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### MEAP Preparation - Grade 7 Mathematics1.107 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. Formulae: 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.\$40\$55\$38 Q 2: Cost price = \$161 and selling price = \$170, find the profit.\$7\$8\$9 Q 3: Selling price = \$37621 and profit is \$2701, find the cost price.\$34500\$34920\$35920 Q 4: Selling price = \$390 and profit = \$20, find the cost price.\$410\$370\$390 Q 5: Cost price = \$75 and selling price = \$79, find the profit.\$4\$8\$6 Q 6: Selling price = \$2792 and profit = \$300, find the cost price.\$2592\$2692\$2492 Q 7: Cost price = \$2932 and profit = \$270, find the selling price.\$3200\$3202\$3002 Q 8: Cost price = \$2770 and selling price = \$2772, find the profit.\$6\$2\$4 Question 9: This question is available to subscribers only! Question 10: This question is available to subscribers only!