Std 6 Mathematics · Chapter 12

12. Profit and Loss

Solutions to Practice Set 12.1, Practice Set 12.2 and Exercise 12. Maharashtra State Board (Balbharati), Grade Six Mathematics.

About the chapter

A shopkeeper buys goods and then sells them. The price at which he buys is the cost price. The price at which he sells is the selling price. In this chapter, we learn to find profit and loss. We also find the total cost price when there are other expenses.

Key points

If the selling price is more than the cost price, there is a profit.
If the selling price is less than the cost price, there is a loss.
Expenses like transport and repairs are added to the cost price.
Purchase price + other expenses = total cost price.

Formulas and terms

Cost price (C.P.) – the price at which a thing is bought.
Selling price (S.P.) – the price at which a thing is sold.
Profit = S.P. − C.P. Loss = C.P. − S.P.
S.P. = C.P. + Profit S.P. = C.P. − Loss
C.P. = S.P. − Profit C.P. = S.P. + Loss

Practice Set 12.1

1Complete the table.

Ex.	Cost price (₹)	Selling price (₹)	Profit or Loss	How much? (₹)
i.	650	720	Profit	720 − 650 = 70
ii.	1,390	1,215	Loss	1,390 − 1,215 = 175
iii.	2,750	2,560	Loss	2,750 − 2,560 = 190
iv.	8,195	8,266	Profit	8,266 − 8,195 = 71

2A shopkeeper bought 150 kg of organic jaggery for ₹7,500 and sold it for ₹8,250. How much profit did he make?

Cost price = ₹7,500
Selling price = ₹8,250
Selling price is more than cost price. So, there is a profit.
Profit = S.P. − C.P. = 8,250 − 7,500 = ₹750

The shopkeeper made a profit of ₹750.

3Rakhma bought 72 bunches of coriander for ₹864. Of them 8 were spoiled. She sold the rest at ₹15 each. Profit or loss? How much?

Cost price of 72 bunches = ₹864
Bunches sold = 72 − 8 = 64
Selling price = 64 × 15 = ₹960
Selling price is more than cost price. So, there is a profit.
Profit = 960 − 864 = ₹96

Rakhma made a profit of ₹96.

410 women of a self-help group spent ₹20,000 to make papads and earned ₹26,500. From the profit ₹1,500 was given for school material, and the rest was shared equally.

i) Total cost to prepare papads = ₹20,000
ii) Total amount received from the sale = ₹26,500
iii) Profit = 26,500 − 20,000 = ₹6,500
iv) Money given for social work = ₹1,500
v) Amount left for distribution = 6,500 − 1,500 = ₹5,000
vi) Amount each member received = 5,000 ÷ 10 = ₹500

5Taking the purchase price as ₹1,860, frame and solve one example for profit and one for loss.

(i) Example for profit

Sameer bought a cycle for ₹1,860. He sold it for ₹2,100. Did he make a profit or a loss? How much?

C.P. = ₹1,860, S.P. = ₹2,100
S.P. > C.P. So, there is a profit.
Profit = 2,100 − 1,860 = ₹240

(ii) Example for loss

Sameer bought a cycle for ₹1,860. He sold it for ₹1,700. Did he make a profit or a loss? How much?

C.P. = ₹1,860, S.P. = ₹1,700
S.P. < C.P. So, there is a loss.
Loss = 1,860 − 1,700 = ₹160

Practice Set 12.2

1Iqbal bought an old car for ₹2,75,000 and spent ₹65,000 on repairs. He sold it for ₹3,89,000. Profit or loss? How much?

Total cost price = Purchase price + Repair cost
= 2,75,000 + 65,000 = ₹3,40,000
Selling price = ₹3,89,000
S.P. > C.P. So, there is a profit.
Profit = 3,89,000 − 3,40,000 = ₹49,000

Iqbal made a profit of ₹49,000.

2Kusum spent ₹4,750 on sacks and lost ₹450 by selling them. For how much did she sell them?

Cost price = ₹4,750
Loss = ₹450
Selling price = C.P. − Loss = 4,750 − 450 = ₹4,300

Kusum sold the sacks for ₹4,300.

