Tell what is the profit or loss in the following transactions. Also find profit per cent or loss per cent in each case.
(a) Gardening shears bought for ₹250 and sold for ₹325.
(b) A refrigerater bought for ₹12,000 and sold at ₹13,500.
(c) A cupboard bought for ₹2,500 and sold at ₹3,000.
(d) A skirt bought for ₹250 and sold at ₹ 150.
Solution:
a) In this question gardening shears are bought for Rs. 250 and sold for Rs. 325.
Since selling price is greater thanthe cost price, so there is a profit.
Profit = Selling price - Cost price
= 325 – 250
= Rs. 75
Profit % = (Profit / Cost Price) ×100
= (75 / 250) ×100
= 750 / 25
= 30%
You can verify this by using a profit calculator.
b)In this question refrigerator was bought for Rs 12,000 and sold at Rs 13,500.
Since the selling price is greater than the cost price so there is a profit.
Profit = Selling price - Cost price
= 13500 - 12000
= Rs.1500
Profit% = (Profit / Cost Price) × 100
= 1500/12000 × 100
= 150000/12000
= 12.5%
c) In this question the selling price of cupboard is Rs. 3,000 and cost price is Rs. 2,500.
Since selling price is greater than cost price so there is profit
Profit = Selling price - Cost price
= 3000 - 2500
= Rs. 500
Profit % = (Profit / Cost Price) × 100
= 500/2500 ×100
= 20%
d) Cost price of the skirt is Rs. 250 and the selling price is Rs. 150.
Since, cost price is greater than selling price so there is a loss
Loss = Cost price - Selling price
= 250 – 150
= Rs. 100
Loss% = (Loss / Cost Price) × 100
= 100/250 ×100
= 40%
☛ Check: NCERT Solutions for Class 7 Maths Chapter 8
Video Solution:
Tell what is the profit or loss in the following transactions. Also find profit per cent or loss per cent in each case. (a) Gardening shears bought for ₹250 and sold for ₹325. (b) A refrigerater bought for ₹12,000 and sold at ₹13,500. (c) A cupboard bought for ₹2,500 and sold at ₹3,000. (d) A skirt bought for ₹250 and sold at ₹ 150.
Class 7 Maths NCERT Solutions Chapter 8 Exercise 8.3 Question 1
Summary:
The profit or loss in the following transactions along with the profit per cent or loss per cent in each case (a) Gardening shears bought for ₹250 and sold for ₹325. (b) A refrigerater bought for ₹12,000 and sold at ₹13,500. (c) A cupboard bought for ₹2,500 and sold at ₹3,000. (d) A skirt bought for ₹250 and sold at ₹ 150. are a) Profit = Rs. 75, Profit% = 30%, b) Profit = Rs. 1500, Profit% = 12.5%, c) Profit = Rs. 500, Profit% = 20%, d) Loss = Rs.100, Loss% = 40%.
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