Profit and Losses

Front

What is profit?

Back

Profit is the financial gain obtained when the revenue from sales exceeds the costs associated with producing and selling goods or services.

Front

What is loss?

Back

Loss occurs when the costs of producing and selling goods or services exceed the revenue generated from sales.

Front

How do you calculate percentage loss?

Back

Percentage loss is calculated using the formula: (Loss / Cost Price) x 100.

Front

How do you calculate profit?

Back

Profit is calculated using the formula: Profit = Selling Price - Cost Price.

Front

What is the formula for calculating total cost including tax?

Back

Total Cost = Price + (Price x Tax Rate).

Front

If an item is bought for $2500 and sold for $1000, what is the loss?

Back

Loss = Cost Price - Selling Price = $2500 - $1000 = $1500.

Front

If a product costs $124 to produce and is sold for $21 each, how do you find the profit for selling multiple items?

Back

Profit = (Selling Price per item x Number of items) - Total Cost.

Front

What is the selling price if the cost price is $32000 and the profit is $13000?

Back

Selling Price = Cost Price + Profit = $32000 + $13000 = $45000.

Front

What is the formula for calculating total profit from multiple sales?

Back

Total Profit = (Selling Price x Quantity Sold) - Total Cost.

Front

If a boy sells a bike for $45000 that he bought for $32000, what is his profit percentage?

Back

Profit Percentage = (Profit / Cost Price) x 100 = (($45000 - $32000) / $32000) x 100 = 40.625%.