Profit and Loss Account for Science Students
Profit and Loss Account for Science Students
This SaralStudy commerce page helps students revise Profit and Loss Account for Science Students. It is useful for school revision, accountancy practice, business studies preparation, economics concepts, and commerce vocabulary building.
How to study this commerce topic
- Read the definition and purpose first.
- Write formulas, formats, or key terms separately.
- Practise one solved example and one unsolved question.
- Connect the topic with real business, banking, accounting, or economics examples.
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Editorial Note
This page is a learning support resource for commerce students and should be used with textbooks, school notes, and official syllabus guidance.
Profit and Loss Account for Science Students: Explanation, Formulae and Practice
These topics connect maths with money decisions. Always identify cost price, selling price, principal, rate and time before using a formula.
Practical Formulae
- Profit = selling price - cost price.
- Loss = cost price - selling price.
- Profit percentage = (profit / cost price) x 100.
- Simple interest = (principal x rate x time) / 100.
- Amount = principal + interest.
Solved Example
Question: An item is bought for Rs. 500 and sold for Rs. 575. Find the profit percentage.
Working: Profit = 575 - 500 = 75. Profit percentage = (75 / 500) x 100.
Result: Profit percentage = 15%.
Unanswered Practice Questions
Try these yourself before checking notes or calculators.
- Find the loss percentage when CP is Rs. 800 and SP is Rs. 720.
- Find simple interest on Rs. 5,000 at 8% per year for 2 years.
- A shopkeeper marks an item at Rs. 1,200 and gives 10% discount. Find the selling price.
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