Question

How we are getting cost price and selling price of this sum when cost price of 4 for rupee 35 and sold it for 5 for 58

Answer 1

Cost price (C.P.): This is the price at which an article is purchased.

Selling price (S.P.): This is the price at which an article is sold.

Profit or Gain: If the selling price is more than the cost price, the difference between them is the profit incurred.

Formula: Profit or Gain = S.P. – C.P.

Loss: If the selling price is less than the cost price, the difference between them is the loss incurred.

Formula: Loss = Cost price (C.P.) – Selling Price (S.P.)

Profit or Loss is always calculated on the cost price.

Marked price: This is the price marked as the selling price on an article, also known as the listed price.