DIRECTIONS: Fill in the blanks by choosing the correct word from the brackets.
1. The money paid by a shopkeeper to buy an article is called the _____________. (cost price/selling price) of the article.
2. The money (paid/received) by a shopkeeper on selling an article is called the selling price of the article. 3. The extra money that the bank gives you is called the (interest/rate of interest).
4. Sometimes, apart from paying the cost of an article, a shopkeeper has to spend money on transportation, labour, maintainence etc. Such expenses are known as ___ (superhead expenses/ overhead expenses).
5. When cost price is greater than selling price, then there is a ___ (gain/loss).
7. The money deposited or borrowed is called the ______ (Amount/Principal).
8. Simple interest depends on time, rate of interest and ___ (principal/amount).