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Profit, Loss and Discount

ICSE · Class 8 · Mathematics

Quick revision notes for Profit, Loss and Discount — ICSE Class 8 Mathematics. Key concepts, formulas, and definitions for last-minute revision.

69 questions28 flashcards5 concepts

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Key Topics to Revise

1

Profit and Loss Basics

  • Profit occurs when selling price is greater than cost price.
  • Loss occurs when selling price is less than cost price.
  • Profit = Selling Price – Cost Price.
2

Finding Selling Price and Cost Price

  • If gain percent is given with cost price, selling price can be found directly.
  • If loss percent is given with cost price, selling price can be found directly.
  • If selling price and gain percent are given, cost price can be found directly.
3

Discount and Marked Price

  • Discount is a reduction offered on marked price.
  • Discount is always calculated on marked price.
  • Selling price = Marked Price - Discount.
4

Tax and GST

  • Tax is calculated on sale price.
  • Amount paid by the customer equals sale price plus tax.
  • The rate of tax depends on the nature of goods.

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Full Notes

Key Concepts

Cost Price is the price atProfit is Selling Price minus CostLoss is Cost Price minus SellingProfit percent and loss percentIf gain percent is known

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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