Class 7 Maths Comparing Quantities – Profit and Loss Examples

# Class 7 Maths Comparing Quantities – Profit and Loss Examples

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• Profit
• Loss
• Example
• Summary
• What’s Next?

In the previous segment, we had a look at Percentage Change to get back to the Original

Amount In this segment of the chapter ‘Comparing Quantities’, we will look at Profit and Loss.

## What is a Profit?

Profit is the amount gained when a product is sold at a price more than the cost price.

### What is Loss?

Loss is the amount lost when a product is sold at a price less than its cost price.

### Profit and loss – Example

Assume the total cost of a product is ₹ 100. If it is sold at ₹ 105, it means a profit of ₹ 5 is

If the product is sold at ₹ 95, it means a loss of ₹ 5 is suffered.

Summary

 Profit Profit is gained when a product is sold at a price more than the cost price. Loss Loss occurs when a product is sold at a price less than its cost price.

What’s next?

In our next segment of Class 07 Maths, we will have a look at cost price and selling price.

## Related content

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