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RS Aggarwal Solutions Class 7 Chapter-11 Profit and Loss (Ex 11B) Exercise 11.2

Last updated date: 03rd Mar 2024
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IVSAT 2024

Profit and Loss (Ex 11B) Exercise 11.2

Free PDF download of RS Aggarwal Solutions Class 7 Chapter-11 Profit and Loss (Ex 11B) Exercise 11.2 solved by Expert Mathematics Teachers on All Exercise 11.2 Questions with Solutions for Class 7 Math  RS Aggarwal to help you to revise the complete Syllabus and Score More marks. Register for online coaching for IIT JEE (Mains & Advanced) and other engineering entrance exams. You can also register Online for NCERT Class 7 Science tuition on to score more marks in your examination. Every NCERT Solution is provided to make the study simple and interesting on Vedantu.   

Profit and Loss (Ex 11B) Exercise 11.2

Summary Of Profit and Loss: Class 7 RS Aggarwal Chapter 11 

Profits and Loss, in a transaction, depends upon the cost and selling price of the commodity. In the case of profits, the selling price is more than the cost price, while it is the other way around for the losses. Profit and Loss is the value of the difference between cost price and selling price. Profit and Loss is not a new concept to the students as they had read about it before in previous classes. The chapter just goes further with the concept. The chapter starts with a recap of the previous year syllabus, then step by step increases the level of difficulty of the questions asked.

The chapter adds the concept of percentage to the concept of Profits and Losses and how to calculate the Profit/Loss percentage. The Important topics in chapter 11 (Profit and Loss) covers are - 

  • Definition of cost price (C.P.) and selling price (S.P.)

  • Calculation of Profit per cent and Loss per cent

  • Calculating profit and loss when Cost and Selling prices are given

  • Finding C.P. and S.P. when profit or Loss is given

  • Finding the percentage of profit and loss

  • Finding selling price when C.P. and profit or loss is provided

  • Finding cost price  when S.P. and profit or loss is provided

The chapter is divided into two exercises (Exercise 11 A and 11 B) and a sample test is given at the end. The second exercise, 11 B, contains 12 questions to be solved. The RS Aggarwal solutions for class 7 of chapter 11 has solutions to all these questions. The students can download a PDF file of these solutions for free.

FAQs on RS Aggarwal Solutions Class 7 Chapter-11 Profit and Loss (Ex 11B) Exercise 11.2

1. List down all the formulas used in chapter 11 exercise 11 B Profit and Loss of class 7.

As with any other math chapter, there are many formulas used in chapter 11 profit and loss of RS Aggarwal class 7. But the student should not worry as these formulas are not as hard as for any other chapter in math. Here is the list of all the formulas used in chapter 11 exercise 11.2 - 

  • Profit = Selling price - Cost price

  • Loss = Cost price - Selling price

  • Percentage of Profit = (Profit/Cost Price) 100

  • Loss Percent = (Loss/Cost Price) 100

  • S.P. = {(100 + P%)/100} × CP

  • S.P. = {(100 – L%)/100} × CP

  • C.P. = {100/(100 + P%)} × SP

  • C.P. = {100/(100 – L%)} × SP

2. How Many Questions are There in NCERT Ex 11B Class 7 RS Aggarwal? 

Students can find two exercises with a text paper, in the RS Aggarwal Class 7th chapter 11 of Profit and Loss, Exercise 11 A and 11 B. The first exercise contains 22 sums and in the second exercise, there are 12 problems included. The last exercise is the test paper with a total of 11 sums on the concept of profit and loss. The questions in exercise 11 B are pretty lengthy and it is common for students to make silly mistakes such as mistakes while calculating different things.

3. By selling a scooter for Rs. 13,800, Shyam gains 15%. Find the cost price of the scooter?

The Selling price of the scooter = Rs. 13,800

Profit gained by Shyam = 15%

By the formula  Cost price = C.P. = \[\frac{100}{100 + P%} \times SP\]

Cost price of the Scooter =  \[\frac{100}{100 + P%} \times SP\] =  \[\frac{100}{100 + 15} \times 13800\]

(After the calculations) Cost of the scooter = Rs 12000

Hence, Shyam must have purchased the scooter at the cost price of Rs 12000.

Many similar questions are given in the PDF of chapter 11 solutions given above for students to practice for their examinations.

4. What is the real-life application of chapter 11 Profit and Loss?

Calculating profits and losses is a common activity in modern human society, it is hard to imagine a world without the concept of profit and loss. The most crucial role of calculating profit and loss is in financial institutions and businesses. The company needs to calculate their profits and losses that occurred in the business to keep track of their finances.

For example, A shopkeeper bought a set of books at Rs 8000 and sold them all at the price of Rs 10000. By the formula of calculating profits,

 Profit = S.P. - C.P. = 10000 - 8000 = Rs 2000.

5. Is it beneficial to use RS Aggarwal chapter 11 solutions?

Yes, Class 7 RS Aggarwal chapter 11 exercise 11 B solutions will certainly be helpful to the students wanting to score better grades in the examination. All the solutions are curated by subject matter experts at Vedantu with consideration for the convenience of the students. The step-wise solutions offered in the chapter provide the student with a clear idea to understand the concepts of profit and loss in the best possible way. Students can also download the solutions to the questions of exercise 11 B free of charge from the official website of Vedantu. Students can verify and compare the answers and identify the mistakes, which will help them improve in the subject and build more confidence.