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\\November 22, 2023 5:02 PM Surender Prajapati Proof 4 Reader _________________________ Date: ___________________74

Quick Check
(a) Anu buys a pencil-box for `85 and sells it for `90.

CP = ______ SP = ______
(b) Chhaya sold a piece of ribbon at `63, which she had bought for `55.

CP = ______ SP = ______

(c) A shopkeeper sells cups at `180 per dozen, which he buys at `150 per dozen.
CP = ______ SP = ______

Here, we have three possibilities:
(i) SP > CP (ii) SP < CP (iii) SP = CP

Š When the selling price (SP) is greater than the cost price (CP), that is, SP > CP, then
there will be a profit.
Profit = SP – CP

Š When the selling price (SP) is less than the cost price (CP), that is, SP < CP, then
there will be a loss.

Loss = CP – SP
Š When the selling price (SP) is equal to the cost price (CP), that is, SP = CP, then there
will be neither a profit nor a loss.

Since the selling price (SP) of flowers is greater than its cost price (SP) for Ramesh, he gets
a profit.

example 1: A shopkeeper buys a toy car at `280 each and sells it at `300 each. Does he
gain a profit or bear a loss? Find his profit or loss.
Solution: CP of a toy car = `280
SP of a toy car = `300

Here, SP > CP, that is `300 > `280
Hence, the shopkeeper earns a profit.

Since, Profit = SP – CP = `300 – `280 = `20
Thus, the shopkeeper earns a profit of `20.

example 2: Riya, a shopkeeper, bought a frock for `450 and sold it for `390. Did she earn
a profit or bear a loss? Also, find the profit or loss.
Solution: CP of a frock = `450

SP of a frock = `390
Clearly, SP < CP, as `390 < `450

So, Riya bore a loss.
Since, Loss = CP – SP = `450 – `390 = `60
Thus, Riya bore a loss of `60.

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