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E:\Working\Focus_Learning\Math_Genius_5_(05-10-2023)\Open_Files\CHAP_10
\\November 22, 2023 5:02 PM Surender Prajapati Proof 4 Reader _________________________ Date: ___________________74
Remember
The money earned in a transaction when the selling price is more than cost price is called profit.
The money lost when the cost price is more than the selling price is called loss.
example 3: Rohan bought a refrigerator for `19995 and sold it for `20599. Find his profit or loss.
Solution: CP of a refrigerator = `19995
SP of a refrigerator = `20599
Since SP > CP, there is a profit.
Since, Profit = SP – CP
= `20599 – `19995 = `604
Thus, Rohan earned a profit of `604.
example 4: Venu bought an old bicycle for `1848 and spent `552 on its repairing. Then
he sold it for `2000. Find his profit or loss.
Solution: CP of old bicycle = `1848
Cost on repairing = `552
Total CP of bicycle = CP + cost on repairing
= `1848 + `552 = `2400
CP of bicycle = `2400 Note
We have, SP < CP, there is a loss. Expenses besides the cost price,
which is added to get the total
Since, loss = CP – SP cost price, are called overhead
= `2400 – `2000 = `400 expenses e.g., cost on repairing
Thus, Venu suffered a loss of `400. the bicycle is overhead expense.
finding the Cost Price
In case of profit: To find the cost price (CP) when the profit earned and the selling
price (SP) are given, we use the following formula.
Cost price = Selling price – Profit
or CP = SP – P
In case of loss: To find the cost price (CP) when the loss (L) Note
beared and the selling price (SP) are given, we use the following Profit is also
formula. known as gain.
Cost price = Selling price + Loss
or CP = SP + L
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 expense and overheads
are always added to cost price.
Mathematics-5 205
