Define:- Gross profit Net profit Trade discount Net Price

Answers (1)

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. 

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