Hamidbhai bought bananas worth 2000 rupees and sold them all for 1890 rupees. Did he make a profit or a loss? How much was it?
He bought bananas for Rs. 2000.
Hence, Cost price = Rs. 2000
Selling price = Rs. 1890
Cost price is greater than selling price. Therefore, Hamidbhai suffered a loss.
Loss = Cost price - Selling price
= 2000 - 1890
= Rs. 110
∴ Hamidbhai suffered a loss of Rs. 110 in this transaction.
Video Tutorials For All Subjects
- Concepts of Cost Price, Selling Price, Total Cost Price, and Profit and Loss, Discount, Overhead Expenses and GST