Profit and Loss are the two terms that are involved in buying and selling of any product respectively. Anyone can determine the profit and loss, when you buy or sell any product using some simple steps. The mathematical formula to calculate profit and loss is: Selling Price - Cost Price. Selling price is the rate at which you sell any product. Similarly, the cost price is the rate at which you buy any product.
Teachers can share this amazing profit and loss with rate math problems with your students to understand more about the concepts of profit and loss.