How to calculate profit if selling price is greater than cost price?

Profit can be calculated when the selling price is greater than the cost price. Hence, the formula to find the profit is: Profit = Selling Price (S.P.) - Cost Price (C.P.) Where, The Cost Price of the product is the cost at which it was originally bought. The Selling Price of the product is the cost at which it was sold.

What are the formulas related to gross profit?

Gross profit is the profit that is obtained after deducting the cost of goods sold from its total revenue. The formulas that are related to gross profit are: Net profit is obtained by subtracting the sum of total costs and indirect costs from total revenue. The formulas related to net profit are:

What is the difference between profit and total profit?

Profit is the difference between the price and cost when talking about one item. When dealing with higher volumes of items, total profit is the difference between revenue and total cost. Generally speaking, profit is the incentive behind the majority of business transactions.