Profit and Loss Grade 7

Profit and Loss

Grade 7 

What is cost price ?

Cost price is the price at which something is brought.

What is selling price?

Selling price is the price at which something is sold.

What is profit ?

• Its a profit if the selling price is more than the cost price.

• Selling price - cost price = profit 

What is loss?

• When cost price is more than the selling price then its a loss

• Cost price - Selling price = Loss

What is profit percent?

Profit percent is the  percentage of profit 

mathematical representation is given

What is loss percent?

Loss percent is the percentage of loss


mathematical representation is given

Multiple Choice

Cost price = 2290

Selling price = 2498

• Profit

• Loss

Fill in the Blanks

What is the profit if the Cost price(CP) and the selling price(SP) are 3245 and 2367 respectively

Multiple Select

Hari sold two books on eBay for ₹ 120 each. His profit percent on one was 25% and his loss on the other was 25%. Which of these is/are true?

• He neither gained nor lost.

• He gained ₹16​ .

• He lost ₹16​ .

• His gain was approximately 7%​ .

• His loss was approximately 6%​ .

Multiple Choice

A trader purchased 500​ kg of wheat at ₹8​ per kg. If he made a profit of 10%​ per kg for half of his purchase and a loss of 5%​ per kg for the other half, find his net profit.

• 1000

• 500

• 100

• 50