Question

A man bought a pen for Rs 35. It is sold for Rs 45. Find loss and profit percent​

Answer 1

Answer:

Cost Price: The price at which an article is bought or purchased is called its cost price. (C.P.)

Selling Price: The price at which an article is sold is called its selling price. (S.P.)

Profit: When an article is sold for more than what it costs, we say that there is a ‘profit’ or gain.

Loss: When an article is sold for less than what it costs , we say that there is a ‘loss’.

When the selling price is equal to the cost price, then there is neither profit nor loss.

We recall a few important facts below:

Profit = Selling Price – Cost Price

Loss = Cost Price – Selling Price

Cost Price = Selling Price – Profit or, Selling Price + Loss

Selling Price = Cost Price + Profit or, Cost Price – Loss

Profit or Loss per cent =

\dfrac{Total \hspace{1mm} profit/loss}{cost \hspace{1mm} price} \times 100