Table of Contents
Class 7 Maths Cost Price and Selling Price
Table of Contents
- Cost Price
- Selling Price
- Summary
- What’s Next?
In the previous segment, we had a look at Profit and Loss. In this segment of the chapter
‘Comparing Quantities’, we will look at Cost Price and Selling Price.
What is Cost price?
- The cost price is the amount at which the product is purchased.
- Sometimes it may include overhead expenses, transportation etc.
- It is abbreviated as CP.
What is Selling price?
- It is the amount at which a product is sold.
- It is abbreviated as SP.
- It can be less than, equal to, or more than the cost price of the product.
| Selling price > Cost price | Profit |
| Selling price < Cost price | Loss |
| Selling price = Cost price | Neither profit nor loss |
For example,
Q. If the cost price of a product is ₹ 10 and the shopkeeper sells it at ₹ 12, will the
shopkeeper gain profit or suffer loss? Solution:
Cost price (CP) = ₹ 10
