Question

Example 1:

A shopkeeper bought a box of chocolates for ruppes 27.50 and sold it for ruppes 25.00. Did he make a profit or loss and how much did he lose or gain?​

Answer 1

Solution:-

Cost price (CP ) of a box of chocolates = ₹ 27.50

His selling price (SP ) = ₹ 25.00

Since,

CP is greater-than SP therefore he made a loss

we know ,

Lose = CP - SP

= ₹ 27.50 - ₹ 25.00

= ₹ 2.50

The shopkeeper made a loss of ₹ 2.50

Formula used:-

Lose = CP - SP

We know :-

Profit(P)

The amount gained by selling a product with more than its cost price.

Loss(L)

If the amount the seller gives less than price at which he brought the item , then he made a loss

Cost Price (CP)

The amount paid for a product or commodity to purchase it is called a cost price. Also, denoted as CP

Selling Price (SP)

The amount for which the product is sold is called Selling Price. It is usually denoted as SP.

Answer 2

Solution:-

Cost price (CP) of the box of chocolates = ₹ 27.50

His selling price (SP) = ₹ 25.00

Since,

CP is greater than SP, therefore he made a loss

we know,

Loss = CP - SP

= ₹ 27.50 - ₹ 25.00

= ₹ 2.50