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17 Sep 2006, 07:11
Kudos
Bookmarks
Hi Folks,
Can you please provide the definition of profit? It sounds simple, but I saw a definition and an example that got me confused. Here it is:
---
Profit made on an item is the seller's price minus the costs to the seller. If a seller buys an item for $10 and sells it for $15, then the seller has made a profit of $5.
The percent of the selling price that is profit is:
(Profit/Original Selling Price) * 100% = $5/$15 * (100%)
= (100/3)% = 33 1/3 %
---
Do any of you see a flaw in the above?
Appreciate your replies.
- RockyHill
Can you please provide the definition of profit? It sounds simple, but I saw a definition and an example that got me confused. Here it is:
---
Profit made on an item is the seller's price minus the costs to the seller. If a seller buys an item for $10 and sells it for $15, then the seller has made a profit of $5.
The percent of the selling price that is profit is:
(Profit/Original Selling Price) * 100% = $5/$15 * (100%)
= (100/3)% = 33 1/3 %
---
Do any of you see a flaw in the above?
Appreciate your replies.
- RockyHill
Archived Topic
Hi there,
This topic has been closed and archived due to inactivity or violation of community quality standards. No more replies are possible here.
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rockyHill
Hey Rocky Hill, let me explain u the concept here clearly.
Generally profit percent is always calculated on Cost Price.
For example let's consider this question.
A man purchased an article at 30$ and sold it for 35$. Find his profit percentage.
Sol: Cost Price = 30 and Selling Price = 35
So the profit percentage is 5/30 x 100 = 16/66%
So if he just asks to calculate profit percent please always calculate on Cost Price only.
Coming to ur question he clearly mentioned profit as a percentage of Selling Price. So always calculate profit percent on Cost Price unless he asks us to calculate profit % in terms of Selling Price.
I hope this is clear
Regards,
17 Sep 2006, 22:52
Kudos
Bookmarks
Is the "profit margin" the same as the profit percentage here? based on the cost rather than the total revenue?
but according to here:
https://en.wikipedia.org/wiki/Profit_margin
profit margin is based on the total revenue, not the cost. If i remember correctly what I've learnt somewhere in CFA, it is based on total revenue too.
anyone? :!:
but according to here:
https://en.wikipedia.org/wiki/Profit_margin
profit margin is based on the total revenue, not the cost. If i remember correctly what I've learnt somewhere in CFA, it is based on total revenue too.
anyone? :!:
Archived Topic
Hi there,
This topic has been closed and archived due to inactivity or violation of community quality standards. No more replies are possible here.
Where to now? Join ongoing discussions on thousands of quality questions in our Quantitative Questions Forum
Still interested in this question? Check out the "Best Topics" block above for a better discussion on this exact question, as well as several more related questions.
Thank you for understanding, and happy exploring!
