loss+selling price (S.P)
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If the VAT rate is V% then the cost price with VAT is = Cost Price*(1 + v/100)
Formula:Profit = Selling Price (SP) - Cost Price (CP)Loss = Cost Price (CP) - Selling Price (SP)
Profit = retail price - manufacturing cost
Cost = Selling Price - Gross Profit By using this formula or method easily we can get the selling price of the product
The correct formula when markup is based on the selling price is selling price is equal to the markup plus the cost. This enables traders make profits.