Profit and Loss | Math | Chapter 9 | Grade 5 | With Exercises Solution

Profit and Loss

Objectives:

Student will be able to:

1. Define cost price and selling price
2. Calculate loss or profit and find their percentages too.
3. Evaluate the percentage of loss or profit.

Outcomes:

Students will have learnt to decide the situation of loss and profit and handle the situation in real life.

Materials:

Different object with tag price.

Cost Price (C.P.) and Selling Price (S.P.)/button

Question: What is Cost Price (C.P.)?
Answer: The money that we pay on buying things is called cost price (C.P.). alert-info

Question: What is Selling Price (S.P.)?
Answer: The money for which the thing is sold is called selling price (S.P.). alert-info

Let us try an example - You buy a simple mobile phone at Rs. 3,000. After few days, you sold it on Rs. 3,500. What happened there? You get extra Rs. 500. This is the profit.

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∴ PROFIT = Selling Price (S.P.) - Cost Price (C.P.) and remember S.P.>C.P. alert-success

Likewise, if you need to sell that mobile at Rs. 2,200, what will happen? You will be in a loss. You will loose Rs. 800 within that time.

∴ LOSS = Cost Price (C.P.) - Selling Price (S.P.) and remember C.P.>S.P. alert-success

The profit and loss can be expressed in the form of percentage.

Profit Percent =Profit Amount     C.P.tAx100 alert-info

Loss Percent =Loss Amount     C.P.tAx100 alert-info

Grade 5: Math Subject-Chapter:9 - Profit and Loss: Exercise 9.1 (With Solution)/button

1. Find the profit or loss of the followings.

a. C.P. = Rs. 150, S.P. = Rs. 170
Solution:
Here,
C.P. = Rs. 150
S.P. = Rs. 170
S.P. is greater than C.P. So, there will be profit.
∴ Profit = S.P. - C.P. = Rs. 170 - Rs. 150 = Rs. 20.

b. C.P. = Rs. 5,000, S.P. = Rs. 6,000
Solution:
Here,
C.P. = Rs. 5,000
S.P. = Rs. 6,000
S.P. is greater than C.P. So, there will be profit.
∴ Profit = S.P. - C.P. = Rs. 6,000 - Rs. 5,000 = Rs. 1,000.

c. C.P. = Rs. 215, S.P. = Rs. 350
Solution:
Here,
C.P. = Rs. 215
S.P. = Rs. 350
S.P. is greater than C.P. So, there will be profit.
∴ Profit = S.P. - C.P. = Rs. 350 - Rs. 215 = Rs. 135.

d. C.P. = Rs. 7,000, S.P. = Rs. 4,000
Solution:
Here,
C.P. = Rs. 7,000
S.P. = Rs. 4,000
C.P. is greater than S.P. So, there will be loss.
∴ Loss = C.P. - S.P. = Rs. 7,000 - Rs. 4,000 = Rs. 3,000.

e. C.P. = Rs. 750, S.P. = Rs. 560
Solution:
Here,
C.P. = Rs. 750
S.P. = Rs. 560
C.P. is greater than S.P. So, there will be loss.
∴ Loss = C.P. - S.P. = Rs. 750 - Rs. 560 = Rs. 190.

f. C.P. = Rs. 40,000, S.P. = Rs. 25,000
Solution:
Here,
C.P. = Rs. 40,000
S.P. = Rs. 25,000
C.P. is greater than S.P. So, there will be loss.
∴ Loss = C.P. - S.P. = Rs. 40,000 - Rs. 25,000 = Rs. 15,000.

g. C.P. = Rs. 1,615, S.P. = Rs. 1,516
Solution:
Here,
C.P. = Rs. 1,615
S.P. = Rs. 1,516
C.P. is greater than S.P. So, there will be loss.
∴ Loss = C.P. - S.P. = Rs. 1,615 - Rs. 1,516 = Rs. 99.

