Class 8 Exam > Class 8 Videos > Examples: Finding Profit and Loss Percent
Examples: Finding Profit and Loss Percent Video Lecture - Class 8
FAQs on Examples: Finding Profit and Loss Percent Video Lecture - Class 8
| 1. What is profit and loss percent? |  |
Ans. Profit and loss percent is a measure that indicates the percentage of profit or loss made on a particular transaction or business activity. It is calculated by dividing the profit or loss amount by the cost price and multiplying by 100.
| 2. How do you calculate profit percent? | |
Ans. Profit percent can be calculated by dividing the profit amount by the cost price and multiplying by 100. The formula is: (Profit / Cost Price) * 100.
| 3. How do you calculate loss percent? | |
Ans. Loss percent can be calculated by dividing the loss amount by the cost price and multiplying by 100. The formula is: (Loss / Cost Price) * 100.
| 4. Can profit and loss percent be negative? | |
Ans. Yes, profit and loss percent can be negative. A negative profit percent indicates a loss, while a negative loss percent indicates a profit. It is important to consider the context and sign conventions while interpreting negative profit and loss percent.
| 5. How is profit and loss percent useful in business? | |
Ans. Profit and loss percent is useful in business as it helps in evaluating the efficiency and profitability of a business activity or transaction. It provides insights into the financial performance and helps in making informed decisions regarding pricing, cost control, and overall business strategy.
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