Buying and selling prices
Buying is the gaining of an object in exchange for money, whereas selling is acquiring money in exchange of abandoning all claims ofownership from an object. Buying and selling are two terms that areoften used relatively whenever we are talking about buying and selling.Buying and selling are two sides of a coin. When one sells something,someone else buys it.
Buying is defined as acquiring the possession of, the right to, by payingor promising to pay its equivalence, especially in money.
The cost price is essentially the final price at which the seller buys the product or service. They then include a certain percentage of profit to it. The marked price or list price is the price that a seller establishes after including the necessary percentage of profit.
● CP stands for cost price
● SP stands for selling price
● CP= selling price - profit=SP-Pr
● Cost price = selling price - profit,
Selling is defined as a transfer of goods or services in exchange for money.
Selling price is actually the price that a buyer pays in order to obtain a
product or service. Selling price is usually higher than the cost price
or alternatively, it is the cost price plus profit. Setting a selling price is
a very sensitive matter as the sales of a product are based on it.
The basic formula to find the selling price is:
Selling price = Cost price + Profit
Calculating selling price, cost price and profit.
A cycle was bought for $ 1235 and sold at a gain of $ 100. Find the selling price of the cycle.
CP = $1235, Profit = $ 100, SP =?
SP = $ 1235 + $ 100 = $ 1335.
