If a text solution isn't clicking, check out Video Tutorials for Ex 13.1 to see the logic in action.
| Topic | Description | |-------|-------------| | & Selling Price (SP) | Basic definitions and formulas | | Profit & Loss % | Profit% = (Profit/CP)×100, Loss% = (Loss/CP)×100 | | Overhead Expenses | Adding extra costs to CP | | Discount | Marked Price (MP) – SP; Discount% = (Discount/MP)×100 | | Successive Discounts | Two or more discounts applied one after another | | Value Added Tax (VAT) | Tax on sale; VAT = Tax% × (SP – CP for VAT calculation) | | GST (in newer editions) | Some updates replace VAT with GST |