Question

Tell what is the profit or loss in the following transactions. Also
(a) A refrigerator bought for Rs. 15,000 and sold at Rs 16,500.
(b) Gardening shears bought for Rs 500 and sold for Rs. 625.
(c) A skirt bought for Rs 250 and sold at Rs 150.
(d) A cupboard bought for Rs 2,500 and sold at Rs 2,000.​

Answer 1

S O L U T I O N :

Profit or loss :

As we know that formula of the loss & profit;

Profit = Selling price - Cost price

Loss = Cost price - Selling price

A/q

Given :

• a. Cost price of refrigerator = Rs.15000
• Selling price = Rs.16500

We get profit in this condition so,

Profit = S.P. - C.P.

Profit = Rs.16500 - Rs.15000

Profit = Rs.1500

Given :

• b. Cost price of gardening shears = Rs.500
• Selling price = Rs.625

We get profit in this condition so,

Profit = S.P. - C.P

Profit = Rs.625 - Rs.500

Profit = Rs.125

Given :

• c. Cost price a skirt = Rs.250
• Selling price = Rs.150

We get loss in this condition so,

Loss = Cost price - Selling price

Loss = Rs.250 - Rs.150

Loss = Rs.100

Given :

• d. Cost price of cupboard = Rs.2500
• Selling price = Rs.2000

We get loss in this condition so,

Loss = Cost price - Selling price

Loss = Rs.2500 - Rs.2000

Loss = Rs.500

Answer 2

(a) Profit = Rs.1500

(b) Profit = Rs.125

(c) Loss = Rs.100

(d) Loss = Rs.500

Question :-

What is the profit or loss in the following transactions :-

(a)Given :-

(a) A refrigerator bought for Rs.15,000 and sold at Rs.16,500.

The given transaction can be justified as profit transaction.

Formula Applied :-

$profit = selling \: price - cost \: price$

Solution :-

$profit = 16500 - 15000 \\ profit = 1500$

(b)Given :-

(b) Gardening shears bought for Rs.500 and sold for Rs.625.

The above transaction can be justified as profit transaction.

Formula Applied :-

$profit = selling \: price - cost \: price$

Solution :-

$profit = 625 - 500 \\ profit = 125$

(c)Given :-

(c) A skirt bought for Rs.250 and sold at Rs.150.

The above transaction can be justified as loss transaction.

Formula Applied :-

$loss = cost \: price - selling \: price$

Solution :-

$loss = 150 - 250 \\ loss = 100$

(d)Given :-

(d) A cupboard bought for Rs.2,500 and sold at Rs.2,000.

The above transaction can be justified as loss transaction.

Formula Applied :-

$loss = cost \: price - selling \: price$

Solution :-

$loss = 2500 - 2000 \\ loss = 500$

Explore More :-

What is profit ?

In any of the transactions the amount of money gained by the person more than it's actual price is called profit.

What is loss ?

In any of the transactions the amount of money losses by the person lower than the product's actual price is called loss.

How to calculate profit ?

We can calculate the profit by reducing the actual price From the selling price

Profit = Selling price - Cost price

How to calculate the loss ?

We can calculate the loss by reducing the sold price of the product from it's Actual price.

Loss = Cost price - Selling price