Answer:
Step-by-step explanation:
If cost price (CP) is greater than selling price (SP) , then the item is sold for loss.
Loss = CP - SP
Loss% = [tex]\frac{loss}{CP}*100[/tex]
If SP is greater than Cp, then the item is sold for a profit.
Profit =SP -CP
Gain % = [tex]\frac{gain}{CP}*100[/tex]
a) CP = $50 ; SP = $30 ; CP > SP, loss
Loss = 50 - 30 = $ 20
Loss % = [tex]\frac{20}{50}*100=20*2[/tex]
= 40% loss
b) CP = £ 5000 ; SP = £6250 ; SP > CP , Profit
Profit = 6250 - 5000 = £ 1250
Profit % = [tex]\frac{1250}{5000}*100=25[/tex]
25% Profit
