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Business Mathematics by Chirag Trivedi, Kashyap Trivedi

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6

Profit-Loss, Discount, Commission and Brokerage

LEARNING OBJECTIVES

Systematic study of this chapter will help the student to understand:

  • Basic terminology of profit and loss

  • Meaning of discount and its different types

  • Concepts of commission, brokerage and bonus and to calculate all these under practical situations

INTRODUCTION

In today's business world the aim of every businessman is not only to earn profit but also to enhance their profit. The purchase and sale of items is a common practice for the producer, or for the seller of the item Hence the knowledge of profit—loss, discount, commission and brokerage is very essential.

PROFIT AND LOSS

The price at which an item is purchased or the cost of production of an item is called as

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