When a person gets loss -

(Where SP & CP represent Selling Price and Cost Price respectively)

SP>CP

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SP=CP

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SP<CP

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Solution

The correct option is C
SP<CP

A person makes a loss when the person sells something at a price lesser than what the person had bought it for.

For e.g., If a man purchases a mobile phone for Rs.15000 and sells it for Rs.10000. He incurs a loss of Rs. 5000 as

The cost price of mobile = Rs. 15000

The selling price of mobile = Rs. 10000

Loss = Cost Price - Selling Price

Loss = Rs. 15000 - Rs. 10000 = Rs 5000

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Similar questions

Q. Loss = SP - CP,
where,
SP = Selling price
and
CP = Cost price

When I make a loss on a sale, the relationship between selling price (SP) and cost price (CP) is

When an item is sold, there is neither a profit made and nor a loss incurred. Which of the following is true in such a case?

(CP = Cost Price, SP = Selling Price, MP = Marked Price)

Statement 1: Profit is defined as the positive difference between selling price and cost price whenever SP > CP.

Statement 2: Loss is found when CP > SP.

Choose the correct option with respect to the above statements.

Q. Write 'T' for true and 'F' for false

(i) Loss is reckoned on selling price.
(ii) Gain is reckoned on cost price.
(iii)

CP = \frac{100 \times SP}{(100 - loss %)} .

(iv) Loss = (CP) − (SP).

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When a person gets loss - (Where SP & CP represent Selling Price and Cost Price respectively)

When a person gets loss -

(Where SP & CP represent Selling Price and Cost Price respectively)