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Money, Profit and Loss

If the cost price of a toy is ₹ 75 and the selling price is ₹ 70, then the loss incurred is ₹ .___

State whether the following statement is TRUE or FALSE: The price at which an article is purchased is called its selling price.

True

False

Ms. Varsha sold her car for ₹ 1,15,000 which she had purchased for ₹ 1,30,000. Calculate the profit or loss that Ms. Varsha incurred.

� 75,000

� 15,000

� 2,45,000

₹ 25,000

Avinash bought a TV set for Rs. 5000 and he spend Rs. 1000 on its transportation. He sold it for Rs. 4800. Find his profit/loss on the whole transaction.

Profit of Rs. 1200

Loss of Rs. 1200

Profit of Rs. 1500

Loss of Rs. 1300

When an article is sold at a price lower than its cost price, a _______ is made.

Loss

Profit

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