Question

Fill in the blanks.
(i) $CP=\frac{100\times \underset{–}{}}{100-Loss\%}$
(ii) Profit or loss is always calculated on the

Answer 1

i) CP = $\frac{100\times sellingprice}{100-loss\%}$

ii) If selling price is more than cost price, profit occurs.

profit = selling price – cost price

If selling price is less than cost price, loss occurs

loss = cost price - selling price

Profit percentage and loss percentage are always calculated on $\underset{–}{costprice}$