Q.4 Complete the table. Items Cost Price Selling Price Profit/Loss Amount Bag Rs. 150.00 Rs. 175.00 Water bottle Rs. 7900 Rs. 77 00 T-shirt Rs. 50000 Rs. 505 OO Ball Rs. 25 75 Rs. 26 75 pen Rs 1000 Rs. 5 50
Answers
Answer:
Cost Price: The amount paid to purchase an article or the price at which an article is made is known as its cost price. The cost price is abbreviated as C.P.
Selling Price: The price at which an article is sold is known as its selling price. The selling price is abbreviated as S.P.Profit and Loss
Profit
If the selling price (S.P.) of an article is greater than the cost price (C.P.), the difference between the selling price and cost price is called profit. Thus, if S.P. > C.P., then
Profit=S.P.–C.P.S.P.=C.P.+ProfitC.P.=S.P.–Profit
Profit Percentage
The profit percent is the profit that would be obtained for a C.P. of Rs 100 i.e,
Profitpercent=(ProfitC.P.)×100
Loss
If the selling price (S.P.) of an article is less than the cost price (C.P), the difference between the cost price (C.P.) and the selling price (S.P.) is called loss. Thus, if S.P. < C.P., then
Loss=C.P.–S.P.C.P.=S.P.+LossS.P.=C.P.–Loss
Loss percentage
The loss percentage is the loss that would be made for a C.P. of Rs 100, that is
Losspercent=(LossC.P.)×100
Neutral Situation
If S.P. = C.P., then seller neither gain money or los