Profit and Loss

The term used to describe money gained after a sale.

• cost price
• selling price
• profit 
• loss

If the cost price of an item is $10 and the selling price is $12, was a profit or a loss made?

• profit

• loss

• neither

Tags

CCSS.7.EE.B.3

CCSS.7.NS.A.1

CCSS.7.NS.A.3

Find the loss of an item that cost $190 and sold for $175.

• $25

• $15

• -$15

• $30

Tags

CCSS.7.NS.A.1D

Find the profit: CP = $120, SP = $180

• $80

• $20

• -$20

• $60

Tags

CCSS.7.NS.A.2B

CCSS.7.NS.A.2A

The term used to describe money gained after a sale.

• cost price
• selling price
• profit 
• loss

Tags

CCSS.7.RP.A.3

If the CP is less than the SP, then there will be a loss.

• True

• False

Tags

CCSS.7.RP.A.3

What is meaning of loss?

• Difference between marked price and selling price

• Difference between cost price and marked price

• Difference between selling price and cost price

• All of the above

What is selling price?

• Price at which we buy the things.

• Price at which we sell the things.

Tags

CCSS.7.RP.A.2

CCSS.7.RP.A.3

If Selling price > Cost price, it will be

• Profit

• Loss

Tags

CCSS.7.RP.A.2

CCSS.7.RP.A.3

How we calculate profit?

• Profit = SP - CP

• Profit = CP- SP

Tags

CCSS.7.EE.B.3

CCSS.7.NS.A.1

CCSS.7.NS.A.3