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What is the formula to calculate profit?
  • a)
    Profit = Selling Price - Cost Price
  • b)
    Profit = Cost Price - Selling Price
  • c)
    Profit = Cost Price / Selling Price
  • d)
    Profit = Selling Price + Cost Price
Correct answer is option 'A'. Can you explain this answer?
Most Upvoted Answer
What is the formula to calculate profit?a) Profit = Selling Price - Co...
Profit is determined when the selling price exceeds the cost price. Thus, the correct formula is Profit = Selling Price - Cost Price. This calculation helps businesses understand their financial gains from transactions.
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