## Selina Concise Mathematics class 7 ICSE Solutions – Profit, Loss and Discount

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**POINTS TO REMEMBER**

- The Cost Price (C.P.) of an article is the price at which the article is bought.
- The Selling Price (S.P.) of an article is the price at which the article is sold.
- If
**Selling Price**of an article is more than its cost price ; it is sold at a**profit (gain)**

**Profit = Selling Price-Cost Price**

**i.e., Profit (gain) = S.P. – C.P. and S.P. = C.P. + Gain** - If Selling Price of an article is less than its cost price ; it is sold at a loss.

**Loss = Cost Price – Selling Price**

i.e.,**Loss = C.P. – S.P. and S.P. = C.P. — Loss** - Profit percent and loss percent are always calculated on cost price (C.P.) only.

i.e.,**(i)**Profit % = x 100% andLoss % = x 100%

(ii) **Selling Price**= Marked price – Discount

i.e., S.P. = M.P.—(piscount

**Note : (i)**Discount is calculated on marked price (M.P.)

**(ii)**Marked price is also written as List price.

**EXERCISE 9 (A)**

**Question 1.**

**Find the gain or loss percent, if**

** (i) C.P. = Rs. 200 and S.P.: = Rs. 224**

** (ii) C.P. = Rs. 450 and S.P. = Rs. 400**

** (iii) C.P. = Rs. 550 and gain = Rs . 22**

** (iv) CP. = Rs. 216 and loss = Rs. 72**

** (v) S.P. = Rs. 500 and loss : = Rs. 100**

** (vi) S.P. = Rs. 12 and profit = Rs. 4**

** (vii) C.P. = Rs. 5 and gain = 60 P**

**Solution:**

**Question 2.**

**Find the selling price, if:**

** (i) C.P. = Rs. 500 and gain = 25%**

** (ii) C.P. = Rs. 60 and loss = 12 1/2%**

** (iii) C.P. = Rs. 150 and loss = 20%**

** (iv) C.P. = Rs. 80 and gain = 2.5%**

**Solution:**

**Question 3.**

**Rohit bought a tape-recorder for Rs. 1,500 and sold it for Rs. 1,800. Calculate his profit or loss percent.**

**Solution:**

**Question 4.**

**An article bought for Rs. 350 is sold at a profit of 20%. Find its selling price.**

**Solution:**

**Question 5.**

**An old machine is bought for Rs. 1,400 and is sold at a loss of 15%. Find its selling price.**

**Solution:**

**Question 6.**

**Oranges are bought at 5 for Rs. 10 and sold at 6 for Rs. 15. Find profit or loss as percent.**

**Solution:**

**Question 7.**

**A certain number of articles are bought at 3 for Rs. 150 and all of them are sold at 4 for Rs. 180. Find the loss or gain as percent.**

**Solution:**

**Question 8.**

**A vendor bought 120 sweets at 20 p each. In his house, 18 were consumed and he sold the remaining at 30 p each. Find his profit or loss as percent.**

**Solution:**

**Question 9.**

**The cost price of an article is Rs. 1,200 and selling price is times of its cost price. Find:**

** (i) selling price of the article**

** (ii) profit or loss as percent.**

**Solution:**

**Question 10.**

**The selling price of an article is Rs. 1,200 and cost price is times of its selling price,**

** find :**

** (i) cost price of the article ;**

** (ii) profit or loss as percent.**

**Solution:**

**EXERCISE 9 (B)**

**Question 1.**

**Find the cost price, if:**

** (i) S.P. = Rs. 21 and gain = 5%**

** (ii) S.P. = Rs. 22 and loss = 12%**

** (iii) S.P. = Rs. 340 and gain = Rs. 20**

** (iv) S.P. = Rs. 200 and loss = Rs. 50**

** (v) S.P. = Re. 1 and loss = 5 p.**

**Solution:**

**Question 2.**

**By selling an article for Rs. 810, a loss of 10 percent is suffered. Find its cost price.**

**Solution:**

**Question 3.**

**By selling a scooter for Rs. 9,200, a man gains 15%. Find the cost price of the scooter.**

**Solution:**

**Question 4.**

**On selling an article for Rs. 2,640, a profit of 10 percent is made. Find**

** (i) cost price of the article**

** (ii) new selling price of it, in order to gain 15%**

**Solution:**

**Question 5.**

**A T.V. set is sold for Rs. 6800 at a loss of 15%. Find**

** (i)cost price of the T.V. set.**

** (ii)new selling price of it, in order to gain 12%**

**Solution:**

**Question 6.**

**A fruit seller bought mangoes at Rs. 90 per dozen and sold them at a loss of 8 percent. How much will a customer pay for.**

** (i) one mango**

** (ii) 40 mangoes**

**Solution:**

**Question 7.**

**By selling two transistors for Rs. 00 each, a shopkeeper gains 20 percent on one transistor and loses 20 percent on the other.**

