Profit & Loss

Profit & Loss, कुछ definitions जानते है।

CHAPTER 1

Profit & Loss

Cost Price- The price at which a person buys a product is called the cost price .
Denoted By- CP

Selling Price- The price at which a person sells a product is called the selling price.
Denoted By- SP

PROFIT- If SP is greater than CP, then seller is said to have profit .

Profit=(Selling Price – Cost Price)

Profit=(SP-CP)

Loss- If SP is less than CP, then seller is said to have a loss.

Loss=(Cost Price – Selling Price )

Loss=(CP-SP)

In case of profit the following formulae are applicable:

profit = SP-CP

PROFIT PERCENTAGE=

    \[\frac{{PROFIT}}{{CP}}X100\]

(Profit percentage is always calculated on CP unless specified.)

In case of loss the following formulae are applicable:

loss = CP-SP

LOSS PERCENTAGE=

    \[\frac{{loss}}{{CP}}X100\]

(loss percentage is also calculated on CP unless specified.)

* The selling price of the seller is the cost price of the buyer.

* Profit and Loss are always counted on CP (Cost Price).

* CP is always 100% in the case of profit and loss.

Market price-

In a sale transaction, the seller marks the goods more than the cost price in order to earn a profit. This addition to the cost price is called the mark up price and this mark up value added to cost price is called the marked price.

Marked price = CP + selling Price

*Discount always carried on MRP (MP)

*MRP is always 100% in the case of discount.

Some formulae

PROFIT PERCENTAGE=

    \[\frac{{PROFIT}}{{CP}}X100\]

LOSS PERCENTAGE=

    \[\frac{{LOSS}}{{CP}}X100\]

SHORT METHOD FOR PROFIT & LOSS PERCENTAGE

PROFIT PERCENTAGE=

    \[\frac{{DIFFERENCE in BOTH}}{{LESS}}X100\]

LOSS PERCENTAGE=

    \[\frac{{DIFFERENCE in BOTH}}{{MORE}}X100\]

Example 1- If the cost price of 19 article is equal to the selling price of 16 article find the profit percentage ?

Sol- PROFIT PERCENTAGE=

    \[\frac{{DIFFERENCE in BOTH}}{{LESS}}X100\]

profit%=

    \[\frac{{19-16}}{{16}}X100\]

=

    \[\frac{{75}}{{4}}\]

=

    \[18\frac{3}{4}\% \]

Example 2- If the selling price of the 50 article is equal to the 40 article cost price then find the loss percentage ?

sol- LOSS PERCENTAGE=

    \[\frac{{DIFFERENCE in BOTH}}{{MORE}}X100\]

loss%=

    \[\frac{{10}}{{50}}X100\]

=20%.

जिसे हम next chapter में profit & loss के questions में use करेंगे ।

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