Question

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

(i) Loss is reckoned on selling price.
(ii) Gain is reckoned on cost price.
(iii) $\mathrm{CP}=\frac{100\times \mathrm{SP}}{(100-\mathrm{loss}\%)}.$
(iv) Loss = (CP) − (SP).

Answer 1

(i) False
Gain or loss is always reckoned on the cost price.

(ii) True
(iii) True
(iv) True