If a shopkeeper gains a profit on the purchase of an item, then which of the following statement holds true?

(CP = Cost Price, SP = Selling Price, MP = Marked Price)

CP > SP

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SP > CP

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CP = SP

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MP = CP

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Solution

The correct option is B
SP > CP

Selling Price (SP) is the price at which a commodity or an item is sold.

Cost Price (CP) is the price at which an item is bought or purchased.

If the selling price of an article is more than its cost price, then it is sold at a profit.

The profit gained is calculated as:

$Profit = Selling Price - Cost Price$

$∴$ The correct answer is SP $>$ CP.

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Similar questions

Q. If a shopkeeper gains a profit on the purchase of an item, then which of the following statement holds true?

(CP = Cost Price, SP = Selling Price, MP = Marked Price)

When an item is sold, there is neither a profit made and nor a loss incurred. Which of the following is true in such a case?

(CP = Cost Price, SP = Selling Price, MP = Marked Price)

Q. Loss = SP - CP,
where,
SP = Selling price
and
CP = Cost price

Q. The marked price (mp) of a double bed is Rs.9,575. A shopkeeper allows a discount of 12% and still gains 10%. Find the cost price (Cp) of the double bed.

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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If a shopkeeper gains a profit on the purchase of an item, then which of the following statement holds true? (CP = Cost Price, SP = Selling Price, MP = Marked Price)

If a shopkeeper gains a profit on the purchase of an item, then which of the following statement holds true?

(CP = Cost Price, SP = Selling Price, MP = Marked Price)