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Profit and Loss
The term Profit and Loss is used in business. In business transaction goods are purchased and sold. The price used to purchase is called “Cost Price” and written as CP. The price obtained by selling goods is called “Selling Price” and it is written as SP. If selling price of certain goods is more than the cost price, then there is a profit. If cost price of certain goods is more than its selling price, then there is a loss.
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