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