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Grade 7

Q1) Tell what is the profit or loss in the following transactions. Also find profit percent or loss percent in each case.

(a) Gardening shears bought for Rs. 250 and sold for Rs. 325.

(b) A refrigerator bought Rs. 12,000 and sold at Rs. 13,500.

(c) A cupboard bought for Rs. 2,500 and sold at Rs. 3,000.

(d) A skirt bought for Rs. 250 and sold at Rs. 150.

Solution:

(a) The cost price of gardening shears = Rs. 250

The selling price of gardening shears = Rs. 325

Since S.P. > C.P. therefore here is profit.

\therefore Profit = S.P. – C.P. = 325 – 250 = Rs. 75

Now Profit% = \frac{\Pr ofit}{C.P}\times100

= \frac{75}{250}\times100=30\%

Therefore, Profit = Rs. 75 and Profit% = 30%

(b) Cost price of refrigerator = Rs. 12,000

Selling price of refrigerator = Rs. 13,500

Since, S.P. > C.P., therefore here is profit.

\therefore Profit = S.P. – C.P. = 13500 – 12000 = Rs. 1,500

Now Profit% = \frac{\Pr ofit}{C.P}\times100

= \frac{1500}{12000}\times100=12.5\%

Therefore, Profit = Rs. 1,500 and Profit% = 12.5%

(c) Cost price of cupboard = Rs. 2,500

Selling price of cupboard = Rs. 3,000

Since, S.P. > C.P., therefore here is profit.

\therefore Profit = S.P. – C.P. = 3,000 – 2,500 = Rs. 500

Now Profit % = \frac{\Pr ofit}{C.P}\times100

= \frac{500}{2500}\times100=20\%

Therefore, Profit = Rs. 500 and Profit % = 20%

(d) Cost price of skirt = Rs. 250

Selling price of skirt = Rs. 150

Since, C.P. > S.P., therefore here is loss.

\therefore Loss = C.P. – S.P. = 250 – 150 = Rs. 100

Now Loss% = \frac{Loss}{C.P}\times100

= \frac{100}{250}\times100=40\%

Therefore, Profit = Rs. 100 and Profit% = 40%

Still have questions? Our expert teachers can help you out

Book a free class nowQ1) Tell what is the profit or loss in the following transactions. Also find profit percent or loss percent in each case.

(a) Gardening shears bought for Rs. 250 and sold for Rs. 325.

(b) A refrigerator bought Rs. 12,000 and sold at Rs. 13,500.

(c) A cupboard bought for Rs. 2,500 and sold at Rs. 3,000.

(d) A skirt bought for Rs. 250 and sold at Rs. 150.

Solution:

(a) The cost price of gardening shears = Rs. 250

The selling price of gardening shears = Rs. 325

Since S.P. > C.P. therefore here is profit.

\therefore Profit = S.P. – C.P. = 325 – 250 = Rs. 75

Now Profit% = \frac{\Pr ofit}{C.P}\times100

= \frac{75}{250}\times100=30\%

Therefore, Profit = Rs. 75 and Profit% = 30%

(b) Cost price of refrigerator = Rs. 12,000

Selling price of refrigerator = Rs. 13,500

Since, S.P. > C.P., therefore here is profit.

\therefore Profit = S.P. – C.P. = 13500 – 12000 = Rs. 1,500

Now Profit% = \frac{\Pr ofit}{C.P}\times100

= \frac{1500}{12000}\times100=12.5\%

Therefore, Profit = Rs. 1,500 and Profit% = 12.5%

(c) Cost price of cupboard = Rs. 2,500

Selling price of cupboard = Rs. 3,000

Since, S.P. > C.P., therefore here is profit.

\therefore Profit = S.P. – C.P. = 3,000 – 2,500 = Rs. 500

Now Profit % = \frac{\Pr ofit}{C.P}\times100

= \frac{500}{2500}\times100=20\%

Therefore, Profit = Rs. 500 and Profit % = 20%

(d) Cost price of skirt = Rs. 250

Selling price of skirt = Rs. 150

Since, C.P. > S.P., therefore here is loss.

\therefore Loss = C.P. – S.P. = 250 – 150 = Rs. 100

Now Loss% = \frac{Loss}{C.P}\times100

= \frac{100}{250}\times100=40\%

Therefore, Profit = Rs. 100 and Profit% = 40%

Still have questions? Our expert teachers can help you out

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