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Online Quiz (Worksheet A B C D)

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MEAP Preparation - Grade 7 Mathematics
1.107 Cost Price, Selling Price, and Profit

Cost Price: The money paid by a store owner to buy goods is called the cost price(C.P.) of the store owner.

Selling Price: The price at which a store sells the goods is called the selling price (S.P.).

Profit: If the selling price (S.P.) is greater than the cost price (C.P.), then the store owner make a profit.

Profit = Selling Price - Cost Price
Selling Price = Cost Price + Profit
Cost Price = Selling Price - Profit

Directions: Answer the following qustions. Also write at least ten examples of your own.
Q 1: Cost price = $2962 selling price = $3000, find the profit.

Q 2: Selling price = $390 and profit = $20, find the cost price.

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