PROFIT AND LOSS
PROFIT: means something you earn or get.
LOSS: mean something you have lost.
There
are different type of price if you understand the real scenario of pricing.
1.
COST PRICE(CP):
The price at which anything can buy.
2.
SELLING PRICE(SP):
The price at which anything can sell.
3.
MARKED PRICE(MP):
The price which are mention on thing. .i.e
if you buy Levi Jeans, there is tag in which Marked price is mention i.e. 2199
Rs.
Shopkeeper
always gives Discount on marked price. In that case marked price always
will at 100 % and Selling price is after
discount. Other name for MP are Label Price and Listed Price.
UNDERSTAND TERM CP,SP MP
Suppose shopkeeper buy some product from factory with cost 5000,then this
cost is termed as COST PRICE for shopkeeper . obviously shopkeeper
will sell this product to customer therefore he will add some
money(profit) to COST PRICE and label that product with new price ,this new
price is termed as MARKED PRICE. But to showing purpose or Make more sell or
attract purpose the shopkeeper provide some discount on MARKED PRICE.
NOTE: Profit and loss always incurred
at COST PRICE.
PROFIT= SELLING PRICE – COST PRICE
(SP > CP)
LOSS= COST PRICE – SELLING PRICE (CP > SP)
QUESTION
QUESTION
1: A SHOPKEEPER SOLD APPLE AT 150
AND PURCHASE AT 70 .THEN FIND ITS PROFIT/LOSS.
Solution: Here Selling
Price(SP)=150
AND Cost Price(CP)=70
Therefore Profit=SP-CP=150-70=80
profit %=
Profit/CP *100
=80/70*100
=114%
QUESTION
2: IF MARKED PRICE OF AN ARTICLE IS 30%
MORE THAN THEIR COST PRICE AND
SHOPKEEPER ALLOWS A DISCOUNT OF 20%.THEN FIND ITS PROFIT %.
Solution.
Lets us suppose cost price(CP) is 100 then
marked price(MP) is 130 ,now shopkeeper allows 20% discount on MP, that
discounted price is known as selling price(SP)
Thus SP=MP-DISCOUNT=130-130*20/100
=130-26
=104
NOW PROFIT
%=PROFIT/CP*100 [PROFIT=SELLING
PRICE- COST PRICE ]
=4/100*100
=4%
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