Tag: cost

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What are advantages and disadvantages of Simple Interest and Compound Interest with examples

Advantages and Disadvantages of Simple Interest and Compound Interest Both simple interest and compound interest have their unique advantages and disadvantages. Below is a detailed explanation, including examples. Simple Interest Advantages: Easy to Calculate and Understand: Simple interest is straightforward to calculate using the formula: Simple Interest=(P×R×T)/100 where P is the principal amount, R is the […]

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Profit and Loss – Basic Problems with Solutions

Basic Problems with Solutions – Profit and Loss Let’s go through some basic profit and loss problems with detailed solutions. We’ll break it down with definitions, formulas, and examples. Definitions: Profit: When the selling price of an item is higher than its cost price.Formula: Profit = Selling Price − Cost Price Loss: When the selling price of […]

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Basic Word Problems With Solutions on Percentage

Basic Word Problems on Percentage. Percentage of a Quantity: Converting a percentage to a decimal and multiplying by the total. Finding the Total from a Percentage: Setting up and solving an equation to find the total when given the percentage and part. Percentage Increase: Calculating the difference, dividing by the original, and converting to a […]

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Profit and Loss – Formulas Problems – Solutions

       Problems – Solutions – Profit and Loss – Formulas Important Facts The cost price is the price at which a product orservice is purchased by seller. The selling price is the price at which a product or service is sold to the buyer. When the selling price (SP) is greater than cost price(CP) […]

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