Match List-I with List-II.
| List-I | List-II | ||
|---|---|---|---|
| (A) | Gain | (I) | (C.P.) − (S.P.) |
| (B) | Loss | (II) | \(\displaystyle\frac{100+\text{Gain}\,\%}{100}\times \text{C.P.}\) |
| (C) | S.P. | (III) | \(\displaystyle\frac{100}{100-\text{Loss}\,\%}\times \text{S.P.}\) |
| (D) | C.P. | (IV) | (S.P.) − (C.P.) |
Choose the correct answer from the options given below:
Answer & explanation
Correct answer: option 4
The correct answer is Option (4) → A-IV, B-I, C-II, D-III
Gain and loss compare the selling price (S.P.) with the cost price (C.P.), and a gain or loss per cent is always reckoned on the C.P.
(A) Gain — this matches (IV) (S.P.) − (C.P.). There is a gain when the article sells for more than it cost, and the gain is the excess.
(B) Loss — this matches (I) (C.P.) − (S.P.). There is a loss when the article sells for less than it cost, and the loss is the shortfall.
(C) S.P. — this matches (II). With a gain of \(g\%\), the S.P. is \((100+g)\%\) of the C.P., that is, \(\displaystyle\frac{100+g}{100}\times\text{C.P.}\)
(D) C.P. — this matches (III). With a loss of \(l\%\), the S.P. is \((100-l)\%\) of the C.P.; turning this round gives \(\displaystyle\text{C.P.}=\frac{100}{100-l}\times\text{S.P.}\)