What is the diffence between Price and Cost?

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Mathswiz (Expert maths teacher)

Price is the amount a customer pays to purchase a product. Cost is the amount of money spent in producing the product. The difference between Price and Cost, if positive, gives a PROFIT and if negative, creates a LOSS.
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Price is what a customer pay for a service or product while cost is price minus profit.
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price is for customer and cost is for producer or seller
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Result oriented teacher

Cost is the expense that a business incurs in bringing a product or service to market. Price is the amount a customer pays for that product or service. The difference between the price that is paid and the cost that is incurred is the profit the business makes when the item sells.
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Price is what a buyer pays for a buying a product or service. The buyer can be end customer or an intermediary, like retailer, wholesaler or distributor buying it to sell further. Cost is the expenditure, directly or indirectly incurred by the seller of a product or service. The seller can be the...
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Price is what a buyer pays for a buying a product or service. The buyer can be end customer or an intermediary, like retailer, wholesaler or distributor buying it to sell further. Cost is the expenditure, directly or indirectly incurred by the seller of a product or service. The seller can be the manufacturer, service provider or an intermediary in sales process. read less
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Cost is the expense that a business incurs in bringing a product or service to market. Price is the amount a customer pays for that product or service
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Price is the amount which customer pays to purchase a product and cost is the amount of money spent of producing the product
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Hindi tutor

Price is the original value of the product at which it is manufactured. Cost is the value at which the product is sold and cost includes all other costs as labour etc.
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Price = Cost + Profit. Price is what a customer is willing to pay for purchase of the product. Cost means the Total cost for making the products. Price include Profit but cost dosen't include Profit.
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Price includes taxes and incurred value to produce the product but cost is the amount to manufacture it.
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Related Questions

A, B and C jointly thought of engaging themselves in a business venture. It was agreed that A would invest Rs. 6500 for 6 months, B, Rs. 8400 for 5 months and C, Rs. 10,000 for 3 months. A wants to be the working member for which, he was to receive 5% of the profits. The profit earned was Rs. 7400. Calculate the share of B in the profit. A. Rs. 1900 B. Rs. 2660 C. Rs. 2800 D. Rs. 2840
Option B. Rs 2660/- A received = 5% of Rs. 7400 = Rs. 370. Balance = Rs. (7400 - 370) = Rs. 7030. Ratio of their investments = (6500 x 6) : (8400 x 5) : (10000 x 3) = 13 : 14 : 10 B's share = Rs.7030 x14/37 = Rs. 2660.
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