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When Selling Price of an article is greater than Cost Price then there is Profit.

S.P > C.P -----> Profit |

Profit = P = S.P - C.P |

Jackson purchased a toy car at $125 $ and sold it at $ 138 $. State whether there is profit or loss and how much?

Cost price = c.p = $125$

Selling Price = S.P = $138 $

As S.P >C.P, there is a profit.

P = S.P – C. P

P = 138 – 125

P = $ 13 $

When Selling Price of an article is less than Cost Price then there is Loss.

S.P < C.P -----> Loss |

Loss = L = C.P - S.P |

Ally purchased a bag for $230 $ and sold it at $175 $. State whether there is profit or loss and how much?

Cost Price = C. P = $230 $

Selling Price = S.P = $175 $

As S.P < C.P, there is a loss.

L = C.P – S. P

L = 230 – 175

L = $ 55 $

• Finding profit or loss percent

• Finding cp when sp and Profit or Loss percent are given

• Finding sp when cp and Profit or Loss percent are given

• Solved examples on Profit - Loss

7th grade math

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