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Chapter Summary

Profit, Loss and Discount

ICSE · Class 8 · Mathematics

Summary of Profit, Loss and Discount for ICSE Class 8 Mathematics. Key concepts, important points, and chapter overview.

69 questions28 flashcards5 concepts

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Overview

Profit, loss, discount, overhead expenses, tax, and GST are basic ideas used in buying and selling. Profit happens when the selling price is more than the cost price, while loss happens when the selling price is less than the cost price. Discount is a reduction on the marked price, and tax is added

Key Concepts

Cost Price is the price at

Cost Price is the price at which an article is bought. Selling Price is the price at which it is sold. Profit and loss are found by comparing these tw

Profit is Selling Price minus Cost

Profit is Selling Price minus Cost Price. It occurs when Selling Price is greater than Cost Price.

Loss is Cost Price minus Selling

Loss is Cost Price minus Selling Price. It occurs when Selling Price is less than Cost Price.

Profit percent and loss percent

Profit percent and loss percent are always calculated on Cost Price. The formulas are Profit percent = Profit / C.P. × 100% and Loss percent = Loss /

If gain percent is known

If gain percent is known, S.P. = (100 + gain%)/100 × C.P. If loss percent is known, S.P. = (100 - loss%)/100 × C.P.

Learning Objectives

  • Identify profit and loss using cost price and selling price
  • Calculate profit percent and loss percent on cost price
  • Find selling price or cost price when profit percent or loss percent is given
  • Use marked price and discount to find selling price
  • Understand overhead expenses and include them in total cost price

Frequently Asked Questions

What are the important topics in Profit, Loss and Discount for ICSE Class 8 Mathematics?
Profit, Loss and Discount covers several key topics that are frequently asked in ICSE Class 8 board exams. Focus on the core concepts listed on this page and practise related questions to build confidence.
How to score full marks in Profit, Loss and Discount — ICSE Class 8 Mathematics?
Understand the core concepts first, then work through the 69 practice questions available for this chapter. Revise formulas and definitions regularly, and use flashcards for quick recall before the exam.

Sources & Official References

Content is aligned to the official syllabus. Refer to the board website for the latest curriculum.

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