What is the definition of cost price (CP)?

Cost price (CP) is the amount paid to acquire a product or service. It includes all expenses incurred in bringing the product to market, including purchase price, shipping, and handling.

What is the formula for calculating profit?

Profit is calculated using the formula: Profit = Selling Price (SP) - Cost Price (CP). For example, if SP = 150 and CP = 100, then Profit = 150 - 100 = 50.

How do you find the loss percentage?

Loss percentage is calculated using the formula: Loss Percentage = (Loss / Cost Price) * 100. If a product with a CP of 200 is sold for 150, Loss = CP - SP = 200 - 150 = 50, so Loss Percentage = (50 / 200) * 100 = 25%.

If a person sells a watch for $240 and incurs a loss of 20%, what is the cost price of the watch?

If the selling price is $240 and this represents 80% of the cost price (since a 20% loss means the selling price is 80% of the cost), then Cost Price = Selling Price / (1 - Loss Percentage) = 240 / 0.80 = 300.

Calculate the selling price if an item is bought for $300 and a profit of 15% is desired.

Selling Price is calculated as: SP = CP + Profit. First, calculate Profit = 15% of 300 = 0.15 * 300 = 45. So, SP = 300 + 45 = 345.

What is the definition of profit and how is it calculated?

Profit is the financial gain achieved when the revenue from sales exceeds the total costs incurred in producing and selling a product or service. It is calculated using the formula: Profit = Revenue - Total Costs.

How do you determine the loss percentage?

Loss percentage is calculated by dividing the loss by the cost price and multiplying by 100. The formula is: Loss Percentage = (Loss / Cost Price) * 100.

If an item is purchased for $150 and sold for $100, what is the loss and the loss percentage?

The loss is calculated as Cost Price - Selling Price = $150 - $100 = $50. The loss percentage is (Loss / Cost Price) * 100 = ($50 / $150) * 100 = 33.33%.

A book is sold for $18 after a discount of 10%. What was the original price of the book?

Let the original price be x. The selling price after a 10% discount is x - 0.10x = 0.90x. Setting this equal to $18, we have: 0.90x = 18. Thus, x = $20.

If a seller experiences a profit of 25% on an item sold for $240, what was the cost price?

The selling price represents 125% of the cost price (since profit is 25%). Using the formula: Cost Price = Selling Price / (1 + Profit Percentage) = $240 / 1.25 = $192.

If a retailer buys a product for $400 and wants to achieve a profit of 30%, what should be the selling price?

First calculate the profit: Profit = 30% of Cost Price = 0.30 * $400 = $120. The selling price is then: Selling Price = Cost Price + Profit = $400 + $120 = $520.

A store offers a discount of 15% on a pair of shoes originally priced at $80. What is the selling price after the discount?

The discount is calculated as 15% of $80, which is $12. Thus, the selling price after the discount is: Selling Price = Original Price - Discount = $80 - $12 = $68.

What is the break-even point in terms of profit and loss?

The break-even point is the point at which total revenue equals total costs, resulting in neither profit nor loss. At this point, Profit = 0.

If a company sells a product for $500 and incurs a 20% loss, what is the cost price of the product?

If the selling price is $500 and this represents 80% of the cost price (since a 20% loss means the selling price is 80% of the cost), then the Cost Price = Selling Price / (1 - Loss Percentage) = $500 / 0.80 = $625.

Calculate the profit percentage if a product is bought for $300 and sold for $450.

Profit = Selling Price - Cost Price = $450 - $300 = $150. The profit percentage is calculated as (Profit / Cost Price) * 100 = ($150 / $300) * 100 = 50%.