Math Grade 5 : Exercise 2B

1. Decide whether there is profit or loss in each of these products with the help of a model.

a. Channapatna toys from Karnataka.
Cost Price = Rs 305 , Selling Price = Rs 340

here, CP < SP
Profit = SP - CP = 340 - 305 = 35
hence, Profit = Rs 35

b. Coir mat from kerala.
Cost Price = Rs 275
Selling Price = Rs 255

here, CP > SP
Loss = CP - SP = 275 - 255 = 20
hence Loss = Rs 20

c. Kolhapuri chappals from Maharashtra.
Cost Price = Rs 428
Selling Price = Rs 410

here, CP > SP
Loss = CP - SP = 428 - 410 = 18
hence Loss = Rs18

d. Hand loom Saree from Odisha.
Cost Price = Rs 1680
Selling Price = Rs 2390

here, CP < SP
Profit = SP - CP = 2390 - 1680 = 710
hence Profit = Rs 710

2. Find out the profit or loss in each of these. You may use models if you wish.

	Cost Price	Selling Price	Profit/Loss	Amount
a	Rs 2,090	Rs 2,100	CP < SP = Profit	Rs 2,090 - Rs 2,100 = Rs 10
b	Rs 8,395	Rs 8,935	CP < SP = Profit	Rs 8,935 - Rs 8,395 = Rs 540
c	Rs 14,060	Rs 14,600	CP < SP = Profit	Rs 14,600 - Rs 14,060 = Rs 540
d	Rs 9,319	Rs 9,139	CP > SP = Loss	Rs 9,319 - Rs 9,139 = Rs 180
e	Rs 11,190	Rs 11,865	CP < SP = Profit	Rs 11,865 - Rs 11,190 = Rs 675

3. First find the final cost of each item. Then calculate profit or loss using models if you wish.

	Cost Price	Overheads	Final cost (CP + Overheads)	Selling Price	Profit/Loss Amount
a	Rs 645	Rs 80	Rs 645 + Rs 80 = Rs 725	Rs 800	Profit = Rs 800 - Rs 725 = Rs
b	Rs 909	Rs 162	Rs 909 + Rs 162 = Rs 1,071	Rs 1,235	Profit = Rs164
c	Rs 2,100	Rs 395	Rs 2,100 + Rs 395 = Rs 2,495	Rs 2,300	Loss = Rs 195
d	Rs 7,213	Rs 520	Rs 7,213 + Rs 520 = Rs 7,733	Rs 9,818	Profit = Rs 2,085
e	Rs 9,127	Rs 2,061	Rs 9,127 + Rs 2,061 = Rs 11,188	Rs 10,050	Loss = Rs 1,138

4. Solve

a. A collector buys a painting for Rs 3,500 but to sells it for Rs 2,750. Find the gain or loss.

Given, Cost price = Rs 3,500

      Selling Price = Rs 2,750

Here, CP > SP

Hence Loss = CP - SP

          = 3,500 - 2,750

          = Rs 750

b. A Second hand furniture dealer buys a used table for Rs 3,250. He spends Rs 500 on polishing and repairing it. If he sells it at Rs 4,000, what is his profit?

Cost Price = Rs 3,250

Overheads = Rs 500

So, Total amount he spent = Rs 3250 + Rs 500

                      = Rs 3,750

Selling Price = Rs 4,000

Profit = 4,000 - 3750

     = Rs 250

c. A Calculator that costs Rs 517 is sold at Rs 575. What is the profit that is made?

Cost Price = Rs 517

Selling Price = Rs 575

Profit = Rs 575 - Rs 517

     = Rs 58

d. A used dining set is sold for Rs 9,390. It had been bought for Rs 11,500. What is the loss that is incurred?

Cost Price = Rs 11,500

Selling Price = Rs 9,390

Loss = Rs 11,500 - Rs 9,390

= Rs 2,110

e. A furniture mart buys an old sofa set for Rs 5,380. They spend Rs 1,840 to put new covers on it and sell it for Rs 8,000. What is the profit or loss?

Cost Price = Rs 5,380

Overheads = Rs 1,840

Total amount spent = Rs 5,380 + Rs 1,840

                = Rs 7,220

Selling Price = Rs 8,000

Profit = Rs 8,000 - Rs 7,220

     = Rs 780