Question

The cost price and selling price are given in the following table. Find out whether there was a profit or a loss and how much it was.

Ex.	Cost price (in Rs)	Selling price (in Rs)	Profit or Loss	How  much?
i.	4500	5000
ii.	4100	4090
iii.	700	799
iv	1000	920

Answer 1

i. Cost price = Rs 4500 

Selling price = Rs 5000 

Selling price is greater than cost price.

∴ There is a profit. 

∴ Profit = Selling price – Cost price 

= 5000 – 4500 

∴ Profit = Rs 500

ii. Cost price = Rs 4100 

Selling price = Rs 4090 

Cost price is greater than selling price. 

∴ There is a loss. 

∴ Loss = Cost price – Selling price 

= 4100 – 4090 

∴ Loss = Rs 10

iii. Cost price = Rs 700 

Selling price = Rs 799 

Selling price is greater than cost price. 

∴ There is a profit. 

∴ Profit = Selling price – Cost price 

= 799 – 700 

∴ Profit = Rs 99

iv. Cost price = Rs 1000 

Selling price = Rs 920 

Cost price is greater than selling price. 

∴ There is a loss. 

∴ Loss = Cost price – Selling price 

= 1000 – 920 

∴ Loss = Rs 80

Ex.	Cost price (in Rs)	Selling price (in Rs)	Profit or Loss	How  much?
i.	4500	5000	Profit	Rs 500
ii.	4100	4090	Loss	Rs 10
iii.	700	799	Profit	Rs 99
iv	1000	920	Loss	Rs 80