RS Aggarwal Solutions Class 7 Maths Chapter 11 Ex 11.1: You can ace your upcoming Class 7 Maths exam with RS Aggarwal Solutions Class 7 Maths. The solutions of RS Aggarwal Solutions Class 7 Maths Chapter 11 Ex 11.1 are very accurate and credible, all thanks to the subject matter experts.
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RS Aggarwal Solutions Class 7 Maths Chapter 11 Ex 11.1
RS Aggarwal Solutions Class 7 Maths Chapter 11 Ex 11.1 – Overview
Profit and Loss Percentage Concepts
- Cost Price: Cost price refers to the exact price of an item at which it has been purchased by us and can be represented as CP.
- Selling Price: Selling price refers to the exact price of an item at which it has been sold by the seller to its customers and can be represented as SP.
It is only while making the sale and purchase of an item, it can be estimated that whether the seller will have to face the profit or the loss.
Profit
A situation we call ‘Profit’ occurs when the cost price of an item is less than the selling price of the same item or in other words the selling price of an item is more than the cost price of the same item.
It means that S.P. > C.P.
The exact difference happening between the Selling Price and the Cost price of the same item, where the CP is greater than the SP can be referred to as Net Profit for the seller as stated beneath
Net Profit = S.P. – C.P.
Loss
A situation we call ‘Loss’ occurs when the selling price of an item is less than the cost price of the same item or in other words the cost price of an item is more than the selling price of the same item.
It means that S.P. < C.P.
The exact difference between the SP and the CP of the item, where the Cost price is greater than the selling price can be referred to as the Net Loss for the seller as stated beneath:
Net Loss = C.P. – S.P.
Calculating Loss Percentage
Loss% = (C.P−S.P)/C.P × 100
= Net Loss C.P × 100
Calculating Profit
Profit% = (S.P−C.P)/C.P × 100
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FAQs on RS Aggarwal Solutions Class 7 Maths Chapter 11 Ex 11.1
Define Loss.
A situation we call ‘Loss’ occurs when the selling price of an item is less than the cost price of the same item or in other words the cost price of an item is more than the selling price of the same item.
It means that S.P. < C.P.
Define Profit.
A situation we call ‘Profit’ occurs when the cost price of an item is less than the selling price of the same item or in other words the selling price of an item is more than the cost price of the same item.
It means that S.P. > C.P.
What is the Selling Price?
Selling price refers to the exact price of an item at which it has been sold by the seller to its customers and can be represented as SP.
How to calculate Loss percentage?
Loss% = (C.P−S.P)/C.P × 100
= Net Loss C.P × 100
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