LEARNERS MODULE IN BUSINESS MATHEMATICS

BUYING AND SELLING

MODULE 3B: PROFIT AND LOSS, BREAK-EVEN ANALYSIS

CONTENT STANDARD

The learners demonstrate an understanding of key concepts in buying and selling.

PERFORMANCE STANDARD

The learners are able to analyze and solve problems on important factors in managing
a business: buying products and selling product.

COMPETENCIES

The learners
1. differentiate profit from loss (ABM_BM11BS-Ii-6);
2. illustrate how profit is obtained and how to avoid loss in a given transaction
(ABM_BM11BS-Ii-7);
3. define break-even; illustrate how to determine break-even point
(ABM_BM11BS-Ij-8); and
4. solve problems involving buying and selling products (ABM_BM11BS-Ij-9
10).

ESSENTIAL QUESTION

How important is determining profit (and/or loss) in buying and

selling?

ESSENTIAL SKILL

Solving problems involving profit and loss ad break-even analysis in buying and
selling.

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EXPLORE

ACTIVITY 1. LESS IS MORE

A. Directions: Group the following terms under the correct heading.
gain net income earnings decrease
shortage insufficiency valuable return misplacement
MORE LESS

B. Directions: Determine if the following indicates gain or loss.

1. Mr. Proloss bought a pen at P10 each and sold it for P12.
2. Mr. Profit purchased a scientific calculator at P600 but sold it after 3 days at
P550.
3. The cost of one dozen of eggs is P90. It was sold at P7 each.
4. Ms. Loss bought a pack of 3 shirts at P250. She sells it at P80 each shirt.
5. Ms. Pro Fit purchased a 50-kilo sack of rice at P2000. She repacked it at
1-kilo and sold it at P50 each pack.

C. Directions: Choose among the choices and explain your choices afterwards.

If you are a business owner which should you choose?

a. more pieces to sell at a high price
b. less number of pieces to sell at a lower price
c. more pieces to sell at a lower price
d. less number of pieces to sell at a high price

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DISCUSSION

PROFIT AND LOSS

Study the given situation below:

It costs Jocelyn Php 6 to make one stick of pork barbeque. She made 100 pieces
and sold 60 pieces at Php 7 each. After a few hours, she sold the remaining pieces at
a lower price of Php 5 each. Did she gain? If not, how much was her loss?

In the situation above, Jocelyn spent Php 600 to come up with 100 pieces of pork
barbecue. If we compute the money she has after being able to sell 60 pieces at Php
7 each, we get
𝑃ℎ𝑝 7 × 60 𝑝𝑖𝑒𝑐𝑒𝑠 = 𝑃ℎ𝑝 420
Then, if we compute the money she has after selling the remaining 40 pieces at Php
5 each, we get
𝑃ℎ𝑝 5 × 40 𝑝𝑖𝑒𝑐𝑒𝑠 = 𝑃ℎ𝑝 200
In total, Jocelyn was able to have Php 620. We can say that she was still able to gain
Php 20 more than what she spent. However, what is not clear in the problem are other
expenses that come with selling pork barbecue. As a busines person, determining
gains and loses is important to keep your business afloat.

Profit and Loss formula is used in mathematics to determine the price of a commodity
in the market and understand how profitable a business is. Every product has a cost
price and selling price. Based on the values of these prices, we can calculate the profit
gained or the loss of money for a particular product. The important terms covered here
are cost price and fixed, variable and semi-variable cost, selling price, marked price,
list price, margin etc. Also, we will learn the profit and loss percentage formula here.

Let us learn profit and loss concepts in business math. It is well explained in terms of
cost price and selling price. Profit (P) is the amount gained after selling a product more
than its cost price. Loss (L) is the amount, the seller gets after selling the product less

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than its cost price. Cost Price (CP) is the amount paid for a product or commodity to
purchase it. This cost price is further classified into two different categories: Fixed Cost
and Variable Cost. The fixed cost is constant, it doesn’t vary under any circumstances
while the variable cost could vary depending as per the number of units. Recall that
Selling Price (SP) is the amount for which the product is sold, sometimes called a sale
price.
Thus, to solve for Profit,

