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Question
Match the following with their respective formula.
Match the following with their respective formula.
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Solution
The price, at which an article is purchased, is called its cost price, abbreviated as C.P.
The price, at which an article is sold, is called its selling price, abbreviated as S.P.
The prices of the items marked according to the price list quoted by the factory are called as marked price, abbreviated as M.P.
If S.P. is greater than C.P., the seller is said to have a profit or gain.
Hence, Profit = S.P - C.P
If S.P. is less than C.P., the seller is said to have incurred a loss.
Hence, Loss = C.P - S.P
Discount is defined as the reduction in the marked price of the item.
Hence, Discount = M.P - S.P
And amount is defined as the sum of the money invested called as principal and the interest accumulated on this invested money.
Hence, Amount = Principal + Interest
The price, at which an article is sold, is called its selling price, abbreviated as S.P.
The prices of the items marked according to the price list quoted by the factory are called as marked price, abbreviated as M.P.
If S.P. is greater than C.P., the seller is said to have a profit or gain.
Hence, Profit = S.P - C.P
If S.P. is less than C.P., the seller is said to have incurred a loss.
Hence, Loss = C.P - S.P
Discount is defined as the reduction in the marked price of the item.
Hence, Discount = M.P - S.P
And amount is defined as the sum of the money invested called as principal and the interest accumulated on this invested money.
Hence, Amount = Principal + Interest
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