Best Answer

Profit:If the selling price(S.P.)of an article is greater than the cost price(C.P.), the difference between the selling price and cost price is called a profit.

loss:If the selling price (S.P.) of an article is less than the cost price(C.P.),the difference between the cost price and selling price is called loss.

Study guides

Q: What is the definition of profit and loss in mathematics?

Write your answer...

Submit

Still have questions?

Continue Learning about Math & Arithmetic

Go find out your self!

The mathematics of investment deals with the investment of money, such as bonds, paper bills, etc.

It is a branch of mathematics related to profit and loss, simple and compound interest, discount percent, etc i.e. related to business operations mainly used in commerce and everyday life. Topics like elementary arithmetic (fractions, percentages, decimals), elementary algebra, statistics and probability, mortgages, simple and compound interest are included in it.

In mathematics, if the data in a set shows no relation, then that set shows no trend.

data is a set of words like a phrase

Related questions

Profit and Loss formulas. Profit and loss is the branch of basic mathematics which deals with the study of profit and loss made in a business transaction.

The business definition of the profit loss statement is a financial statement that explains your costs, expenses and revenues in a specific time period.

Formula:Profit = Selling Price (SP) - Cost Price (CP)Loss = Cost Price (CP) - Selling Price (SP)

Profit or loss = income - expenses. A positive number is profit, a negative number is loss.

Tradition, and the need to call it something.

Profit and Loss.

Scheduling, calculations for payroll and accounting, inventory, profit and loss calculations, etc..

what are the advantages of profit and loss statement?

"What are the limitations of profit and loss account?"

Profit and loss is nothing but an statements which shows the net profit and net loss during a period.

A restaurant profit and loss report should include the costs of daily business, like staffing and foodstuffs. The breakdown of the report should list the costs before the markups for customers.

The incremental profit or loss is the change in profit or loss over the designated time period. After calculating the profit or loss, for example on a monthly basis, the delta between that and the average monthly profit or loss from the prior year can be determined.

People also asked