Gross profit:-It is the total profit without deducting any tax or expenses.
Net Profit:-It is the profit after deducting the taxes and expenses.
Trade discount:-In order to dispose the old or damaged goods, some shopkeepers offers a certain percentage of the marked price of an article as a discount. The discount, so given, is called trade discount.
Net price:-It is the price charged by the shopkeeper after deducting the trade discount.