Statement1: Profit is defined as the positive difference between selling price(S.P) and cost price(C.P) when ( S.P > C.P).
Statement 2: Loss is found when (C.P > S.P)
Calculate the profit or loss and profit or loss per cent in each of the following cases:(i) C.P. =Rs. 4560, S.P. =Rs. 5000(ii) C.P. =Rs. 2600, S.P. =Rs. 2470(iii) C.P. =Rs. 332 S.P.=Rs. 350(iv) C.P. =Rs. 1500, S.P.=Rs. 1500