What is the frequency of finding profit or loss??
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1
Profit or Gain = S.P. - C.P. = Selling Price - Cost Price
Loss = C.P. - S.P. = Cost Price - Selling Price
Cost Price of foot ball = $ 150
Selling Price of foot ball = $ 210
210 > 150
As, S.P. > C.P.
So, he makes a profit
Profit = S.P. - C.P.
= $ (210 - 150)
= $ 60.
2. A merchant bought a table fan for $ 575 and sold for $ 500. Find the loss of the merchant in the transaction?
Cost Price of the table fan = $ 575
Selling Price of the table fan = $ 500
Loss = Cost Price - Selling Price
= $ (575 - 500)
= $ 75
Therefore, loss of the merchant is $ 75.
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