MathsComparing QuantitiesProfit and LossClass 8 Maths Comparing Quantities – Profit and Loss

Class 8 Maths Comparing Quantities – Profit and Loss

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    • 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?

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