Question

What is the frequency of finding profit or loss??

Answer 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.