Commercial Arithmetic: Profit and Loss
This lesson covers the concepts of profit and loss in commercial arithmetic. Students will learn to identify cost price and selling price, and how to calculate profit or loss these values. The lesson also includes calculating profit or loss in percentage.
- 07:01 “Did he finally sell? So, to get the selling is selling at 50 minus eight. So, it's going to be selling our one. 42 cartons. It's selling for two cartons. So, what would not be the selling price at 42 cartons? Because sel...”
- 06:14 “But 50. Techniques. So, the first thing you write out all the parameters that are given. So, it's easy. Parameters are given already now. Then it's easy to compute. So, we have 550 times 50 does 27.500 is the cost price....”
- 07:46 “Compare the two. Remember, the cost price, the selling price. Compare the two. Now, is it going to be making a profit or make a loss? Look at it. You see that this cost price is greater than the selling price. And it wou...”
Cost of Production
This lesson covers the concept of cost in economics, focusing on the cost of production. It explains different types of costs, such as fixed and variable costs, and discusses the factors of production that contribute to overall costs.
- 00:47 “Whenever you hear the word cost, what does it mean? Costs, as the name implies, refers to the economic value that is attached to a particular product or service. The value that is attached to a particular product or word...”
- 16:04 “you calculate your worth, your total cost, please take note, your total cost here is going to be worth, it's going to be fixed cost, plus worth, plus variable cost, okay, remember the first one I get to you is worth, is...”
- 25:58 “okay, over changing quantity, anything marginal, the first line is always dash, you can see, here, for the first unit is dash, so you start from the second one, very easy, even without capital it or you can do this, just...”
Revenue Types
This lesson defines revenue and explains its three main types: total revenue, average revenue, and marginal revenue. It covers how to calculate each type and their relationships to production and sales.
- 18:06 “So that's where you have the maximum profit. Okay? So profit is maximized as output for. That's how you tell them. Profit is maximized as what? As output for. Then let's go to some things. Calculate the profit when quant...”
- 19:02 “Total revenue is what? 30. Minus total cost is what? 25. Can you see? 25. So the difference between this and this is what? Five. So ladies and gentlemen, this is our profit. Can you see? Very easy. See R minus CC. That i...”
- 15:24 “where do you have maximum profit, maximum profit, okay, so, let's go to the next one, 9, and 8, is that profit, yes, how much profit, profit of 1, R, I know, you see, 9 minus worth, 8, the difference between your, c, R,...”
Translating Word Problems into Equations
The lesson teaches how to translate word sentences into mathematical equations. It covers the use of variables to represent numbers and how to express word problems as algebraic expressions. Students will learn to solve simple equations and check their answers.
- 07:04 “could find out what the exact age is. But as it is now, there's no value. We leave it the way it is. Second example, a shop owner sells maize at Sunera Parkop. She also sells rice Parkop at double the price of the maize....”
- 12:06 “So we have 90 Q. So because we have the same terms, we can easily add them together, which gives you 140 Q. So because the value of Q can vary, just because we had 2 Nera already, that was how we could get the value 280....”
- 11:09 “So we say Q. And rice adds double the price of maize. That is two times Q. If she sold 50 cups of maize and 45 cups of rice, what was her income? So 50 cups of Q, that is 50 of Q, 50 Q plus-- this is 2Q plus 2Q times 45....”
Meaning and Types of Trade
The lesson explains the concept of trade as the buying and selling of goods. It describes the types of trade, including own trade and foreign trade, and outlines the services that facilitate trade. The role of Customs and Excise in foreign trade is also discussed.
- 09:26 “For example, you go to a machine, you find a product that is cheaper than the one you find in terms of your show market. So it increases competition among traders. Secondly, lower prices. Like we have learned in previous...”
- 10:17 “You want to look in a particular way and you already have this idea. When you get to the market, you find a specific dress that you like. So it is benefits and added value to the customer. It also decreases monopoly. You...”
- 00:48 “What is trade? It is the fundamental concept that involves the buying and selling of goods in a market place. It is an expansion and exchange of services for a competition by the buyer. It can also be seen as an action t...”
Types of Office Documents
The lesson explains the term 'office document' and identifies different types of office documents. It covers sales documents, their examples, and their uses, as well as purchase documents.
- 08:09 “for the buyer to initiate this process and for this deal to be sealed. So, the buyer has initiated interest in a particular good from the manufacturer or the seller or even a retailer. Sometimes, even the buyer buys good...”
- 02:26 “repair services rendered by a company. So, a sales document is the document that the seller prepares and issues to a buyer. So, what are examples of sales documents? One, it is a price list. This shows the names of all g...”
- 07:18 “the buyer needs to understand the details of the quotations and also definition of the price and quantity and items, prospect bets on needs. So, some of the ways of preparing a sales documents is the prospect bets on nee...”
Departmental Accounts
This lesson covers the definition and purpose of departmental accounts. It explains how to prepare these accounts to show the performance of different departments in a business. The lesson also discusses the advantages of using departmental accounts for comparison, error detection, and managerial as
- 19:44 “multiplied by $1,800. So it will be taking care of $400, 13, $400, 13, NIRA. Okay, so we are $400, 13, NIRA, okay? So for department C, $17,000 is a total cost of his own sales divided by the total sales. So we have $17,...”
- 35:44 “And then you will set the various apportionments where necessary. Now, let's look at what we have as the solution. We are taking care of the various expenses and the income that we need to take care of. So, in preparing...”
- 15:42 “Expenses are to be apportioned as follows. Delivery expenses, proportionates to sales. Salaries, insurance, and rents. Ratio seats to 6 to 3. Other expenses are to be apportioned equally. Discount received are to be appo...”