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Keypoints:
6.Cost price: The money paid to buy an article is called the cost price
and is represented by CP
7.Selling price: The price at which an article is sold is called the selling
price of the article and is represented by SP
8.Profit: If SP > CP,then profit= SP – CP
Profit Percent = × 100
9.Loss: If SP < CP then loss = CP – SP
Loss Percent = ×100
10.Note: Profit or loss percent is always calculated on CP
11.When Profit percent is given then
a)SP= × CP
b)CP= ×SP
12.When loss percent is given then
a)SP= ×CP
b)CP= ×SP
Exercise 8.1