2. Find the cost price:

a. S.P. = Rs. 70 and Profit = Rs. 5
Solution:
Here,
S.P. = Rs. 70
Profit = Rs. 5
C.P. = ?
We know that,
Profit = S.P. - C.P.
So, Cost Price (C.P.) = S.P. - Profit = Rs. 70 - Rs. 5 = Rs. 65.

b. S.P. = Rs. 60 and Loss = Rs. 30
Solution:
Here,
S.P. = Rs. 60
Loss = Rs. 30
C.P. = ?
We know that,
Loss = C.P. - S.P.
So, Cost Price (C.P.) = S.P. + Loss = Rs. 60 + Rs. 30 = Rs. 90.

c. S.P. = Rs. 650 and Profit = Rs. 50
Solution:
Here,
S.P. = Rs. 650
Profit = Rs. 50
C.P. = ?
We know that,
Profit = S.P. - C.P.
So, Cost Price (C.P.) = S.P. - Profit = Rs. 650 - Rs. 50 = Rs. 600.

d. S.P. = Rs. 775 and Loss = Rs. 72
Solution:
Here,
S.P. = Rs. 775
Loss = Rs. 72
C.P. = ?
We know that,
Loss = C.P. - S.P.
So, Cost Price (C.P.) = S.P. + Loss = Rs. 775 + Rs. 72 = Rs. 847.

3. Find the selling price:

a. C.P. = Rs. 120 and Profit = Rs. 30
Solution:
Here,
C.P. = Rs. 120
Profit = Rs. 30
S.P. = ?
We know that,
Profit = S.P. - C.P.
So, Selling Price (S.P.) = C.P. + Profit = Rs. 120 + Rs. 30 = Rs. 150.

b. C.P. = Rs. 170 and Loss = Rs. 20
Solution:
Here,
C.P. = Rs. 170
Loss = Rs. 20
S.P. = ?
We know that,
Loss = C.P. - S.P.
So, Selling Price (S.P.) = C.P. - Loss = Rs. 170 - Rs. 20 = Rs. 150.

c. C.P. = Rs. 120 and Profit = Rs. 30
Solution:
Here,
C.P. = Rs. 370
Profit = Rs. 40
S.P. = ?
We know that,
Profit = S.P. - C.P.
So, Selling Price (S.P.) = C.P. + Profit = Rs. 370 + Rs. 40 = Rs. 410.

d. C.P. = Rs. 1,250 and Loss = Rs. 120
Solution:
Here,
C.P. = Rs. 1,250
Loss = Rs. 120
S.P. = ?
We know that,
Loss = C.P. - S.P.
So, Selling Price (S.P.) = C.P. - Loss = Rs. 1,250 - Rs. 120 = Rs. 1,100.

4. Find the profit and loss percentage.

a. C.P. = Rs.80 and S.P. = Rs. 60
Solution:
Here,
C.P. = Rs. 80
S.P. = Rs. 60
C.P. is greater than S.P. So, there will be loss.
Loss = ?
Loss % = ?
We know that,
Loss = C.P. - S.P. = Rs. 80 - Rs. 60 = Rs. 20.
∴ Loss percentage = Loss/C.P. x 100 = 20/80 x 100 = 25%.

b. C.P. = Rs.150 and S.P. = Rs. 120
Solution:
Here,
C.P. = Rs. 150
S.P. = Rs. 120
C.P. is greater than S.P. So, there will be loss.
Loss = ?
Loss % = ?
We know that,
Loss = C.P. - S.P. = Rs. 150 - Rs. 120 = Rs. 30.
∴ Loss percentage = Loss/C.P. x 100 = 30/150 x 100 = 20%.

c. C.P. = Rs.550 and S.P. = Rs. 600
Solution:
Here,
C.P. = Rs. 550
S.P. = Rs. 605
S.P. is greater than C.P. So, there will be profit.
Profit = ?
Profit % = ?
We know that,
Profit = S.P. - C.P. = Rs. 605 - Rs. 550 = Rs. 55.
∴ Profit percentage = Profit/C.P. x 100 = 55/550 x 100 = 10%.

d. C.P. = Rs.1,275 and S.P. = Rs. 1,200
Solution:
Here,
C.P. = Rs. 1,275
S.P. = Rs. 1,200
C.P. is greater than S.P. So, there will be loss.
Loss = ?
Loss % = ?
We know that,
Loss = C.P. - S.P. = Rs. 1,275 - Rs. 1,200 = Rs. 75.
∴ Loss percentage = Loss/C.P. x 100 = 75/1,275 x 100 = 5.88%.

