The formula for Profit is S.P. – C.P. If the selling price is lesser than the cost price, whatever difference you get between the two is the loss suffered. Similarly, Loss is C.P. – S.P. Always remember that you calculate profit or loss on the cost price.
The formula for Profit is S.P. – C.P.
If the selling price is lesser than the cost price, whatever difference you get between the two is the loss suffered.
Similarly, Loss is C.P. – S.P.
Always remember that you calculate profit or loss on the cost price.
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