Profit and Loss

What is selling price?

• Price at which we buy the things.

• Price at which we sell the things.

If Selling price > Cost price, it will be

• Profit

• Loss

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If CP > SP, then profit is made from this transaction.

• True

• False

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How we calculate profit?

• Profit = SP - CP

• Profit = CP- SP

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How we calculate Loss ?

• Loss = SP -CP

• Loss = CP -SP

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If you want to sell the watch on profit, then____

• Selling price of watch is greater than its Cost price.

• Cost price of watch is greater than its Selling price .

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What is the percentage profit if Tony buys a watch for $50 and sells it for $60?

• 20%

• 83.3%

• 16.6%

• 16.7%

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If James sells his car for $1,000 and bought it for $2500. What is the percentage loss made on the car.

• 15%
• 10%
• 60%
• 150%

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What is the formula to find out Loss?

• S.P - C.P

• M.P - S.P

• C.P - S.P

• All of above

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What is the formula to find out Profit?

• C.P - S.P

• S.P - C.P

• M.P - Discount

• S.P + VAT

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