Question

Please write your answer with explanation ​

Answer 1

Explanation:

If cost price (CP) is greater than selling price (SP) , then the item is sold for loss.

Loss = CP - SP

Loss% =
`(loss)/(CP)*100`

If SP is greater than Cp, then the item is sold for a profit.

Profit =SP -CP

Gain % =
`(gain)/(CP)*100`

a) CP = $50 ; SP = $30 ; CP > SP, loss

Loss = 50 - 30 = $ 20

Loss % =
`(20)/(50)*100=20*2`

= 40% loss

b) CP = £ 5000 ; SP = £6250 ; SP > CP , Profit

Profit = 6250 - 5000 = £ 1250

Profit % =
`(1250)/(5000)*100=25`

25% Profit