Question

7) The cost price and selling price are in case of no profit or loss.
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Answer 1

If the selling price is lesser than the cost price, whatever difference you get between the two is the loss suffered. Similarly, Loss is C.P. – S.P. Always remember that you calculate profit or loss on the cost price.

Answer 2

Answer:

If the cost price is greater there is a loss .

If the selling price is greater there is a profit .

Step-by-step explanation:

Hope it helps you dear.