MathsComparing QuantitiesProfit and LossClass 8 Maths Cost Price and Selling Price | Comparing Quantities

Class 8 Maths Cost Price and Selling Price | Comparing Quantities

Class 7 Maths Cost Price and Selling Price

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    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

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