Q1
How is profit percentage calculated?
A(Profit ÷ Cost Price) × 100
B(Cost Price ÷ Profit) × 100
CProfit + Cost Price
DProfit - Cost Price
ICSEClass 7 (ICSE)MathematicsCh 8 · Topic 1
Percentage (Including Profit and Loss and Discount)
Percentages help calculate profit, loss, and discounts in business transactions, showing gains or reductions as a percentage of the original
Core concept
Profit percentage is calculated as (Profit ÷ Cost Price) × 100, showing how much profit was made relative to the cost.
How it works
Loss percentage is calculated as (Loss ÷ Cost Price) × 100, showing how much was lost relative to the cost.
Why it matters
A discount is a reduction in price, calculated as a percentage of the original (marked) price, like a 20% discount on ₹500 saving ₹100.
Key detail
Understanding these percentage calculations helps us make informed decisions when buying, selling, or running a business.
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Quick notes
• Profit % = (Profit ÷ Cost Price) × 100.
• Loss % = (Loss ÷ Cost Price) × 100.
• Discount is a percentage reduction in price.
• 20% discount on ₹500 saves ₹100.
• These calculations apply to business.
• They help make informed buying decisions.
• They help make informed selling decisions.
• Percentage skills apply to real transactions.