Profit and Loss Concept, Formula

Hello friends, in this post we will discuss about profit and loss. Profit is when we earn some money after transaction of amount in business and Loss is when we loss some money after transaction in business. There are two types of prices in business one at which we purchase the product known as Cost Price and second at which we sell the product known as Selling Price.

If CP is higher than SP then we earn some money in transaction known as profit and If SP is higher than CP then we loose some money in transaction known as loss. 

All the above concept and formula are summarized in the following image as at which we purchase the product and second post is completely for beginners so I tried to explain each and everything in words too

In next post we will discuss some tips and tricks to save time in examination to score good marks. To know about the latest post please follow my blog. 

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