** Find :
(i) C.P. of each transistor**

**(ii) total C.P. and total S.P. of both the transistors**

**(iii) profit or loss percent on the whole.**

**Solution:**

**Question 8.**

**Mangoes are bought at 20 for Rs. 60. If**

** they are sold at 33 percent profit.
Find:**

**(i) selling price of each mango.**

**(ii) S.P. of 8 mangoes.**

**Solution:**

**Question 9.**

**Find the cost price of an article, which is sold for Rs. 4050 at a loss of 10%. Also, find the new selling price of the article which must give a profit of 8%.**

**Solution:**

**Question 10.**

**By selling an article for ₹825, a man loses equal to j of its selling price.
Find :**

**(i) the cost price of the article,**

**(ii) the profit percent or the loss percent made, if the same article is sold for ₹1265.**

**Solution:**

**Question 11.**

**Find the loss or gain as percent, if the C.P. of 10 articles, all of the same kind, is equal to S.P. of 8 articles.**

**Solution:**

**Question 12.**

**Find the loss or gain as percent, if the C.P. of 8 articles, all of the same kind, is equal to S.P. of 10 articles.**

**Solution:**

**Question 13.**

**The cost price of an article is 96% of its selling price. Find the loss or the gain as percent on the whole.**

**Solution:**

**Question 14. **

**The selling price of an article is 96% of its cost price. Find the loss or the gain as percent on the whole.**

**Solution:**

**Question 15.**

**Hundred oranges are bought for ₹350 and all of them are sold at the rate of ₹48 per dozen. Find the profit percent or loss percent made.**

**Solution:**

**Question 16.**

**Oranges are bought at 100 for ?80 and all of them are sold at ₹80 for ₹100. Find the loss or gain as percent in this transaction.**

**Solution:**

**Question 17.**

**An article is bought for ₹5,700 and ₹1,300 is spent on its repairing, transportion, etc. For how much should this article be sold in order to gain 20% on the whole.**

**Solution:**

**EXERCISE 9 (C)**

**Question 1.**

**A machine is marked at ₹5000 and is sold at a discount of 10%. Find the selling price of the machine.**

**Solution:**

**Question 2.**

**shopkeeper marked a dinner set for ₹1000. He sold it at ₹900, what percent discount did he give ?**

**Solution:**

**Question 3.**

**A pair of shoes marked at ₹320, are sold at a discount of 15 percent.**

** Find :**

** (i) discount**

** (ii) selling price of the shoes.**

**Solution:**

**Question 4.**

**The list price of an article is ₹450 and it is sold for ₹360.**

** Find :**

** (i) discount**

** (ii) discount percent**

**Solution:**

**Question 5.**

**A shopkeeper buys an article for₹300. He increases its price by 20% and then gives 10% discount on the new price. Find:**

** (i) the new price (marked price) of the article.**

** (ii) the discount given by the shopkeeper.**

** (iii) the selling price.**

** (iv) profit percent made by the shopkeeper.**

**Solution:**

**Question 6.**

**A car is marked at Rs. 50,000. The dealer gives 5% discount on first Rs. 20,000 and 2% discount on the remaining Rs. 30,000.**

** Find :**

** (i) the total discount.**

** (ii) the price charged by the dealer.**

**Solution:**

**Question 7.**

**A dealer buys a T.V. set for Rs. 2500. He marks it at Rs. 3,200 and then gives a discount of 10% on it.**

** Find :**

** (i) the selling price of the T.V. set**

** (ii) the profit percent made by the dealer.**

**Solution:**

**Question 8.**

**A sells his goods at 15% discount. Find the price of an article which is sold for Rs. 680.**

**Solution:**

**Question 9.**

**A shopkeeper allows 20% discount on the marked price of his articles. Find the marked price of an article for which he charges Rs. 560.**

**Solution:**

**Question 10.**

**An article is bought for Rs. 1,200 and Rs. 100 is spent on its transportation, etc.**

** Find :**

** (i) the total C.P. of the article.**

** (ii) the selling price of it in order to gain 20% on the whole.**

**Solution:**

**Question 11.**

**40 pens are bought at 4 for Rs. 50 and all of them are sold at 5 for Rs. 80**

** Find :**

** (i) C.P. of one pen.**

** (ii) S/P. of one pen.**

** (iii) Profit made by selling one pen.**

** (iv) Profit percent made by selling one pen.**

** (v) C.P. of 40 pens**

** (vi) S.P. of 40 pens.**

** (vii) Profit made by selling 40 pens.**

** (viii) Profit percent made by selling 40 pens. Are the results of parts (iv) and (viii) same? What conclusion do you draw from the above result ?**

**Solution:**

**Question 12.**

**The C.P. of 5 identical articles is equal to S.P. of 4 articles. Calculate the profit percent or loss percent made if all the articles bought are sold.**

**Solution:**

**Question 13.**

**The C.P. of 8 pens is same as S.P. of 10 pens. Calculate the profit or loss percent made, if all the pens bought are considered to be sold**

**Solution:**

**Question 14.**

**A certain number of articles are bought at Rs. 450 per dozen and all of them are sold at a profit of 20%. Find the S.P. of:**

** (i) one article**

** (ii)seven articles.**

**Solution:**

**Question 15.**

**An article is marked 60% above the cost price and sold at 20% discount. Find the profit percent made.**

**Solution:**

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Exercise 9(B)

question no 16

answer should be loss of 56.25%

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