**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:**