3Sara earned ₹1,285 by selling painting materials and made a profit of ₹375. What was the purchase price?

Selling price = ₹1,285
Profit = ₹375
Cost price = S.P. − Profit = 1,285 − 375 = ₹910

The purchase price was ₹910.

4Priya spent ₹2,505 on materials and ₹455 on packing, and sold all the handicrafts for ₹3,480. Profit or loss? How much?

Total cost price = 2,505 + 455 = ₹2,960
Selling price = ₹3,480
S.P. > C.P. So, there is a profit.
Profit = 3,480 − 2,960 = ₹520

Priya made a profit of ₹520.

5Taking the selling price as ₹1,355, frame and solve one profit example and one loss example.

(i) Example for profit

Vaishali bought bangles for ₹1,100. She sold them for ₹1,355. Did she make a profit or a loss? How much?

C.P. = ₹1,100, S.P. = ₹1,355
S.P. > C.P. So, there is a profit.
Profit = 1,355 − 1,100 = ₹255

(ii) Example for loss

Vaishali bought bangles for ₹1,500. She sold them for ₹1,355. Did she make a profit or a loss? How much?

C.P. = ₹1,500, S.P. = ₹1,355
S.P. < C.P. So, there is a loss.
Loss = 1,500 − 1,355 = ₹145

Exercise 12

1Choose the correct option.

(i) If the cost price is ₹418 and the profit is ₹72, the selling price is — (c) 490
S.P. = C.P. + Profit = 418 + 72 = ₹490
(ii) If the selling price is ₹1275 and the loss is ₹84, the cost price is — (b) 1359
C.P. = S.P. + Loss = 1275 + 84 = ₹1359

2Fill in the blanks.

(i) Bags purchased for ₹357 and sold for ₹418, then profit is ₹61. (418 − 357)
(ii) Transport ₹289 and cost price ₹3,628, then total cost price is ₹3,917. (3,628 + 289)
(iii) Cost price ₹143 and selling price ₹128, then loss is ₹15. (143 − 128)

3Solve.

(i) Prajjwal bought a bicycle for ₹7,450 and sold it for ₹6,820. Did he make a profit or a loss? How much?

C.P. = ₹7,450, S.P. = ₹6,820
S.P. < C.P. So, there is a loss.
Loss = 7,450 − 6,820 = ₹630

Prajjwal suffered a loss of ₹630.

(ii) Naresh sold toys for ₹1,265 at a loss of ₹345. Find the cost price.

C.P. = S.P. + Loss = 1,265 + 345 = ₹1,610

The cost price of the toys was ₹1,610.

(iii) A bookseller bought 118 books for ₹5,074 and sold each at ₹50. Did he make a profit or a loss? How much?

C.P. = ₹5,074
S.P. = 118 × 50 = ₹5,900
S.P. > C.P. So, there is a profit.
Profit = 5,900 − 5,074 = ₹826

The bookseller made a profit of ₹826.

4Julie bought 72 compass boxes at ₹145 each and paid ₹628 for transport. She sells each box at ₹162. Profit or loss? How much?

Cost of 72 boxes = 72 × 145 = ₹10,440
Total cost price = 10,440 + 628 = ₹11,068
Selling price = 72 × 162 = ₹11,664
S.P. > C.P. So, there is a profit.
Profit = 11,664 − 11,068 = ₹596

Julie makes a profit of ₹596.

5The village youth group bought 357 tree pots at ₹247 each and spent ₹629 on transport. They sold each pot at ₹289 and donated the profit to the village library.

i) Cost of 357 pots = 357 × 247 = ₹88,179
Total cost price = 88,179 + 629 = ₹88,808

ii) Selling price = 357 × 289 = ₹1,03,173

iii) Profit = 1,03,173 − 88,808 = ₹14,365

So, ₹14,365 was donated to the village library.

iv) What social values are seen in this initiative along with the financial transaction?

Love for the environment – they encouraged tree plantation.
Teamwork – the youth worked together.
Social service – the whole profit was given to the library.
Love for education – the library will help everyone in the village to read.

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