<h3>What is Cost Price?</h3>
This refers to the price which a seller or a merchant purchased a good and this would be a good determinant to find out the selling price so that he could make a good profit.
<h3>Selling Price</h3>
This refers to the price which a good is sold and there are several factors which are taken into account such as:
Mathematically, the<em> profit= </em>Cost price - Selling Price (Expenditure)
Please note that your question is incomplete so I gave you a general overview so that you could have a better understanding of the concept.
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Answer:
Hmmm
Step-by-step explanation:
We have been given that Anil borrows $80 000 to buy a business. The bank gives him a loan, with an interest rate of 2% each year. We are asked to find the total amount paid back by Anil to bank after 10 years.
We will use simple interest formula to solve our given problem.
, where,
A = Final amount,
P = Principal amount,
r = Annual interest rate in decimal form,
t = Time in years.
Let us convert 2% into decimal.
We have 
and 
, so we will get:
Therefore, Anil will pay 
to the bank after 10 years.
Answer:
1. They consist primarily of variables.
2. They are often called formulas.
4. They often describe real-world relationships.
