What is the definition of profit in a business context?

Profit is the financial gain obtained when the revenue generated from business activities exceeds the costs and expenses associated with producing and selling goods or services. It is calculated as: Profit = Revenue - Costs.

How do you calculate the profit percentage?

The profit percentage is calculated by dividing the profit by the cost price (CP) and then multiplying by 100. The formula is: Profit Percentage = (Profit / Cost Price) * 100.

If a shirt costs $30 and is sold for $45, what is the profit and profit percentage?

The profit is calculated as: Profit = Selling Price (SP) - Cost Price (CP) = $45 - $30 = $15. The profit percentage is then: Profit Percentage = (15 / 30) * 100 = 50%.

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, all fixed and variable costs have been covered, and the profit is zero.

A product is bought for $150 and sold for $180. Calculate the profit and profit percentage.

Profit = Selling Price (SP) - Cost Price (CP) = $180 - $150 = $30. Profit Percentage = (30 / 150) * 100 = 20%.

If a business incurs a loss of 20% on a product sold for $80, what was the cost price?

Let the cost price be CP. A loss of 20% means Selling Price = CP - 0.2 * CP = 0.8 * CP. Thus, 0.8 * CP = $80, therefore CP = $80 / 0.8 = $100.

Calculate the selling price if the cost price is $200 and the desired profit percentage is 25%.

Selling Price (SP) = Cost Price (CP) + Profit. Profit = (25 / 100) * 200 = $50. Therefore, SP = 200 + 50 = $250.

If an item is sold for $50 with a profit of 25%, what was the cost price?

Let the cost price be CP. Profit of 25% means Selling Price = CP + 0.25 * CP = 1.25 * CP. Thus, 1.25 * CP = $50, therefore CP = $50 / 1.25 = $40.

If a person sells a television for $800 and incurs a loss of 20%, what was the cost price?

Let the cost price be CP. A loss of 20% means Selling Price = CP - 0.2 * CP = 0.8 * CP. Thus, 0.8 * CP = $800, therefore CP = $800 / 0.8 = $1000.