The RD Sharma solution class 7 for Profit and Loss is given here. When a person does a business transaction such as selling goods and if that person loses some amount of money than it is termed as a loss and suppose if that person gains some money then it is termed as profit.
Where selling price is the price at which goods are sold. Cost price is a price at which goods are purchased. Loss and profit are always calculated based on the cost price
Loss = Cost Price – Selling Price and Profit = Selling Price – Cost Price
Example: The cost price (CP) of 20 apples is the same as the selling price (SP) of x apples. If the profit is 25%, then the what is the value of x?
Solution: Let the CP of each apple be Re. 1
So, C.P. of x apples = Rs. x. and S.P. of x apples = Rs. 20.
Profit = Rs. (20 – x).
Or, 2000 – 100x = 25x i.e. 125x = 2000
i.e. x = 16. Therefore the value of x is 16.
|Chapter 12 Profit and Loss|
|Profit and Loss Exercise 12.1|