RS Aggarwal Class 8 Mathematics Solutions for Chapter-10 Profit and Loss

1. Exercise (Ex 10A) 10.1

2. Exercise (Ex 10B) 10.2

3. Exercise (Ex 10C) 10.3

4. Exercise (Ex 10D) 10.4

Important Topics to Practice from RS Aggarwal Solutions Class 8 Maths Chapter 10 Profit and Loss

• A brief explanation of What is Profit and What is Loss.

• Computing Cost Price.

• Computing Selling Price.

• Computing  Profit %.

• Computing loss %.

• Calculating Value-added Tax (VAT).

What is Profit and What is Loss?

Profit is simply the gain an individual acquires from any business activity when the Selling Price is more than the Cost Price.

When S.P > C. P

S.P - C.P = Profit

Loss occurs when an individual sells an item at a price less than the buying price or the cost price.

When C.P > S.P

C.P - S.P = Loss

Computing the Cost Price

• If we have the Selling Price of an article and gain on its selling then,

                 Cost Price = Selling Price - Gain

• If we have the Selling Price of an article and loss on its selling then,

                  Cost Price = Selling Price + Loss

Computing the Selling Price

•  If the Cost Price of an article and gain on its selling are given, the Selling Price of the article will be the sum of its Cost Price and gain.

                 Selling Price = Cost Price + Gain

• If we have the Cost Price of an article and loss on its selling then,

                 Selling Price = Cost Price - Loss

Calculating the Profit Percentage

Profit percentage can be calculated easily by the formula.

Profit % = (Profit/C.P x 100)%

Selling Price and Cost Price can also be Calculated using the data given

The formula is,

Selling Price = (100 + Profit%) / 100 × CP

Cost Price = 100/ (100 + gain %) × Cost Price

Question: Shopkeeper buys watches in a large number for Rs. 20 each. He sells those watches for Rs. 45 each. Calculate the profit and the profit percentage.

Solution: The selling price of the watch = Rs. 45

The costs output price of the watch = Rs. 20

Now, Profit = Selling Price - Cost Price

Profit gained from the watch = 45 - 20 = Rs. 25

Using the formula for profit percentage,

Profit % = (Profit / C.P.) × 100

The Percentage of Profit for the Shopkeeper will be= (25 / 20) × 100 = 1.25 × 100 = 125%.

Calculating Loss Percentage

Loss Percentage can easily be calculated using the formal given below:

Loss % = (loss/ CP × 100)%

You can also calculate the Selling Price and Cost Price of the article from the data given to you

Selling Price = (100 - loss %) /100 × CP

Cost Price = 100 /(100 - loss %) × SP

Question: A man reduces the price of a house from Rupees Fifteen lakhs to Rupees Twelve lakhs. Find the percentage of decrease.

Solution: Original price = Rs 15,00,000

Change in price = Rs 12,00,000

The Price Decreased by = 15,00,000 - 12,00,000 = Rs. 3,00,000

The percentage which decreased = (3,00,000)/(15,00,000) × 100 = 20%.

Calculating Value Added Tax (VAT)

VAT to be paid to the Government = (Output VAT- Input VAT)

• Output VAT = The tax charged on the sale of goods is called Output VAT. Output VAT is charged on the selling price of the goods.

• Input VAT = The tax paid on the purchase of goods is called Input VAT. The output VAT is paid at the cost price of the goods.

Preparation Tips

1. First, go through the chapter thoroughly and cover all the topics.

Students are advised to read the chapter properly line by line in order to understand the basic concepts that have been explained. The subtopics should be paid more attention to because the deeper the subject stretches, the complex the topics become. Thus, it is really important that the students cover all the topics of the chapter and understand them in reading first.

2. Note down all the important formulae and try to learn them.

Taking one’s own notes is of utmost importance as it will help the students remember the areas that they have confusion in, as well as the areas that need more focus. Notes should be made clearly and legibly so that the students can skim through the pages even during break time and retain little details of the chapter. The formulae should be written pointwise, so it is easier for them to remember.

3. Start solving the exercise questions without any guidance from anyone.

Once they have understood the chapter and taken respective notes, the student should try to move to the end of the chapter and solve the questions that are asked. These questions will be based on their understanding of the whole lesson and thus, prove to be beneficial in order to test their comprehension. The student should first try to solve these questions without any guidance from any teacher, friend or parent in order to check their grasp over the chapter.

4. Try the questions at least 3 times if you are unable to solve them.

If the student is stuck on a point, it is advisable to go through the chapter once again. If doing so does not help, they can run through their notes as well in order to remember the formulae that have been noted down previously. If they are unsuccessful in solving the question even then, they should go for help. It is not a big deal if students cannot solve the questions right away, because after immediate learning, comes the part where students will learn after committing errors. Thus, for their help, we have provided the solutions.

5. Seek help from Vedantu’s solution to check your answers and solve the ones that you were unable to solve.

Vedantu’s website has a truckload of educational materials and study resources. One among them is the Solutions to RS Aggarwal Maths problems that are presented in the book. Our experts have carefully curated these solutions to help our students in clearing their doubts and conceptions about the numerous sums and questions that they get stuck on. Head over to the link provided above and select your options from the drop-down menu.