Chapter 10 – Profit and Loss – R S Aggarwal Solutions for class 8
Basics terms to be used in this chapter
(a) Cost price (CP): It is the price at which an article is bought.
(b) Selling price (SP): It is the price for which an article is sold.
(c) Profit or gain: When selling price is more than the cost price.
- Profit or gain = SP-CP
(d) Loss: when cost price is more than the selling price.
- Loss = CP-SP
Formulae to be used in this chapter: