In Mathematics, the profit is defined as the gain amount from any activity. The profit can be explained in terms of cost price and selling price. The cost price is the actual price of any product, and the selling price is the price of the product which is sold. The cost price is abbreviated as CP, and the selling price is abbreviated as SP. Thus, the profit of the product can be determined by taking the difference between the cost price and the selling price. Thus, the formula to calculate profit is given by



Profit/Gain = Selling Price (SP) – Cost Price (CP)