5
Question
For a situation of having neither profit nor loss, which of the following is correct?
For a situation of having neither profit nor loss, which of the following is correct?
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Solution
The correct option is C C.P = S.P
When selling price (S.P) of an article is more than the cost price (C.P), i.e. S.P > C.P, then a profit has incurred in the transaction.
Profit = S.P - C.P
When cost price (C.P) is more than the selling price (S.P.), i.e. C.P > S.P, then a loss has incurred in the transaction.
Loss = C.P - S.P
But, when C.P = S.P, then there is neither loss nor profit.
C.P = S.P
When selling price (S.P) of an article is more than the cost price (C.P), i.e. S.P > C.P, then a profit has incurred in the transaction.
Profit = S.P - C.P
When cost price (C.P) is more than the selling price (S.P.), i.e. C.P > S.P, then a loss has incurred in the transaction.
Loss = C.P - S.P
But, when C.P = S.P, then there is neither loss nor profit.
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