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Profit or Loss is always calculated on the cost price.

Cost price (C.P.): price on which an item is purchased.

Selling price (S.P.): price on which an item is sold.

- Profit: If the selling price is more than the cost price, the difference between them is the profit incurred. Selling Price (SP) > Cost Price (CP) → Profit

- Loss: If the selling price is less than the cost price, the difference between them is the loss incurred. Selling Price (SP) < Cost Price (CP) → Loss

Q: What is profit and loss in mathematics?

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Formula:Profit = Selling Price (SP) - Cost Price (CP)Loss = Cost Price (CP) - Selling Price (SP)

Scheduling, calculations for payroll and accounting, inventory, profit and loss calculations, etc..

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 a profit. loss:If the selling price (S.P.) of an article is less than the cost price(C.P.),the difference between the cost price and selling price is called loss.

The answer depends on percentage of WHAT!

It is a branch of mathematics related to profit and loss, simple and compound interest, discount percent, etc i.e. related to business operations mainly used in commerce and everyday life. Topics like elementary arithmetic (fractions, percentages, decimals), elementary algebra, statistics and probability, mortgages, simple and compound interest are included in it.

Related questions

Profit and Loss formulas. Profit and loss is the branch of basic mathematics which deals with the study of profit and loss made in a business transaction.

Formula:Profit = Selling Price (SP) - Cost Price (CP)Loss = Cost Price (CP) - Selling Price (SP)

Scheduling, calculations for payroll and accounting, inventory, profit and loss calculations, etc..

Profit or loss = income - expenses. A positive number is profit, a negative number is loss.

Tradition, and the need to call it something.

Profit and Loss.

The incremental profit or loss is the change in profit or loss over the designated time period. After calculating the profit or loss, for example on a monthly basis, the delta between that and the average monthly profit or loss from the prior year can be determined.

Profit and loss accont is used to calculate the profit or loss of business while profit and loss appropriation account is used to allocate or distribute net income or loss to share holders or different reserves account.

what are the advantages of profit and loss statement?

"What are the limitations of profit and loss account?"

: Profit and loss account gives the actual information about net profit or net loss of the business for an accounting period, Profit and loss account gives the actual information about indirect expenses, Profit and loss account serves to show the ratio between net profit to sales, Profit and loss account helps in showing the ratio between net profit to operating expenses, Profit and loss account helps in controlling indirect expenses

profit