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Learning by Doing

objective: To identify the numeric values for the cost price, selling price,
overhead expenses, marked price, profit, loss, discount, VAT and GST in
word problems.
Materials Required: Sets of cards with word problems written on them, chart paper and

markers
Note: Before the activity, the teacher will create sets of cards with word problems involving
buy and sale scenarios written on them. Give each word problem a number.

This small-group activity will help students identify variables present in word problems
related to business and trade.
Procedure:

• The teacher will discuss a real-life problem involving profit and loss, discount and
taxes. She/he will also explain the steps of the activity using this problem and write the
associated formulae on the board.
• She/he, will divide the class into teams, and provide each team with chart paper, markers,
and a set of word problem cards.

• Each team should divide their chart paper into columns for the variables: cost price,
selling price, overhead expenses, marked price, profit, loss, discount, VAT and GST. Also,
they should create a column for the number of each word problem card.

• With the teacher says ‘START’, the teams will read each word problem and categorise the
numbers in the word problems under the correct variable on their chart paper.
For example, in the word problem:

The cost of making two tables is `5,000. A store owner marked the price of each table as
`3,000 and sold each table at a discount of 5%. Calculate the discount, selling price of
each table and profit or loss.

Students are expected to label `5,000 as CP for two tables, `3,000 as MP for one table and
5% as rate of discount. They need to determine the discount, selling price of each table
and profit or loss.
• The first team to correctly categorise the variables from their word problems wins.

Discuss:
• Why is it important to identify what numbers represent different variables in a profit
and loss problem?

• Were there any problems in which it was difficult to figure out what numbers were the
cost price, selling price, overhead expenses, marked price, profit, loss, discount, VAT
and GST?

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