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.

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.

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.

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