Q1
When does profit occur?
AWhen selling price is higher than cost price
BWhen selling price equals cost price
CWhen selling price is lower than cost price
DNever
SSCClass 6 (SSC)Mathematics (गणित)Ch 13 · Topic 1
Profit-Loss
Profit and loss are calculated by comparing the cost price and selling price of goods, essential concepts for understanding business transac
Core concept
Profit occurs when the selling price is higher than the cost price, calculated as Profit = Selling Price - Cost Price.
How it works
Loss occurs when the selling price is lower than the cost price, calculated as Loss = Cost Price - Selling Price.
Why it matters
Profit or loss percentage is calculated as (Profit or Loss ÷ Cost Price) × 100, showing the proportion gained or lost.
Key detail
Understanding profit and loss helps us in real-life situations like shopping, running a small business, or evaluating deals.
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Quick notes
• Profit: selling price > cost price.
• Profit = Selling Price - Cost Price.
• Loss: selling price < cost price.
• Loss = Cost Price - Selling Price.
• Profit/Loss % = (Profit or Loss ÷ CP) × 100.
• This shows proportion gained/lost.
• Used in shopping, business.
• It helps evaluate deals.