‘Profit’ and ‘Loss’ are two terms that are used to identify whether a transaction is profitable or not. If the cost price is greater than that of the selling price, it is known as a loss. Likewise, if the selling price is greater than the cost price, it is known as a profit.

- The cost price is the price at which the item is bought.
- The selling price is the price at which the item is sold.
- For example, Ram buys an article at $5 and sells it at $10. Here, $5 is the cost price and $10 is the selling price.

Grade 7

Signed Number Operations