# Tell what is the profit or loss in the following transactions. Also find profit per cent or loss per cent in each case.

(a) Gardening shears bought for ₹250 and sold for ₹325.

(b) A refrigerater bought for ₹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.

**Solution:**

a) In this question gardening shears are bought for Rs. 250 and sold for Rs. 325.

Since selling price is greater thanthe cost price, so there is a profit.

Profit = Selling price - Cost price

= 325 – 250

= Rs. 75

Profit % = (Profit / Cost Price) ×100

= (75 / 250) ×100

= 750 / 25

= 30%

You can verify this by using a profit calculator.

b)In this question refrigerator was bought for Rs 12,000 and sold at Rs 13,500.

Since the selling price is greater than the cost price so there is a profit.

Profit = Selling price - Cost price

= 13500 - 12000

= Rs.1500

Profit% = (Profit / Cost Price) × 100

= 1500/12000 × 100

= 150000/12000

= 12.5%

c) In this question the selling price of cupboard is Rs. 3,000 and cost price is Rs. 2,500.

Since selling price is greater than cost price so there is profit

Profit = Selling price - Cost price

= 3000 - 2500

= Rs. 500

Profit % = (Profit / Cost Price) × 100

= 500/2500 ×100

= 20%

d) Cost price of the skirt is Rs. 250 and the selling price is Rs. 150.

Since, cost price is greater than selling price so there is a loss

Loss = Cost price - Selling price

= 250 – 150

= Rs. 100

Loss% = (Loss / Cost Price) × 100

= 100/250 ×100

= 40%

**☛ Check: **NCERT Solutions for Class 7 Maths Chapter 8

**Video Solution:**

## Tell what is the profit or loss in the following transactions. Also find profit per cent or loss per cent in each case. (a) Gardening shears bought for ₹250 and sold for ₹325. (b) A refrigerater bought for ₹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.

Class 7 Maths NCERT Solutions Chapter 8 Exercise 8.3 Question 1

**Summary:**

The profit or loss in the following transactions along with the profit per cent or loss per cent in each case (a) Gardening shears bought for ₹250 and sold for ₹325. (b) A refrigerater bought for ₹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. are a) Profit = Rs. 75, Profit% = 30%, b) Profit = Rs. 1500, Profit% = 12.5%, c) Profit = Rs. 500, Profit% = 20%, d) Loss = Rs.100, Loss% = 40%.

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