5. Sharan bought a dozen of watches for Rs. 1,200 of each and sold it for Rs. 1,600 of each. Find his profit and profit percentage.
Solution:
Here,
Cost price for a watch = Rs. 1,200.
Cost price for 12 watches = Rs. 1,200 x 12 = Rs. 14,400.
∴ C.P. = Rs. 14,400
And, Selling price for a watch = Rs. 1,600.
Selling price for 12 watches = Rs. 1,600 x 12 = Rs. 19,200.
∴ S.P. = Rs. 19,200
Hence S.P. is greater than C.P. So, there will be profit.
Profit = S.P. - C.P. = Rs. 19,200 - Rs. 14,400 = Rs. 4,800.
∴ Profit Percentage = Profit/C.P. x 100 = 4,800/14,400 x 100 = 33.33%.

6. Rabindra bought 2 dozens of pens for Rs. 360. He sold a dozen pens for Rs. 144 and another dozen for Rs. 210. Calculate his profit or loss percentage.
Solution:
Here,
Cost price of 2 dozens pen = Rs. 360
∴ C.P. = 360
Selling price for 1 dozen pens = Rs. 144
And Selling price for another dozen pens = Rs. 210
Total selling price for 2 dozens pens = Rs. 144 + Rs. 210 = Rs. 354.
∴ S.P. = Rs. 354
Since C.P is greater than S.P., there will be loss.
We know that,
Loss = C.P. - S.P = Rs. 360 - Rs. 354 = Rs. 6.
∴ Loss percent = Loss amount/C.P. x 100 = 6/360 x 100 = 1.67%.

7. 4 chair were bought for Rs. 600 each. All the chairs were sold for Rs. 2,000. Find profit or loss percent.
Solution:
Here,
Cost price for a chair = Rs. 600.
Cost price for 4 chairs = Rs. 600 x 4 = Rs. 2,400.
∴ C.P. = Rs. 2,400
Selling price of all chairs = Rs. 2,000.
∴ S.P. = 2,000
Now, C.P. is greater than S.P. So, there will be loss.
We know that,
Loss = C.P. - S.P = Rs. 2,400 - Rs. 2,000 = Rs. 400.
∴ Loss percent = Loss amount/C.P. x 100 = 400/2,400 x 100 = 16.67%

8. A man purchased an article for Rs. 800 and sold it at 12% profit.
a) Find his profit amount.
b) Find the price at which the article was sold.
Solution:
Cost price (C.P.) = Rs.800
Profit percent = 12%
a) Here,
Profit amount = ?
We know that,
Profit percent = Profit amount/C.P x 100
Or, 12 = Profit amount/Rs. 800 x 100
Or, 12 x 800 = Profit amount x 100
Or, 12 x 800/100 = Profit amount
Or Profit amount = 12 x 800/100
Or Profit amount = 12 x 8
∴ Profit amount = Rs. 72.

b) Here,
S.P. = ?
We know that,
∴ S.P. = C.P + Profit amount = Rs. 800 + Rs. 72 = Rs. 872.

9. Roshan bought a camera for Rs. 20,000. He sold it at a profit of 20%. Find the selling price.
Solution:
Here,
C.P. = Rs. 20,000
Profit percent = 20%
S.P. = ?
We know that,
Profit percent = Profit amount/C.P. x 100
Or, 20 = Profit amount/Rs. 20,000 x 100
Or, 20 = Profit amount/Rs. 200
Or, 20 x 200 = Profit amount
∴ Profit amount = 200 x 20 = Rs. 4,000.
Now,
∴ S.P. = C.P. + Profit amount = Rs. 20,000 + Rs. 4,000 = Rs. 24,000.

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