Profit and loss as a percentage — lesson. Mathematics CBSE, Class 7.

UPSKILL MATH PLUS

Learn Mathematics through our AI based learning portal with the support of our Academic Experts!

Mahesh bought a computer worth of \(₹\)5000, and he sold it to his friend on \(₹\)5590.

In this transaction, he will get \(₹\)590 as a profit.

But can you find the profit percentage of this transaction?

We can use this formula to find the profit percentage if we know the profit and cost price of the product.

Profit \(\% =\)

\frac{Profit}{Cost price} \times 100

\begin{array}{l} Profit % = \frac{590}{5000} \times 100 \\ Profit % = \frac{59000}{5000} \\ Profit % = 11.8 \end{array}

Therefore the profit percentage of this transaction is 11.8 \(\%\).

Measuring the profit or loss in terms of percentage is an easy and convenient method.

That is why most of the shop keepers are mention profit or loss of their product in percentage.

We can also apply the same concept to find the original rate of the product if a certain percentage discount is applied to that product.

We will see some exercises to understand this concept better.

Did you find an error?

5. Profit and loss as a percentage