Page 115 - ICSE Math 7

(b) C.P. = Price + Transportation
= ` 250 + ` 50 = ` 300

As C.P. > S.P., therefore there is a loss.
Loss = C.P. – S.P.
= ` 300 – ` 200 = ` 100

Profit per cent
Profit per cent is the profit made on a cost price of ` 100. It is given by:

Profit% = Profit × 100%
Cost price

Loss per cent
Loss per cent is the loss made on a cost price of ` 100. It is given by:
Loss
Loss% = × 100%
Cost price

Example 2: Rahul buys 4 m cloth for ` 2,400 and sells the same cloth for ` 3,300. Find the profit
or loss per cent.
Solution: As C.P. < S.P., therefore there is a profit.
Profit = S.P. – C.P. = ` 3,300 – ` 2,400 = ` 900

Profit
\ Profit% = × 100%
Cost price
900 1
= × 100% = 37 %
2,400 2
Example 3: A carpenter sold a table for ` 3,588 and incurred a loss of 8%. Find the cost price of
the table.

Solution: Let the cost price of table be ` 100.
Loss = 8% of ` 100
= 8 × ` 100 = ` 8
100
As Loss = C.P. – S.P.
\ S.P. = C.P. – Loss

= ` 100 – ` 8 = ` 92
\ If S.P. is ` 92, then C.P. is ` 100.
 100
If S.P. is ` 1, then C.P. is `   .
 92 

 100 3 588× , 
If S.P. is ` 3,588, then C.P. is `   = ` 3,900.
 92 
\ C.P. of the table is ` 3,900.

Example 4: A shopkeeper bought a television for ` 22,000. He spent ` 1,200 on its repair and then
sold it at a profit of 16%. Find the selling price of the television.
Solution: C.P. of television = Price of television + Cost of repair
= ` 22,000 + ` 1,200 = ` 23,200

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