The S.P of an article is Rs.180 and it was bought for Rs.150, then find the amount of profit or loss
Answers
Step-by-step explanation:
Answer:-
Given that:-
S.P of an Article is Rs. 180.
C.P of the Article was Rs. 150.
We need whether it is :-
Profit or Loss
Concept:-
Chapter name - Conceptual questions on Profits and Loss, Simple and Compund Interest, GST, discounts and Taxes.
Let's Do!
\rm{Sold \ Price - The \ price \ required \ to \ sell \ an \ item}Sold Price−The price required to sell an item
\rm{Cost \ Price - The \ price \ required \ to \ buy \ an \ item}Cost Price−The price required to buy an item
\rm{Profit = Sold \ Price \ (SP) - Cost \ Price \ (CP)}Profit=Sold Price (SP)−Cost Price (CP)
\rm{Loss = Cost \ Price \ (CP) - Sold \ Price \ (SP)}Loss=Cost Price (CP)−Sold Price (SP)
Profit is only applicable if Sold Price is greater than Cost Price
Loss is only applicable when Cost Price is Greater than Sold Price. We conclude:-
Profit = SP>CP
Loss = CP>SP.
Here, we can see that SP > CP. Hence, it is a profit, and that's great [Smartwork].
\rm{Profit = Sold \ Price \ (SP) - Cost \ Price \ (CP)}Profit=Sold Price (SP)−Cost Price (CP)
\rm{Profit = 180 - 150}Profit=180−150
\mapsto\rm{Profit = Rs. \ 30}↦Profit=Rs. 30
So, amount of Profit is Rs. 30.
Step-by-step explanation:
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