__Profit & Loss__

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

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**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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