Question

. A used dining table is sold for ₹ 7,678. It had been bought for ₹ 8,500. What is

the loss that is incurred?​

Answer 1

Answer:

₹ 822

Step-by-step explanation:

Given:

• Selling price ( S.P. ) of a dinning table = ₹ 7,678
• Cost price ( C.P. ) of a dinning table = ₹ 8,500

To find:

• The loss incurred.

Solution:

When cost price ( C.P. ) of an article is greater than selling price ( S.P. ) of an article, then loss is incurred. To find loss we will subtract cost price ( C.P. ) of an article from the selling price ( S.P. ) of an article.

Same here, we will subtract cost price ( C.P. ) of a dining table from the selling price ( S.P. ) of a dinning table.

Cost price is nothing but the price at which an article is purchased.

Abbreviated as C.P.

Selling price is the price at which an article is sold.

Abbreviated as S.P.

Let's find the loss incurred.

• Loss incurred = C.P. - S.P. ( As C.P. is greater than S.P. so we will subtract S.P. from C.P.

• Loss incurred = ₹ ( 8,500 - 7,678 )

• Loss incurred = ₹ 822

∴ The loss incurred that is incurred while selling the dining table = ₹ 822

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