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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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)