1. It occurs when the cost and expenses exceed the selling price or sales.

2.The money earned after the cost price (direct cost) and the other operating costs (indirect cost) are accounted for after the sale of a commodity is called__________________.

3.Aaron gains 30% in selling a bookshelf for Php 4500. What is the cost of bookshelf? (Round-off your answer to whole number)

4. What is the loss percent if the retailer sells a pair of rubber shoes for Php 1,460 which was bought for Php 1,825?

5.Mr. Santos bought 100 pieces of notebook for Php 2000 and sold each for Php23. Find the loss or profit in selling the notebook.

6. What is the selling price of an outdated jacket if its cost is Php 550 and loss percentage is 24%

7. Mr. Tan bought 3 dozens of roses for Php 720 which he now sells for Php24 each.If 7 of the roses wither, did he gain or loss in selling rose? By how much?

8. Arman sold a chess board to Noel with a markup rate of 12%, Noel then sold it to Victor and incurred a loss of 10%. If Victor paid the chess board for 1200,how much is the cost of the chess board?

9. Ivy sold two cellphones for Php 13500 each. She gains 10% on the first cellphone but losses 10% on the other. Find the cost of the two cellphones.