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Profit and Loss formulas for class 5th students

1. Profit: If the Selling Price (SP) is greater than the Cost Price (CP), then the difference between the two is the profit. Profit = Selling Price (SP) - Cost Price (CP)

2. Loss: If the Cost Price (CP) is greater than the Selling Price (SP), then the difference between the two is the loss. Loss = Cost Price (CP) - Selling Price (SP)

3. Profit Percentage: To find the profit percentage, divide the profit by the Cost Price (CP) and multiply by 100. Profit Percentage = (Profit / Cost Price) × 100

4. Loss Percentage: To find the loss percentage, divide the loss by the Cost Price (CP) and multiply by 100. Loss Percentage = (Loss / Cost Price) × 100

5. Selling Price (SP) when Profit or Loss Percentage is given: If Profit Percentage is given: Selling Price (SP) = Cost Price (CP) × (1 + (Profit Percentage / 100))

If Loss Percentage is given: Selling Price (SP) = Cost Price (CP) × (1 - (Loss Percentage / 100))

6. Cost Price (CP) when Profit or Loss Percentage is given: If Profit Percentage is given: Cost Price (CP) = Selling Price (SP) / (1 + (Profit Percentage / 100))

If Loss Percentage is given: Cost Price (CP) = Selling Price (SP) / (1 - (Loss Percentage / 100)

word problems on profit and loss for class 5 ( for extra practice)

1. Ramesh bought a toy for ₹250 and sold it for ₹300. Calculate the profit he made and the profit percentage.

2. Sunita purchased a dress for ₹1,500 and sold it at a loss of 10%. Find the selling price of the dress.

3. Rohan bought a cricket bat for ₹900 and sold it at a profit of 15%. Calculate the selling price and the profit he made.

4. Rekha bought a pen for ₹20 and sold it for ₹18. Calculate the loss and the loss percentage.

5. Amit purchased a book for ₹120 and sold it at a profit of 25%. Find the selling price of the book.

6. Pooja bought a bag for ₹450 and sold it at a loss of 5%. Calculate the selling price and the loss.

7. A shopkeeper bought a box of chocolates for ₹300. He sold the box at a profit of 20%. Calculate the selling price of the box of chocolates.

8. Rajesh purchased a bicycle for ₹2,500 and sold it for ₹2,200. Calculate the loss and the loss percentage.

   
   

   Profit and Loss Class 5th extra questions and answers

   1. Question: A toy costs ₹180, and the shopkeeper sells it at a profit of 25%. Find the selling price of the toy.

   Solution: First, we'll find the profit. Profit Percentage = 25% Profit = (25% of ₹180) = (25/100) × 180 = ₹45

   Now, we'll find the Selling Price (SP).

   Selling Price (SP) = Cost Price (CP) + Profit SP = ₹180 + ₹45 = ₹225

   The selling price of the toy is ₹225.

   2. Question: A book is sold for ₹200 at a loss of 20%. What is the cost price of the book?

   Solution: We'll find the Cost Price (CP) using the formula: CP = Selling Price (SP) / (1 - (Loss Percentage / 100))

   Loss Percentage = 20% CP = ₹200 / (1 - (20/100)) CP = ₹200 / (1 - 0.2) CP = ₹200 / 0.8 CP = ₹250

   The cost price of the book is ₹250.

   3. Question: A fruit seller buys oranges at ₹50 per kg and sells them at a profit of 10%. Calculate the selling price per kg of the oranges.

   Solution: We'll find the Selling Price (SP) using the formula: SP = Cost Price (CP) × (1 + (Profit Percentage / 100))

   Profit Percentage = 10% SP = ₹50 × (1 + (10/100)) SP = ₹50 × (1 + 0.1) SP = ₹50 × 1.1 SP = ₹55

   The selling price per kg of the oranges is ₹55.

   FAQs

   1. What is profit and loss in mathematics?

   In mathematics, profit refers to the amount earned when the selling price of a product or service is higher than its cost price. Loss occurs when the selling price is lower than the cost price. Profit and loss are essential concepts taught in class 5 to help students understand basic financial transactions and problem-solving in real-life situations.

   2. What is the cost price (CP) and selling price (SP)?

   The cost price (CP) is the amount at which a product or service is purchased, while the selling price (SP) is the amount at which it is sold. The difference between the selling price and the cost price determines whether a profit or loss occurs in a transaction.

   3. How do you calculate the profit or loss percentage?

   To calculate the profit percentage, divide the profit by the cost price (CP) and multiply by 100. Similarly, to calculate the loss percentage, divide the loss by the cost price (CP) and multiply by 100.

   4. How can I find the selling price if I know the cost price and profit or loss percentage?

   To find the selling price when the profit percentage is given, use the formula: Selling Price (SP) = Cost Price (CP) × (1 + (Profit Percentage / 100))

   To find the selling price when the loss percentage is given, use the formula: Selling Price (SP) = Cost Price (CP) × (1 - (Loss Percentage / 100))

   5. How can I find the cost price if I know the selling price and profit or loss percentage?

   To find the cost price when the profit percentage is given, use the formula: Cost Price (CP) = Selling Price (SP) / (1 + (Profit Percentage / 100))

   To find the cost price when the loss percentage is given, use the formula: Cost Price (CP) = Selling Price (SP) / (1 - (Loss Percentage / 100))

   6. Why is it essential to learn about profit and loss in class 5?

   Learning about profit and loss in class 5 is crucial because it forms a foundation for more advanced mathematical concepts. Moreover, understanding profit and loss helps students develop problem-solving skills and apply their mathematical knowledge to real-life situations.