Page 193 - Math Genius C5

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Example 2: Riya, a shopkeeper, bought a frock for `450 and sold it for `390. Did she earn
a profit or incur a loss? Also, find the profit or loss.

Solution: CP of a frock = `450
SP of a frock = `390
Clearly, SP < CP, as `390 < `450.

So, Riya incurred a loss.

Loss = CP – SP = `450 – `390 = `60
Thus, Riya incurred a loss of `60.

Math Insight

Š The money earned in a transaction when the selling price is more than the cost price is called
profit.
Š The money lost when the cost price is more than the selling price is called loss.

Example 3: Rohan bought a refrigerator for `19,995 and sold it for `20,599. Find his profit or
loss.

Solution: CP of a refrigerator = `19,995
SP of a refrigerator = `20,599

Since SP > CP, there is a profit.
Profit = SP – CP

= `20,599 – `19,995 = `604
Thus, Rohan earned a profit of `604.

Example 4: Venu bought an old bicycle for `1848 and spent `552 on its repair. Then he
sold it for `2000. Find his profit or loss.

Solution: CP of old bicycle = `1848

Cost of repairs = `552
Total CP of bicycle = CP + Cost of repairs
Be Aware
= `1848 + `552 Expenses besides the cost
= `2400 price, which are added to get

CP of bicycle = `2400 the total cost price, are called
overhead expenses. E.g., the
We have SP < CP, so there is a loss. cost of repairing the bicycle is

Loss = CP – SP an overhead expense.
= `2400 – `2000 = `400

Thus, Venu suffered a loss of `400.

Teacher’s Discuss with the children by giving some more examples that often, before selling the goods, a shopkeeper
Tip or a person spends some money as an additional expense to the cost price. Overhead expenses or overheads
are always added to the cost price.
True Cost Price = Buying Price + Overhead Expenses

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