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Question
The cost price and selling price are given in the following table. Find out whether there was a profit or a loss and how much it was.
| Cost Price (in Rs.) |
Selling Price (in Rs) |
Profit or Loss | How much? |
| 700 | 799 |
Solution
Cost price = Rs 700; Selling price = Rs 799
Here selling price is more than cost price, so there is a profit.
Profit = Selling price − Cost price
= 799 − 700
= Rs 99
Hence, there is a profit of Rs 99.
| Cost Price (in Rs.) |
Selling Price (in Rs) |
Profit or Loss | How much? |
| 700 | 799 | Profit | Rs. 99 |
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