## Profit and Loss in Mathematics

The price paid to the supplier or wholesale supplier by a shopkeeper is called the cost price, which includes all costs, such as transport repair work, etc.

The price at which the shopkeeper sells his products is called the selling price.

To calculate profit, we have to put the selling price higher than the cost price and to calculate the profit.

**Formulae to calculate profit:-**

**Profit = Selling price – cost price**

If the cost price is higher than the selling price this means that you have a loss

**Formulae to calculate loss:-**

**Loss = Cost price – Selling price**

**Formulae to calculate profit percentage:-**

If you want to calculate the profit in percentage form then we use the formula

**Profit % = Profit / Cost price * 100**

**Formulae to calculate loss percentage:-**

If you want to calculate the loss in percentage form then we use the formula

**Loss % = Loss / Cost price * 100**

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**Examples of Profit & Loss**

- A fruit shopkeeper sold bananas at Rs. 30 per Dozen. If his cost price was Rs. 20, find his profit.

Solution:-

Selling price of 1 dozen bananas = Rs. 30

Cost Price of 1 dozen bananas = Rs. 20

As per formulae

**Profit = selling price (S.P.) – cost price (C.P.)**

Profit = 30 – 20 = 10

For 1 dozen Bananas the shopkeeper got a profit of Rs 10.

- Shanaya bought a DVD Player for rupees 1500.00 if the shopkeeper made a profit of rupees 250 then what is the cost price of DVD Player.

**Solution:-**

DVD Player cost = 1500

Profit made = 250

Formulae to calculate Cost Price:-

**Cost price [C.P.] = Selling Price [S.P.] – Profit**

C.P. = 1500 – 250

C.P. = 1250

Therefore the cost price of DVD writer is Rs. – 1250.

- A man buys 50 Kg Rice bag at Rs. 650.00 and sells the same at 600 Rs. Calculate the loss and loss percentage.

**Solution:-**

Cost price of rice bag = 650.00

Selling price of rice bag = 600.00

To calculate loss:-

**Loss = Cost price – Selling price**

= 650 – 600

= 50

Shopkeeper has a loss of Rs. 50

To calculate loss percentage:-

**Loss % = Loss / Cost price * 100**

Loss % = 50 /650 * 100

Loss % = 7 % is the loss in percentage.

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- Meeta sold a Wardrobe for rupees 15,000 at a profit rupees 3,000. Find the price at which she bought it. Also calculate the profit percentage.

Solution:

Here, S.P = 15,000

Profit = 3,000

C.P = S.P – Profit

= 15,000 – 3,000

= Rupees 12,000

**Profit % = Profit / Cost price * 100**

= 3000/12000 * 100

= 25 %