Math Definitions - Letter P
Chapters
Profit
Definition of Profit
A profit is the money you make after all your expenses are paid.
For example, if Sam buys a bicycle for \(\$150\) and then sells it the next day for \(\$200\), then his profit is \(\$200 - \$150 = \$50\).
If Sam spends another \(\$25\) on fixing the same bicycle up before he sells it for \(\$200\), then his profit is \(\$200 - \$150 - \$25 = \$25\).
If you end up with income that is lower than your expenses, you make a loss.
For example, if Sam buys a bicycle for \($125\), spends \(\$30\) on repairing it, and then sells it for \($150\), he makes a loss of \(\$5\).
Description
The aim of this dictionary is to provide definitions to common mathematical terms. Students learn a new math skill every week at school, sometimes just before they start a new skill, if they want to look at what a specific term means, this is where this dictionary will become handy and a go-to guide for a student.
Audience
Year 1 to Year 12 students
Learning Objectives
Learn common math terms starting with letter P
Author: Subject Coach
Added on: 6th Feb 2018
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