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PROFIT AND LOSS

Cost Price (C.P.) = Cost price of an article is the price at which the article is purchased.

Selling Price (S.P.) = Selling price of an article is the price at which the article is sold.

Profit or Gain = Selling Price – Cost Price – S.P. – C.P.

Marked Price (M. P.) or List Price or Catalogue Price

Marked price is the price that is marked or fixed on the product, by the manufacturers.

These products are sold to the wholesale dealers reducing these prices by some percentage. This reduction in the price is called 'Trade discount'.

Selling Price = Marked Price – discount

                  = M. P. – d (where d is the discount)

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COMPOUND INTEREST

Important Facts and Formulae:

Compound Interest:

Sometimes it so happens that the borrower and the lender gree to fix up a certain unit of time ,say yearly or half-yearly or quarterly to settle the previous account.In such cases ,the amount after the first unit of time becomes the principal for the 2nd unit ,the amount after

second unit becomes the principal for the 3rd unit and soon. After a specified period ,the difference between the amount and the money borrowed is called Compound Interest

for that period.

Formulae:

Let principal=p,Rate=R% per annum Time=nyears

1.When interest is compounded Annually,Amount=P[1+(R/100)]n

2.When interest is compounded Halfyearly,Amount=P[1+((R/2)100)]2n

3.When interest is compounded Quaterly, Amount=P[1+((R/4)100)]4n

4.When interest is compounded Annually,but time in fractionssay 3 2/5 yrs Amount=P[1+(R/100)]3[1+((2R/5)/100)]

5.When rates are different for different years R1%,R2%,R3%for 1st ,2nd ,3rd yrs respectivelyAmount=P[1+(R1/100)][1+(R2/100)][1+(R3/100)]

6.Present Worth of Rs.X due n years hence is given by Present Worth=X/[1+(R/100)]n

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