CBSE Class 8 Answered
I have doubt on cancellation of profit and loss please explain clearly
Asked by gsumi8024 | 03 Feb, 2018, 07:40: AM
Expert Answer
If there is a profit, then the Selling price will be greater than the Cost price.
If there is a loss, then the Cost price will be greater than the Selling price.
Profit= Selling Price - Cost Price
Loss= Cost Price - Selling Price
These two formulas are the basic formulas. With these formulas you can find the unknown values.
Answered by | 04 Feb, 2018, 08:27: PM
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