Question

Jasmine purchased a toy car at $125 and sold it at $138. State whether she made a profit or loss and by how much.

Answer 1

Answer:

$\framebox{GIVEN:}$

CP = $125

SP = $138.

$\framebox{SOLUTION:}$

Here, SP<CP. If S.P. is greater than C.P., the seller is said to have incurred a gain.

Gain = SP - CP

Gain = $(138 - 125)

Gain = $13