To Find profit or loss when cost price and sell price are given

(i) When Selling Price > Cost Price, there is profit and it is given by

Selling Price – Cost Price

(ii) When Selling Price > Cost Price, there is a loss and is given by

Cost Price – Selling Price

 

Example : A man buys a toy for Rs.25 and sells it for Rs.30 . Find his profit.

Solution : Now, following the above formula (i), we have profit = Rs. 30 – Rs. 25 = Rs. 5

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