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Q.

Choose whether the given statement is true or false:


Loss = Selling price (S.P.) - Cost price (C.P.)


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a

True

b

False 

answer is B.

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Detailed Solution

The given statement is Loss = Selling price (S.P.) - Cost price (C.P.).
We have to find whether the statement is true or false.
If any item is sold for less than its cost price then loss occurs and that is calculated by finding the difference between the cost price and the selling price of an item.
Loss = Cost price (C.P.) - Selling price (S.P.)
Hence, the statement is false and the correct statement is Loss = Cost price (C.P.) - Selling price (S.P.).
Therefore, the correct option is 2.
 
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