0Cost Price or CP- When someone purchases an article. It is also know as List Price. Eg. If I purchase 1 pen of 10-/rs. 10 rs is CP
Selling Price or SP - When someone sells an article. Eg. If I sell a pen of 15 -/rs. 15 rs is SP
Market Price or MP - When someone changes the cost price of an article to sell. Eg. If I purchase 1 pen of 10-/rs. Change its price to 15rs. Then the MP is 15 rs
Loss - when cost price is greater than selling price.Eg. If I purchase 1 pen of 10-/rs. Sell it of Rs 5. I get loss of Rs 5.
Profit - when selling price is grater than cost price.Eg. If I purchase 1 pen of 10-/rs. Sell it of Rs 15. I get profit of Rs 5.
Discount - The amount of price of an aricte which is reduced on Market price to sell.Eg. If I purchase 1 pen of 10-/rs. Change it Price to Rs 20. But Sell it to Rs 15. I gave discount of Rs 5.
