Concise Mathematics Class 7 ICSE Solutions for Chapter 9 - Profit, Loss and Discount

Solved problems presented in Selina Concise Mathematics Class 7 ICSE Solutions for Chapter 9 - Profit, Loss, and Discount will help students understand the method of solving them. The solutions have shortcut methods and important formulas are in simple language for the students from ICSE Class 7. Selina Concise Mathematics Class 7 ICSE Solutions for Chapter 9 - Profit, Loss and Discount, PDF link is given here for free download to practice and improve conceptual knowledge among students.

Benefit from Vedantu’s Selina Concise Mathematics Class 7 ICSE Solutions for Chapter 9 - Profit, Loss, and Discount while doing exam preparation for Maths. With the help of these Selina Concise Mathematics Solutions designed by faculty having vast conceptual knowledge of Mathematics, students can clear their doubts with ease.

Profit Loss and Discount

Profit and Loss formulas are used to determine the price of a commodity in the market and understand how profitable a business is. Every product has a specific defined cost price and selling price. Based on the values of these cost prices and selling prices, we can calculate the profit gained or the loss for a particular product. The important problems are covered on the topic cost price, fixed, variable and semi-variable cost, selling price, marked price, list price, margin, etc. 

Let us learn some important terms and formulas for profit and loss in terms of cost price and selling price.

Profit(P)

The amount received by selling a product with more than its cost price.

Loss(L)

The amount, the seller loses after selling the product less than its cost price, is mentioned as a loss.

Cost Price (CP)

The price at which the item is purchased by the seller is known as the cost price. It is given by CP.

Selling Price (SP)

The price at which the item/good can be sold by the seller is known as the selling price. It is denoted or given by SP.

Profit Percentage

If the cost price of an item is less than the selling price there is a profit achieved by the seller.

               SP > CP

Net Profit

The net profit is the difference between the selling price and cost price.

             Net Profit = SP - CP

Profit Percentage Formula

Profit% = \[\frac{SP - CP}{CP}\] x 100

  =  \[\frac{Net \; Profit}{CP}\] x 100

Loss Percentage

If the cost price of the item is more than the selling price of the item, then the seller goes in loss and the item is said to be sold at a loss.

             SP < CP

Net Loss

Net Loss is the difference between the cost price and selling price.

              Net Loss = CP - SP

Loss Percentage Formula

Loss% = \[\frac{CP - SP}{CP}\] x 100

 =  \[\frac{Net \; Loss}{CP}\] x 100

Why Refer Vedantu ICSE Selina Solutions

Students can refer to Vedantu's ICSE Selina Solutions pdf for class 7 chapter 9 are explained in a proper step wise format in a simple language.  

Some of the Important Features of Vedantu Selina ICSE Solutions Are

1. The solutions are explained in simple language and step wise format.

2. Focuses on the basic principles, terms, facts, and applications on various concepts which are important from an examination point of view. 

3. Difficult problems are split up into smaller sections to make it easier to understand.

4. Alternative methods of difficult questions are explained in-depth for a better understanding of concepts. Extra questions are provided to test your preparation level.

5. Vedantu provides necessary diagrams, charts, tables, and images making it conceptually clear.

6. Vedantu ICSE study materials contain all the necessary tips helpful for accurate solutions based on the latest syllabus.

The Vedantu ICSE Solutions are available in PDF format to help the students download these free study material to refer offline as well. The topic-wise ICSE solutions can be downloaded from the links given below.

These solutions for Class 7 ICSE will help you to score good marks in ICSE Exams 2020-21. The updated Vedantu solutions for Selina textbooks are prepared based on the latest syllabus. These are provided by Vedantu in a stepwise manner to help the students get a thorough knowledge of all the fundamentals.

Conclusion

Selina Concise Mathematics Class 7 ICSE Solutions simplify concepts so that students can understand how to solve complex Math problems accurately. This set of Selina Concise Mathematics Solutions is considered one of the best reference study materials for Maths revision. So, students! Do a thorough revision of Chapters and get ready to ace your exam.