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Understanding Cost per Unit in Every Day Life Situation

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Question

Write 'T' for true and 'F' for false

(i) Loss is reckoned on selling price.
(ii) Gain is reckoned on cost price.
(iii) $CP = \frac{100 \times SP}{(100 - loss %)} .$
(iv) Loss = (CP) − (SP).

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Solution

(i) False
Gain or loss is always reckoned on the cost price.

(ii) True
(iii) True
(iv) True

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Q. Write 'T' for true and 'F' for false

(i) Loss is reckoned on selling price.
(ii) Gain is reckoned on cost price.
(iii)

CP = \frac{100 \times SP}{(100 - loss %)} .

(iv) Loss = (CP) − (SP).

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