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 2
Practice and Revision - Percentage (Including Profit and Loss and Discount)
Let us practise and revise what we learned about percentage (including profit and loss and discount). Percentages help calculate profit, los
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.