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The cost price and selling price are given in the following table. Find out whether there was a profit or a loss and how much it was.Ex.Costprice(in Rs)Sellingprice(in Rs)Profitor LossHow much?i.45005000ii.41004090iii.700799iv1000920 |
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Answer» i. Cost price = Rs 4500 Selling price = Rs 5000 Selling price is greater than cost price. ∴ There is a profit. ∴ Profit = Selling price – Cost price = 5000 – 4500 ∴ Profit = Rs 500 ii. Cost price = Rs 4100 Selling price = Rs 4090 Cost price is greater than selling price. ∴ There is a loss. ∴ Loss = Cost price – Selling price = 4100 – 4090 ∴ Loss = Rs 10 iii. Cost price = Rs 700 Selling price = Rs 799 Selling price is greater than cost price. ∴ There is a profit. ∴ Profit = Selling price – Cost price = 799 – 700 ∴ Profit = Rs 99 iv. Cost price = Rs 1000 Selling price = Rs 920 Cost price is greater than selling price. ∴ There is a loss. ∴ Loss = Cost price – Selling price = 1000 – 920 ∴ Loss = Rs 80
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