Question

In each example in the table, determine whether a profit was made or a loss suffered. Then, write the proper figures in the empty boxes.

S. No.	Cost price (Rs)	Selling price (Rs)	Profit (Rs)	Loss (Rs)
(1)	560	600
(2)	450	400
(3)	300	345
(4)	785	765
(5)	5180	6000
(6)	3050	3200
(7)	8600	8520

Answer 1

When selling price > cost price,
Profit = Selling price – Cost price
When cost price > selling price,
Loss = Cost price – Selling price

S. No.	Cost price (Rs)	Selling price (Rs)	Profit (Rs)	Loss (Rs)
(1)	560	600	SP − CP = 600 − 560 = 40
(2)	450	400		CP − SP = 450 − 400 = 50
(3)	300	345	SP − CP = 345 − 300 = 45
(4)	785	765		CP − SP = 785 − 765 = 20
(5)	5180	6000	SP − CP = 6000 − 5180 = 820
(6)	3050	3200	SP − CP = 3200 − 3050 = 150
(7)	8600	8520		CP − SP = 8600 − 8520 = 80