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If an article is sold at 200% profit then the ratio of its cost price to its selling price will be
Let’s denote:
CP = Cost Price
SP = Selling Price
Given that the selling price is 200% of the cost price, we can express this mathematically as:
SP = CP + 200% × CP
Converting the percentage to its decimal form (200% = 2), we get:
SP = CP + 2 × CP SP = 3 × CP
Now, to find the ratio of the cost price to the selling price: Cost Price :
Selling Price = CP : SP
Cost Price : Selling Price = CP : 3 × CP
Dividing both sides by CP, we get:
Cost Price : Selling Price = 1 : 3
So, the ratio of the cost price to the selling price is 1 : 3.
Cost Price and Selling Price
Cost price (CP) refers to the price at which a product or service is purchased or manufactured. It includes the cost of production, transportation, and any other expenses incurred in acquiring the item.
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Selling price (SP), on the other hand, is the price at which the product or service is sold to customers. It is the amount for which the seller offers the item to the buyer.
The relationship between the cost price (CP) and selling price (SP) is crucial for determining profit or loss. If the selling price is higher than the cost price, a profit is made. Conversely, if the selling price is lower than the cost price, a loss is incurred.
The formula to calculate profit (P) or loss (L) is:
Profit = SP – CP
Loss = CP – SP
In terms of percentage:
Profit Percentage = (P / CP) * 100%
Loss Percentage = (L / CP) * 100%
These formulas are fundamental in business and finance for evaluating the performance of sales transactions and determining profitability.
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Source: Math Hello Kitty
Categories: Math
