Profit-Loss and Discounts Class 8 - Edugain Math

ID : in-8-Profit-Loss-and-D iscounts [1]

Class 8 Profit-Loss and Discounts

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Choose correct answer(s) from the given choices

(1) How much percent above the cost price should a dealer mark his goods so that after allowing a discount of 20% on the marked price, he gains 15%?

a. 47.38% c. 49.75%

b. 45.64% d. 43.75%

(2) Kareem purchased 2880 tube-lights for his shop at 32 each. During transportation 576 tube-lights got damaged, and he sold remaining tube-lights at the price of 36 each. Find overall profit/loss in percentage.

a. 5% loss

b. No profit and no loss

c. 20% loss

d. 10% loss

Fill in the blanks

(3) The marked price of a tricycle is 4000 and the shopkeeper allows a discount of 9% on it then, the

selling price of the tricycle is

.

(4) Akshiti bought a new car for . 22145 Then the dealer added . 1550.15 So, the sales tax rate for

this purchase was

%.

(5) The difference between discounts of 20% on 500 and two successive discounts of 16% and 4%

of the same price is

.

(6) The single discount equivalent to two successive discounts of 40% and 20% is

%.

Answer the questions

(7) A shopkeeper sells two qualities of coffee at the rates of 49.5 per kg. and 60 per kg, gaining 10% and 20% profit respectively. If he mixes the two variants in the ratio 1:4 and sells the mixture at 63.7 per kg., what is his gain% or loss%?

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ID : in-8-Profit-Loss-and-D iscounts [2]

(8) 800 bulbs are bought at the rate of 16 each. Out of them only 720 are sold at rate of 20 each and the remaining are left unsold. Find the overall profit/loss percent.

(9) A reduction of 15% in the price of the sugar enables to get 5 kg more for 170. What is the reduced price per kg? What was the original price per kg before reduction.

(10) Cost of a packet of coffee powder and a litre of milk are 15 and 20 respectively. 5 cups of coffee is made with one packet of coffee powder and for each cup 200 ml of milk is used. If coffee is sold at 30% profit, then what is the selling price of each cup of coffee?

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Solutions

(1) d. 43.75%

Step 1 Let the cost price be 100.

Step 2 It is given that the dealer gains 15%.

SP = 100 + 15% of 100 = 100 + 15 = 115

Step 3 Let us assume that the MP is x.

Now, discount = 20% of x 20

=x? 100

x =

5

SP = M P - discount

( ) x

= x- 5

4x =

5

Step 4 But, SP = 115.

4x

= 115

5

5

x = 115 ?

= 143.75

4

M P = 143.75

Step 5

Hence, the marked price should be 43.75% above the cost price.

ID : in-8-Profit-Loss-and-D iscounts [3]

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(2) d. 10% loss

ID : in-8-Profit-Loss-and-D iscounts [4]

Step 1 According to the question, Kareem purchased 2880 tube-lights for his shop at 32 each. Cost Price, CP = 2880 ? 32 = 92160

Step 2 During transportation 576 tube-lights got damaged. Remaining tube-lights = 2880 - 576 = 2304

Step 3 He sold remaining 2304 tube-lights at price of 36 each. Selling price, SP = 2304 ? 36 = 82944

Step 4 Loss = CP - SP = 92160 - 82944 = 9216

Step 5

Loss ? 100 Loss % =

CP

9216 ? 100 =

92160

921600 =

92160 = 10

Step 6 Therefore, there is 10% loss.

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(3) 3640

ID : in-8-Profit-Loss-and-D iscounts [5]

Step 1 It is given that MP of tricycle is 4000 and discount percentage is 9%.

Discount = 9% of MP = 9% of 4000

9

=(

) ? 4000

100

= 360

Step 2

SP of tricycle = MP - Discount = (4000 - 360) = 3640

Step 3 Thus, the SP of the tricycle is 3640.

(4) 7

Step 1 Cost of car before tax = 22145 Sales tax = 1550.15

Step 2

So, sales tax rate =

Salex tax

? 100%

Cost before tax

1550.15

=

? 100%

22145

= 0.07 ? 100%

= 7%

Step 3 Hence, the sales tax rate for this purchase was 7%.

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