𝑃𝑟𝑜𝑓𝑖𝑡 𝑜𝑟 𝐺𝑎𝑖𝑛 = 𝑆𝑒𝑙𝑙𝑖𝑛𝑔 𝑝𝑟𝑖𝑐𝑒 – 𝐶𝑜𝑠𝑡 𝑃𝑟𝑖𝑐𝑒

On the other hand, to solve for Loss,

𝐿𝑜𝑠𝑠 = 𝐶𝑜𝑠𝑡 𝑃𝑟𝑖𝑐𝑒 – 𝑆𝑒𝑙𝑙𝑖𝑛𝑔 𝑃𝑟𝑖𝑐𝑒

The formula for the profit and loss percentage is:

𝑃𝑟𝑜𝑓𝑖𝑡
𝑃𝑟𝑜𝑓𝑖𝑡 𝑝𝑒𝑟𝑐𝑒𝑛𝑡𝑎𝑔𝑒 = ( ) 𝑥 100%
𝐶𝑜𝑠𝑡 𝑃𝑟𝑖𝑐𝑒
𝐿𝑜𝑠𝑠
𝐿𝑜𝑠𝑠 𝑝𝑒𝑟𝑐𝑒𝑛𝑡𝑎𝑔𝑒 = ( ) 𝑥 100%
𝐶𝑜𝑠𝑡 𝑃𝑟𝑖𝑐𝑒

Example 1. Suppose a shopkeeper has bought 1 kg of apples for Php 150 and sold it
for Php 165/kg. How much profit did he get?
Solution:
The cost price for 1kg of apple is Php 150. The selling price for 1 kg of apple is Php
165.
𝑃𝑟𝑜𝑓𝑖𝑡 = 𝑆𝑒𝑙𝑙𝑖𝑛𝑔 𝑝𝑟𝑖𝑐𝑒 – 𝐶𝑜𝑠𝑡 𝑃𝑟𝑖𝑐𝑒

𝑃𝑟𝑜𝑓𝑖𝑡 = 𝑃ℎ𝑝 165 – 𝑃ℎ𝑝 150 = 𝑃ℎ𝑝 15

The profit gained by shopkeeper is Php 15.

Example 2. For the above example calculate the percentage of the profit gained by
the shopkeeper.
Solution:
We know that
𝑃𝑟𝑜𝑓𝑖𝑡
𝑃𝑟𝑜𝑓𝑖𝑡 𝑝𝑒𝑟𝑐𝑒𝑛𝑡𝑎𝑔𝑒 = ( ) 𝑥 100%
𝐶𝑜𝑠𝑡 𝑃𝑟𝑖𝑐𝑒
𝑃ℎ𝑝 15
𝑃𝑟𝑜𝑓𝑖𝑡 𝑝𝑒𝑟𝑐𝑒𝑛𝑡𝑎𝑔𝑒 = ( ) 𝑥 100% = 10%
𝑃ℎ𝑝 150
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Therefore, the profit percentage is 10%.
Example 3. A man buys a fan for Php 1,000 and sells it at a loss of 15%. What is the
selling price of the fan?
Solution:
The cost Price of the fan is Php 1,000. The loss percentage is 15%.
𝐿𝑜𝑠𝑠
𝐿𝑜𝑠𝑠 𝑝𝑒𝑟𝑐𝑒𝑛𝑡𝑎𝑔𝑒 = ( ) 𝑥 100%
𝐶𝑜𝑠𝑡 𝑃𝑟𝑖𝑐𝑒
𝐿𝑜𝑠𝑠
15% = ( ) 𝑥 100%
𝑃ℎ𝑝 1,000
𝐿𝑜𝑠𝑠
0.15 =
𝑃ℎ𝑝 1,000
𝐿𝑜𝑠𝑠 = 0.15 × 1,000 = 𝑃ℎ𝑝 150
We know that
𝐿𝑜𝑠𝑠 = 𝐶𝑜𝑠𝑡 𝑃𝑟𝑖𝑐𝑒 – 𝑆𝑒𝑙𝑙𝑖𝑛𝑔 𝑃𝑟𝑖𝑐𝑒

So,
𝑆𝑒𝑙𝑙𝑖𝑛𝑔 𝑃𝑟𝑖𝑐𝑒 = 𝐶𝑜𝑠𝑡 𝑃𝑟𝑖𝑐𝑒 – 𝐿𝑜𝑠𝑠

𝑆𝑒𝑙𝑙𝑖𝑛𝑔 𝑃𝑟𝑖𝑐𝑒 = 𝑃ℎ𝑝 1,000 − 𝑃ℎ𝑝 150

𝑆𝑒𝑙𝑙𝑖𝑛𝑔 𝑃𝑟𝑖𝑐𝑒 = 𝑃ℎ𝑝 850

The selling price of the fan is Php 850.

