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.
∴ Profit = S.P. – C.P. = ₹325 – ₹250 = ₹75
Now Profit% = Profit/C.P. x 100
= 75/250 x 100 = 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.
∴ Profit = S.P. – C.P. = ₹13500 – ₹12000 = ₹1,500
Now Profit% = Profit/C.P x 100
= 1500/12000 x 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.
∴ Profit = S.P. – C.P. = ₹3,000 – ₹2,500 = ₹ 500
Now Profit% = Profit/CP x 100
= 500/2500 x 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.
∴ Loss = C.P. – S.P. =₹250 – ₹150 = ₹100
Now Loss% = Loss/C.P. x 100
= 100/250 x 100 = 40%
Therefore, Profit = ₹ 100 and Profit% = 40%

lass 7 Maths Chapter 8 Exercise 8.3

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