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A trader bought two articles for $500 each and sold them for $600 and $400 respe
Practice Questions
Q1
A trader bought two articles for $500 each and sold them for $600 and $400 respectively. What is his overall profit or loss?
$0
$100 profit
$100 loss
$200 profit
Questions & Step-by-Step Solutions
A trader bought two articles for $500 each and sold them for $600 and $400 respectively. What is his overall profit or loss?
Steps
Concepts
Cost Price and Selling Price
– Understanding the difference between the cost price (CP) and selling price (SP) of items to calculate profit or loss.
Profit and Loss Calculation
– Calculating overall profit or loss by subtracting total cost from total selling price.
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