U&I

U&I: PRO... :  PROFIT AND LOSS When we face problems on profit and loss, there is need to understand what ...

                                               PROFIT AND LOSS When we face problems on profit and loss, there is need to understand what cost price (c.p) and selling price (s.p) are. Cost Price (C.P): It is the price at which an item is bought at a particular period. Selling Price (S.P): The price at which an item is sold at a particular period Profit: When the selling price is greater than cost price the variance between them becomes the profit. Loss: If the price is more than selling price, the difference between them becomes the loss Profit Percentage: P%= {(profit/c.p) x 100}% Loss Percentage: L% = {(loss/c.p) x 100}% Example: 1. A bottle of cashew nut is sold at $50 and there has been a loss of 10 percent of the selling price. What is the cost of a bottle of cashew nut? Solution: Cost price - Loss = Selling Price Cost Price = Sellin...

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