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Profit, Loss and Discount — Revision Notes

ICSE · Class 8 · Mathematics

Profit, Loss and Discount revision notes for ICSE Class 8 Mathematics: 4 topics in quick points. Part of the ICSE Class 8 Mathematics syllabus.

69 questions28 flashcards9 formulas & key relations5 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?
Key topics in Profit, Loss and Discount include Profit and Loss Basics, Finding Selling Price and Cost Price, Discount and Marked Price, Tax and GST. Study these first, then practise questions on each for Class 8 exams.
How should I revise Profit, Loss and Discount for Class 8 exams?
Learn the core ideas first, then work through the 69 practice questions on Profit, Loss and Discount. Revise 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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