Worksheet

Profit and Loss Worksheet

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‘Profit’ and ‘Loss’ are two terms that are used to identify whether a transaction is profitable or not. If the cost price is greater than that of the selling price, it is known as a loss. Likewise, if the selling price is greater than the cost price, it is known as a profit.

 

  • The cost price is the price at which the item is bought. 
  • The selling price is the price at which the item is sold. 
  • For example, Ram buys an article at $5 and sells it at $10. Here, $5 is the cost price and $10 is the selling price.
Grade 7
Signed Number Operations

Teaching Profit and Loss Easily 

 

  • Firstly, identify the cost price and selling price. 
  • Secondly, deduct the cost price from the selling price. 
  • If the answer comes in negative, it signifies that the transaction is negative, i.e., a loss. If the answer comes positive, it means that the transaction is positive, i.e., a profit.

                                        Profit Formula = Selling Price - Cost Price 

                                        Loss Formula = Cost Price - Selling Price 



 

 

 

Here is an example to solve the problem of profit and loss. 


 

Suppose, Rames...

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