# Profit and Loss

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• Bill walks past a little newspaper ﻿shop and is confused when he sees that the newspaper's selling price is \$5.40 when he just saw it at a supermarket for \$3.00. He asks the owner if this store why this is the case.
• ﻿Excuse me sir, my name is bill. Can you explain why the newspapers here are more expensive then the newspapers at the supermarket.
• Well, that's because us retailers need to make a profit. Which ﻿is where the selling price is greater then the cost price.
• Isn't a selling price and cost price the same thing?﻿
• ﻿No they are completely different. The cost price is how much retailers pay to get goods and selling price is how much retailers sell them to you for.
• ﻿OH! But what if the selling price isn't greater then the cost price.
• ﻿Then that my friend is a loss. Here, if I as a retailer bought this for \$4.50, how would I make a 20% profit.
• Well, first you would have to find 20% of the original amount so you would multiply 4.50 by 20 over 100 which equals 0.90.  Know add 0.90 to the original amount.
• ﻿I don't know
• ﻿Exactly.
• ﻿Now everything makes sense.
• Which is 5.40
• ﻿Your welcome. Do you want a newspaper?
• Sure.﻿
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