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Q.

Choose whether the given statement is true or false:


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


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a

True

b

False 

answer is A.

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Detailed Solution

The given statement is Profit = 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 more than its cost price then profit occurs and that is calculated by finding the difference between the selling price and the cost price of an item.
Profit = Selling price (S.P.) - Cost price (C.P.)
Hence statement is true and option 1 is correct.
 
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