Write ‘T’ for true and 'F' for false for each of the following: (i) SP = (100 + loss%)/100 x CP

Question

Write ‘T’ for true and 'F' for false for each of the following:

(i) SP = \(\frac{(100\,+\,loss\%)}{100}\times CP\)

(ii) CP = \(\frac{100}{(100\,+\,gain\%)}\times SP\)

(iii) Gain is reckoned on the selling price.

(iv) The discount is allowed on the marked price.

Answer 1

(i) False 

SP = ((100 – Loss %) / 100) × CP 

(ii) True 

(iii) False 

If seller sells any item greater than Cost Price, it is said to have a Gain. 

Gain = SP - CP 

(iv) T 

Discount = Marked Price – Selling Price