NCERT Solutions
Class 7 Maths
Comparing Quantities

Ex.8.3 Q.1
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 ₹ 250 and sold for ₹ 325.
(b) A refrigerator bought ₹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.
(a) Cost price of gardening shears = ₹ 250
Selling price of gardening shears = ₹ 325
Since, S.P. > C.P., therefore here is profit.
So, Profit = S.P. – C.P. = ₹325 – ₹250 = ₹ 75
Now Profit% = * 100
= * 100
= * 100
= 3 * 10
= 30%
Therefore, Profit = ₹75 and Profit% = 30%
(b) Cost price of refrigerator = ₹ 12,000
Selling price of refrigerator = ₹13,500
Since, S.P. > C.P., therefore here is profit.
So, Profit = S.P. – C.P. = ₹13500 – ₹12000 = ₹1,500
Now Profit% = * 100
= * 100
= * 100
= * 100
= 12.5%
Therefore, Profit = ₹1,500 and Profit% = 12.5%
(c) Cost price of cupboard = ₹ 2,500
Selling price of cupboard = ₹ 3,000
Since, S.P. > C.P., therefore here is profit.
So, Profit = S.P. – C.P. = ₹3,000 – ₹2,500 = ₹ 500
Now Profit% = * 100
= * 100
= * 100
= 20%
Therefore, Profit = ₹ 500 and Profit% = 20%
(d) Cost price of skirt = ₹ 250
Selling price of skirt = ₹ 150
Since, C.P. > S.P., therefore here is loss.
So, Loss = C.P. – S.P. =₹250 – ₹150 = ₹100
Now Loss% = * 100
= * 100
= * 100
= * 100
= 2 * 10
= 40%
Therefore, Profit = ₹ 100 and Profit% = 40%