Question

A company that prints Blue Books for exams makes a profit according to the number of books sold. Suppose that the Profit is

Answer 1

The answer is not complete. I will explain the concept of profit to you.

Explanation:

We can determine profit deducting direct costs (cost price) of commodities from sales (selling prices) of the commodities.

Profit = Selling Price - Cost Price

Example:

A trader buys some dresses for #2,500 in May and agrees to pay for it in three months’ time. He sells off all the dresses in August for #4,500. The profit for the month is #2,000.

The formula for percentage profit is
`(profit * 100)/(cost price)`

The formula for gross profit is Revenue – Cost of Sold Items

Profit Margin =
`(Total Income)/(Net Sales)` * 100

While Gross Profit Margin can be calculated as
`(Gross Profit)/(Net Sales)` * 100

Any of these formulas can be used to calculate profit-related questions.