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Question
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)
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)
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Solution
The correct option is C CP = SP
Selling Price (SP) is the price at which a commodity or an item is sold.
Cost Price (CP) is the price at which an item is bought or purchased.
When CP = SP, there is neither a profit made nor a loss incurred.
When CP > SP, we say there is a loss incurred.
When CP < SP, we say there is a profit made.
CP = SP
Selling Price (SP) is the price at which a commodity or an item is sold.
Cost Price (CP) is the price at which an item is bought or purchased.
When CP = SP, there is neither a profit made nor a loss incurred.
When CP > SP, we say there is a loss incurred.
When CP < SP, we say there is a profit made.
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