Example 4. If a pen cost Php 50 after 10% discount. What is the actual price or
marked price for the pen?
Solution:
(100 – 𝑑𝑖𝑠𝑐𝑜𝑢𝑛𝑡)
𝑀𝑎𝑟𝑘𝑒𝑑 𝑃𝑟𝑖𝑐𝑒 𝑥 = 𝑆𝑒𝑙𝑙𝑖𝑛𝑔 𝑃𝑟𝑖𝑐𝑒
100
(100 – 10)
𝑀𝑃 𝑥 = 50
100
90
𝑀𝑃 𝑥 = 50
100
100
𝑀𝑃 = 50 𝑥
90
𝑀𝑃 = 𝑃ℎ𝑝 55.55
The actual price or marked price for the pen is Php 55.55.

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ACTIVITY 2. LET’S CHECK YOUR UNDERSTANDING

Directions: Study the table below and answer the questions that follow.

Income Component Possible Expenses

Price: Php 12 Sachets of powdered lemonade: Php 200
Number of cups of Water in gallons: Php 100
lemonade sold: Php 150
Container for mixing the lemonade: Php 200
Spoon to mix the powdered lemonade: Php 90
Cups: Php 100
Signage(Tarpaulin): Php 60
Table: Php 800
Yarn to attach signage: Php 10
Ice: Php 50
After studying the given situation, the following questions shall be answered:
1) Do you think the owner profits? Why?
2) What if you don’t have a profit from this business, what do you think should you do
or what changes do you make in order to earn?

BREAK – EVEN ANALYSIS

In business, your ultimate objective is to make money. So, when you launch a new
product or purchase a new piece of equipment, how do you know whether a potential
investment will at least cover the costs associated with it? You could simply make a
wish and hope it all works out – or you can evaluate the project more formally to see
if it makes financial sense. One way of doing this is to complete a Break-Even Analysis.

The Break-Even Analysis is used to determine when a product becomes profitable. It

is also used to find the point where your investment starts to pay off. When it is used,
you can answer questions like:

• What are the projected profits and losses at any given output level?
• At what minimum sales level do you avoid making a loss?

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• Do your sales projections for a new product exceed break-even?
• If you drop a product, will your break-even improve?
• How will raising or lowering prices affect your profitability?
• If costs increase, what is the effect on your break-even position?
• How does investing in facility improvements affect your break-even point?

In short, this determines the break-even point – the level of output at which the
revenues generated by a project equal costs. At the break-even point, you don't make
or lose money. Once you pass break-even, you make money; below break-even, you
lose it. This analysis is significant in examining the relationship among various
elements such as costs, prices and volume of sales that will lead to the best
combination that will make revenue and total cost equal.

Determining the break-even point involves a simple mathematical equation. You reach
break-even at the point where total costs (TC) equal total revenues (TR), or
𝑇𝐶 = 𝑇𝑅
Total costs have fixed and variable components: Fixed costs (FC) remain the same,
regardless of your output. Rent, insurance, and base salaries are examples of fixed
costs. Variable costs (VC) change with the number of units produced or sold.
Examples are materials, sales commissions, and direct labor costs. Therefore, total
variable costs (TVC) equal the variable costs multiplied by the number of units, or
𝑇𝑉𝐶 = 𝑛 𝑥 𝑉𝐶, where n is the number of units. Total costs equal total fixed costs plus
total variable costs: 𝑇𝐶 = 𝐹𝐶 + (𝑛 𝑥 𝑉𝐶).

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You can see how these costs vary with the number of units sold in the figure below:

Total revenue is the price charged per unit multiplied by the number of units produced
or sold: 𝑇𝑅 = 𝑛 𝑥 𝑃, where P equals the unit price. Again, you can see the line for
Total Revenue in figure 1, with break-even occurring where the TR line crosses the
TC line. You can calculate the break-even point by expanding the break-even
equation:
𝑇𝐶 = 𝑇𝑅
𝐹𝐶 + (𝑛 𝑥 𝑉𝐶) = 𝑛 × 𝑃

Solving for n gives you the number of units you need to break even:
𝑛 = 𝐹𝐶/(𝑃 – 𝑉𝐶)
If you have a specific profit target, you can use the break-even equation to calculate
the number of units you must sell to achieve that target:
𝑛 × 𝑃 = 𝐹𝐶 + (𝑛 × 𝑉𝐶) + 𝑃𝑟𝑜𝑓𝑖𝑡

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𝑛 = (𝐹𝐶 + 𝑃𝑟𝑜𝑓𝑖𝑡)/(𝑃 – 𝑉𝐶)

Example 4. Your friend from the US is considering launching a new product. She is
sharing some information to you. According to her, market research has shown that
customers will pay $115 for the product, and her sales team is confident that they can
sell at least 500 units per month. The equipment they'll need to produce the product
costs $900,000 and this will be spread over three years, giving them a fixed cost of
$25,000 per month. They need to decide if the product is financially viable.
Solution:
Fixed costs/month $25,000
Variable costs/unit:
Direct labor $20
Direct materials $15
Shipping $5
Sales commission $10
Total VC/unit $50
Price/unit $115
To calculate the break-even point, use this equation:
𝑛 = 𝐹𝐶/(𝑃 – 𝑉𝐶)
𝑛 = 25,000/(115 – 50)
𝑛 = 384.6

The break-even point is 385 units per month. This is below the minimum sales volume
that the sales team thinks they can achieve, so the product has a good chance of
making money.

A Break-Even Analysis is best used as a preliminary planning tool. In our example,

there are many other issues to consider. What is the opportunity cost of spending
$900,000 on the equipment as a capital expense, as opposed to investing the money
in something else? Would another product give a better Return on Investment (RoI)?

Break-Even Analysis is also very restrictive in what it includes in the equation. Cost
and revenue calculations can be much more complex than those considered in a
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Break-Even Analysis. Material costs and other costs can change dramatically, and it's
not always clear which fixed costs should be included. For example, what portion of
executive salaries should you use? Break-Even Analysis also doesn't consider cash
flow or how the proposed project might affect economies of scale, nor does it take into
account the value of money as it varies with time.

For these reasons and many others, Break-Even Analysis is most often used in the
early stages of thinking about a decision. From there, you can decide whether further
analysis is needed.

ACTIVITY 3. LET’S CHECK YOUR UNDERSTANDING

Directions: Answer the problem below.

Jaycris is planning to run a coffee shop where he plans to sell each cup of coffee at
Php 50. He assumed that the fixed cost he needs to pay on a monthly basis amounts
to Php 40 000 which includes all his expenses like the amount he needs to pay for the
rent, wages for his employees, his basic expenses (electricity bill, water bill, phone bill
and internet bill) and etc. So, even if Jaycris has no sales, he is still obliged to pay this
amount. If a cup of coffee costs Jaycris Php10 for the bulk of grind coffee beans,
purified water and coffee filters,

a. Draw the break-even chart.

b. What is the break-even quantity?

c. How much profit will he earn if he sells 500 cups? 1 500 cups?

d. How many cups must be sold to earn a profit of Php40 000?

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DEEPEN

Let us look into the following solved examples.

1. Greg bought a laptop for Php 28,000 and spent Php 2,500 on its spares. He
later sold it for Php 25,000. How much is Greg’s loss?
Solution:
𝐿𝑜𝑠𝑠 = 𝐶𝑜𝑠𝑡 𝑃𝑟𝑖𝑐𝑒 – 𝑆𝑒𝑙𝑙𝑖𝑛𝑔 𝑃𝑟𝑖𝑐𝑒

𝐿𝑜𝑠𝑠 = (𝑃ℎ𝑝 28,000 + 𝑃ℎ𝑝 2,500) – (𝑃ℎ𝑝25,000)

𝐿𝑜𝑠𝑠 = 𝑃ℎ𝑝 5,500

Greg’s loss is Php 5,500.

2. Ben bought 5 ball pens at P6.00 each. He sold it to his classmates at P8.00
each. How much profit will he have?
Solution:
𝑃𝑟𝑜𝑓𝑖𝑡 = 𝑆𝑒𝑙𝑙𝑖𝑛𝑔 𝑝𝑟𝑖𝑐𝑒 – 𝐶𝑜𝑠𝑡 𝑃𝑟𝑖𝑐𝑒

𝑃𝑟𝑜𝑓𝑖𝑡 = (𝑃ℎ𝑝 6 × 5)– (𝑃ℎ𝑝 8 × 5) = 𝑃ℎ𝑝 10

The profit gained by Ben is Php 10.

3. Alden went to Bicol and bought 25 packs of pili nuts for Php 875. When he got
back to Manila, he sold 15 packs for Php 675, and the rest at Php 40 each. How
much profit did Alden gain?
Solution:
𝑃𝑟𝑜𝑓𝑖𝑡 = 𝑆𝑒𝑙𝑙𝑖𝑛𝑔 𝑝𝑟𝑖𝑐𝑒 – 𝐶𝑜𝑠𝑡 𝑃𝑟𝑖𝑐𝑒

𝑃𝑟𝑜𝑓𝑖𝑡 = [𝑃ℎ𝑝 675 + (𝑃ℎ𝑝 40 × 10) − 𝑃ℎ𝑝 875 = 𝑃ℎ𝑝 200

The profit gained by Alden is Php 200.

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4. Arman sold a watch to his friend at a loss of 5%. If his friend paid Php 650 for
it, find the original cost of the watch.
Solution:
(100 – 𝑑𝑖𝑠𝑐𝑜𝑢𝑛𝑡)
𝑂𝑟𝑖𝑔𝑛𝑎𝑙 𝐶𝑜𝑠𝑡 = 𝑆𝑒𝑙𝑙𝑖𝑛𝑔 𝑃𝑟𝑖𝑐𝑒
100
(100 – 5)
𝑂𝐶 𝑥 = 650
100
95
𝑂𝐶 𝑥 = 650
100
100
𝑂𝐶 = 650 𝑥
95
𝑂𝐶 = 𝑃ℎ𝑝 684.21
The original cost for the pen is Php 55.55.

5. Alex buys an old scooter for Php 12,700 and spends Php 1,800 on its repairs.
If he sells the scooter for Php 15,800, what is his percent gain or percent loss?
Solution:
𝑇𝑜𝑡𝑎𝑙 𝐶𝑜𝑠𝑡 = 𝑃ℎ𝑝 12,700 + 𝑃ℎ𝑝 1,800 = 𝑃ℎ𝑝 14,500
We are looking at a profit.
𝑃𝑟𝑜𝑓𝑖𝑡 = 𝑆𝑒𝑙𝑙𝑖𝑛𝑔 𝑝𝑟𝑖𝑐𝑒 – 𝐶𝑜𝑠𝑡 𝑃𝑟𝑖𝑐𝑒

𝑃𝑟𝑜𝑓𝑖𝑡 = 𝑃ℎ𝑝 15,800 − 𝑃ℎ𝑝 14,500 = 𝑃ℎ𝑝 1,300

The profit gained by Alex is Php 1,300.
To compute the percent gain or profit percentage,
𝑃𝑟𝑜𝑓𝑖𝑡
𝑃𝑟𝑜𝑓𝑖𝑡 𝑝𝑒𝑟𝑐𝑒𝑛𝑡𝑎𝑔𝑒 = ( ) 𝑥 100%
𝐶𝑜𝑠𝑡 𝑃𝑟𝑖𝑐𝑒
𝑃ℎ𝑝 1,300
𝑃𝑟𝑜𝑓𝑖𝑡 𝑝𝑒𝑟𝑐𝑒𝑛𝑡𝑎𝑔𝑒 = ( ) 𝑥 100% = 8.23%
𝑃ℎ𝑝 15,800
His percent gain is 8.23%.

6. Lopez and Associates sells its product at Php 16 per kg. It has been recorded
that the company’s variable cost is Php 6 per kg and the fixed cost is Php 2,000.
a. Set up the total revenue function.
b. Set up the total cost function.
c. Set up the profit function
d. How much is the profit if 800 kilos of its products were sold?
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e. Determine the break-even point (s).
f. How many kilos of the product is needed to recover the fixed cost?
Solution:
a. Let x be the quantity of the product
R(x) = 16x
b. C(x) = 2000 + 6x
c. P(x) = R(x) – C(x)
= 16x – (2000 + 6x)
= 10x – 2000
d. Php 6 000
e. The break-even point is when the company sells 200 kg
f. 400 kg
Can you explain the solution?

SUMMARY

Points to remember:
• Profit is when the selling price is more than the cost price.
• Loss is when the cost price is more than the selling price.
• The percentage value for profit and loss is calculated in terms of cost price.
• To have profit, reduce expenses if needed.
• Change product pricing to increase revenue.
• Store owners should understand what products are making money and which
may be losing money.
• Store owners should understand if the store is making money.
• Store owners should understand if the store can afford future investment.
• Store owners should plan for future purchases including inventory and other
expenses associated with running the business.
• Break-even is the point at which the costs associated with production equal the
revenue generated.
• To use Break-Even Analysis effectively, you should have a reasonable
understanding of the costs involved in your operations.

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• When it is used as a general decision-making tool, Break-Even Analysis can
highlight projects that have a good chance of contributing to profits and those
that don't. It's not the tool to use for your final decision, but it can be useful for
the early planning stages.

PROBLEM-SOLVING

ACTIVITY 4. LOSE IT TO GAIN IT

Directions: Solve the following problems.

1. An orange vendor makes a profit of 10% by selling oranges at a certain price. If he

charges Php 4 higher per orange, he will gain 30%. Find the original price at which he
sold an orange.
2. If the cost price of 12 pens is equal to the selling price of 8 pens, the gain percent
is?
3. Joy bought pens at Php 120 a dozen. He sold it for Php 15 each. What is his profit
percent?
4. A fruit vendor bought 600 apples for Php 5500. He spent Php 400 on transportation.
How much should he sell each to get a profit of Php 1000?
5. Abraham bought a music system for Php 6 375.00 and spent Php 75.00 on its
transportation. He sold it for Php 6 400. Find his profit or loss percent.
6. A watch store owner decided to offer a 20% discount for a particular brand of watch
that sells at Php 35,000. By doing so, his average sales increased from 5 watches to
12 watches a day. If he bought one watch at a price of Php 22,000 from the supplier,
by how much was the daily profit increased or decreased by offering such discount on
the watch?
7. Annie bought one dozen smartphones for Php 200,000 with a discount of 5%. She
sold half dozen at a price of Php 18,000 per unit. However, a new model of
smartphone became available in the market, so she sold the remaining half dozen at
Php 12,000 each unit. By how much did she gain or lose money?

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 LEARNERS MODULE IN BUSINESS MATHEMATICS

BUYING AND SELLING

JOURNAL WRITING

A. Interview one business owner from your barangay. Ask them of their
experience on their best practices to obtain profit and avoid loss in their
business.

B. If you are to sell certain goods that were bought at Php 55 per pack with 10
cupcakes inside it, at what price should you sell each cupcake? Write about
how you can come up with the price and at what point will you start profiting?

C. You are going to sell a product. This can be the continuation of the business
plan you have made in the previous module. You have to keep a record
everything like of the starting capital, how much each product cost and if the
profit or loss.

ANSWER KEY

EXPLORE
ACTIVITY 1. LESS IS MORE
A.
MORE LESS
gain decrease
valuable return shortage
net income insufficiency
earnings misplacement

B. Directions: Determine if the following indicates gain or loss.

1) gain 2) loss 3) loss 4) loss 5) gain

C. Answers vary

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 LEARNERS MODULE IN BUSINESS MATHEMATICS

BUYING AND SELLING

ACTIVITY 2. LET’S CHECK YOUR UNDERSTANDING
1. Total expenses = Php 1 610, Possible revenue = Php 1800
Since the revenue is greater than the total expenses, it is assumed that the owner
profits.
2. Answers may vary

ACTIVITY 3. LET’S CHECK YOUR UNDERSTANDING

1.

a.
b. 1,000
c. – Php 20,000, Php 20,000
d. 2,000

ACTIVITY 4. LOSE IT TO GAIN IT

1. 1.1(c) + 4 = 1.3c , c = 20
2. (4/8)*100 = 0.50 = 50%
3. 50%
4. Php 11.5
5. 0.78%
6. The daily profit increased by Php 7,000
7. She lost Php 10,000

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 LEARNERS MODULE IN BUSINESS MATHEMATICS

BUYING AND SELLING

REFERENCES

Bacani, Jerico B, and Jeffrey M Soriano. 2017. Business Mathematics For Senior
High School. Quezon City: C & E Publishing, Inc.
n.d. BYJU'S LEARNING APP. Accessed June 19, 2020.
https://byjus.com/maths/profit-and-loss/.
Lopez, Brian Roy C, Leah C Martin-Lundag, and Keneth Adrian P Dagal. 2016.
Business Math. Quezon City: Vibal Group, Inc.
n.d. Mind Tools. Accessed June 19, 2020.
https://www.mindtools.com/pages/article/newTED_75.htm.

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