Profit and Loss – Maharashtra Board Class 7 Solutions for Mathematics

Profit and Loss – Maharashtra Board Class 7 Solutions for Mathematics (English Medium)

MathematicsGeneral ScienceMaharashtra Board Solutions

Exercise 56:

Solution 1:

If Cost price < Selling price, there is a Profit.
Profit = Selling price (S.P.) – Cost price (C.P.)
If Cost price > Selling price, there is a Loss.
Loss = Cost price (C.P.) – Selling price (S.P.)

1. Here, S.P. > C.P., hence there is a profit.
∴ Profit = S.P. – C.P. = Rs. (25 – 20) = Rs. 5
2. Here, C.P. > S.P., hence there is a loss.
∴ Loss = C.P. – S.P. = Rs. (24 – 18) = Rs. 6
3. Here, Profit = Rs. 10, S.P. = Rs. 40
∴ C.P. = S.P. – Profit = Rs. (40 – 10) = Rs. 30
4. Here, Loss = Rs. 15, C.P. = Rs. 50
∴ S.P. = C.P. – Loss = Rs. (50 – 15) = Rs. 35

	Cost Price (Rs.)	Selling Price (Rs.)	Profit (Rs.)	Loss (Rs.)
1.	20	25	5	—
2.	24	18	—	6
3.	30	40	10	10
4.	50	35	—	15

Solution 2:

Cost price, C.P. = Rs. 70
Selling price, S.P. = Rs. 90
Profit = Selling price – Cost price (= S.P. – C.P.)
∴ Profit made by Akshay = S.P. – C.P.
= Rs. (90 – 70)
= Rs. 20
Hence, Akshay made a profit of Rs. 20.

Solution 3:

Cost price, C.P. = Rs. 100
Selling price, S.P. = Rs. 120
If Cost price < Selling price, then there is a profit.
Here, Cost price, Rs. 100 < Selling price, Rs. 120
Hence, there is a profit.
Profit = Selling price – Cost price (= S.P. – C.P.)
∴ Profit made by Gulabbhai = S.P. – C.P.
= Rs. (120 – 100)
= Rs. 20
Thus, Gulabbhai made a profit of Rs. 20.

Solution 4:

Cost price of 1 dozen oranges = Rs. 40
∴ Cost price of 8 dozen oranges = Rs. (8 × 40) = Rs. 320
Selling price of 1 dozen oranges = Rs. 35
∴ Selling price of 8 dozen oranges = Rs. (8 × 35) = Rs. 280
Loss = Cost price – Selling price (= C.P. – S.P.)
∴ Loss to Ramzanbhai = C.P. – S.P.
= Rs. (320 – 280)
= Rs. 40
Hence, Ramzanbhai incurred a loss of Rs. 40.

Solution 5:

Cost price of 1 litre milk = Rs. 15
∴Cost price of 70 litres milk = Rs. (15 × 70) = Rs. 1050
Selling price of 70 litres milk = Rs. 1260
Here, Cost price < Selling price.
Hence, there is a profit.
Profit = Selling price – Cost price (= S.P. – C.P.)
∴ Profit made by Shakuntala = S.P. – C.P.
= Rs. (1260 – 1050)
= Rs. 210
Thus, Shakuntala made a profit of Rs. 210.

Solution 6:

Cost price of 1 pencil box = Rs. 30
∴ Cost price of 10 pencil boxes = Rs. (10 × 30) = Rs. 300
Selling price of 10 pencil boxes = Rs. 290
Here, Selling price < Cost price.
Hence, there is a loss.
Loss = Cost price – Selling price (= C.P. – S.P.)
∴ Loss to Shalaka = C.P. – S.P.
= Rs. (300 – 290)
= Rs. 10
Hence, Shalaka incurred a loss of Rs. 10.

Exercise 57:

Solution 1:

Solution 2:

Solution 3:

Exercise 58:

Solution 1:

Solution 2:

Solution 3:

Solution 4: