Question

Vivaan bought a new watch for ₹6590 and then sold it to Rehaan for ₹5690. What will the difference between the two amounts be called for Vivaan?

(2 Marks)

Answer 1

Price at which Vivaan bought the watch is Cost Price for him.
Price at which he sold the watch is Selling Price for him.
Since C.P > S.P, Vivaan suffered a loss.
(1 mark)

Hence, the difference between the two amounts will be called a loss for Vivaan.

(1 Mark)