Normally I also use @promise444c5 way to calculate mine. But I think sir @Charles-Tim method also nice and fast too. Actually @promise444c5 way is the normal or should I say common way use in calculating profit or loss in business. Let me just emphasize on it Using the formulars:
Firstly SP = selling price, CP = cost price.
To calculate for profits,
Profit = SP - CP ( indicating that the selling price was higher or greater than the cost price ( your buying price))
While to calculate loss
Loss= CP - SP (While this formular shows that your cost price was higher or greater than your selling price) you made losses.
Formula for profit% and loss%
profit percentage (profit%) = Profit/Cost price × 100
While loss percentage is .
Loss percentage (loss%) = Loss/Cost price × 100 , is just almos like profit% the only changes is that where you see profit just replace it with Loss (when solving for loss%)
Just decided to give some clarity concerning this topic posted. Hope this would be helpful to anyone it may concern please do so to correct me if there's any errors.
If not for today I don’t know how to calculate,but leaning is every day thou but using this principle I was able to try it in my private time and got it correct.appreciate your information.Firstly SP = selling price, CP = cost price.
To calculate for profits,
Profit = SP - CP ( indicating that the selling price was higher or greater than the cost price ( your buying price))
While to calculate loss
Loss= CP - SP (While this formular shows that your cost price was higher or greater than your selling price) you made losses.
Formula for profit% and loss%
profit percentage (profit%) = Profit/Cost price × 100
While loss percentage is .
Loss percentage (loss%) = Loss/Cost price × 100 , is just almos like profit% the only changes is that where you see profit just replace it with Loss (when solving for loss%)
Just decided to give some clarity concerning this topic posted. Hope this would be helpful to anyone it may concern please do so to correct me if there's any errors.
