Class 8 Maths Comparing Quantities – Profit and Loss

Table of Contents

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

In the previous segment, we had a look at Percentages. 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

made.

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?