alleryA cap bought for ₹120 is sold for ₹100. What is the result?
AProfit of ₹220
BLoss of ₹120
CProfit of ₹20
DLoss of ₹20
Answer & Solution
Correct answer: D. Loss of ₹20
1. Selling price is less than cost price.
2. So there is a loss.
3. Loss = 120 - 100 = 20.
_Source: Wikipedia, Profit (accounting) (CC BY-SA 4.0), Profit (accounting)_
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