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PROFIT AND LOSS

PROFIT AND LOSS

Cost Price:- The amount paid to purchase an article or the price at which an article is made is known as its cost price.

Selling Price:- The Price at which an article is sold is known as its selling price.

Profit: – If the selling Price (S.P) of an article is greater than the cost price (C.P), the difference between the selling price and cost price is called profit.

If S.P > C.P, then
Profit = S.P – C.P

Loss : – If the selling price (S.P) of an article between the cost price (C.P) and the selling price (S.P) is called loss.

If C.P > S.P, then
Loss = C.P – S.P

Sell / sold/ Selling means S.P.
Buy/Cost/Purchase means C.P.

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