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RS Aggarwal Solutions Class 7 Chapter-11 Profit and Loss (Ex 11A) Exercise 11.1

RS Aggarwal Solutions

RS Aggarwal Solutions Class 7 Chapter-11 Profit and Loss (Ex 11A) Exercise 11.1

RS Aggarwal Solutions Class 7 Chapter-11 Profit and Loss (Ex 11A) Exercise 11.1 - Free PDF

RS Aggarwal Class 7 Exercise 11A deals with the chapter Profit and Loss which is solved by experts math teachers with question and answer format. Solving the chapter will help to clear the concept of the students and score better marks in the exam. Moreover, students can practice all the sums and problems of Class 7 RS Aggarwal Exercise 11A and revise it accordingly. It also contains the NCERT solutions following all the guidelines that make the study simple and interesting to understand. All the chapters with questions and answers enable the students to get a better insight. RS Aggarwal Class 7 Exercise 11A PDF can be downloaded from Vedantu. Every NCERT Solution is provided to make the study simple and interesting on Vedantu. You can also download NCERT Math Class 7 and Class 7 Science on Vedantu.

RS Aggarwal Class 7 Exercise 11 a Profit and Loss

Profit and Loss discussed in RS Aggarwal Solutions Class 7 Exercise 11A used in Mathematics to determine the price of a commodity in the market. It helps to further understand the basic concepts like profit and loss. Every commodity has its cost price and selling price. Based on these two prices, we can compute the profit gained or loss incurred in a particular product.

When the difference between the selling price is greater than that of a cost price, it is termed as profit. When the difference between the selling price is lesser than that of a cost price, it is termed as a loss. There are other important terms related to cost price, selling price, fixed, variable, and semi-variable cost, list price, marked price, margin, etc.

What are the Important Formulas Applied in RS Aggarwal Solutions Class 7 Chapter 11 A?

There are quite a few formulas that are stated in the RS Aggarwal Class 7th exercise 11A. It will help the students to understand the concept of profit and loss in a better way. With the help of the listed formulas, students can solve various problems.

Profit = S.P - C.P
Loss = C.P - S.P
Profit Percentage = (Profit/C.P x 100)
Loss Percentage = (Loss/C.P x 100)
S.P = {(100 + P%)/100} × CP
S.P = {(100 – L%)/100} × CP
C.P = {100/(100 + P%)} × SP
C.P = {100/(100 – L%)} × SP

RS Aggarwal Class 7 Chapter 11A Profit and Loss Examples

There are certain common examples of profit and loss provided in the RS Aggarwal Class 7 exercise 11A solution. This will help the student to understand the concept in an easy way.

A trader buys tea at Rs.100 and sells it for Rs.150, then the profit made by him is (Rs.150 - 100) = Rs. 50.
If a cloth merchant has brought a textile material at Rs. 400 and sells it Rs.300, then he incurred a loss. (Rs. 400 - 300) = Rs.100.
Suppose, Raju brings a cricket bat for Rs. 400/- and he sells it to his cousin for Rs. 600/-, then he has made a profit of Rs.200 with the gain percentage of 50%.

RS Aggarwal Solutions Class 7 Chapter 11A Problems

1. Given the following values, find the solutions with profit and loss:

(i) C.P. = Rs 1200, S.P. = Rs 1450 Profit/Loss?

(ii) C.P. = Rs 700, S.P. = Rs 640 Profit/Loss =?

(iii) C.P. = Rs 520, S.P. =?, Profit = Rs 55.50

(iv) C.P. =? S.P. = Rs 1368, Loss = Rs 32

Solution:

(i) Given CP = Rs. 1200, SP = Rs. 1450

Clearly CP < SP. So, profit.

Profit = SP – CP

= Rs. (1450 – 1200)

= Rs. 250

(ii) Given CP = Rs. 700, SP = Rs. 640

Clearly CP > SP. So, loss.

Loss = CP – SP

= Rs. (700 – 640)

= Rs. 60

(iii) CP = Rs. 520, SP =?, profit = Rs. 55.50

Profit = SP – CP

55.50 = SP – 720

SP = (55.50 + 520)

= Rs. 575.50

(iv) CP =?, SP = Rs. 1368, loss = Rs. 32

Loss = CP – SP

32 = CP – 1368

CP = (1368 + 32)

= Rs. 1400

Did You Know?

In RS Aggarwal Class 7 Exercise 11A Profit and Loss, certain fundamental concepts are very crucial to get hold of this chapter. It includes the following things:

To make profits, the selling price needs to be higher than the cost price.
To incur losses, the selling price needs to be lesser than the cost price.
The percentage value of profit and loss is calculated in terms of the cost price of the product.

FAQs on RS Aggarwal Solutions Class 7 Chapter-11 Profit and Loss (Ex 11A) Exercise 11.1

1. Will RS Aggarwal Class 7 Exercise 11 A Help the Students to Secure Good Marks in the Examination?

Yes, Class 7 RS Aggarwal Exercise 11A will definitely help the students to secure better grades in the examination. The subject matter expert prepares various questions with solutions for the convenience of the students. The step-wise solutions offered in the chapter gives a clear idea to understand the concepts of profit and loss in a better way. Students can also download the questions with the solutions for reference to develop a deeper knowledge of the chapter. It helps the students to become more confident by solving the sums independently. They can even verify and compare the answers and identify the mistakes. This NCERT solution for the chapter profit and loss helps the students to make good preparation and score high in the exam.

2. How Many Questions are There in NCERT Exercise 11A Class 7 RS Aggarwal?

Students will get two exercises with a text paper, in the NCERT RS Aggarwal Class 7th exercise 11A of Profit and Loss. In the first exercise, students will get to solve 22 sums and in the second exercise, there are 12 sums to solve. The last exercise is the test paper where there are a total of 11 sums of profit and loss to solve. The sums are mostly simple, while some of them also consist of sub-parts. Solving all these sums will provide a clear concept to the students about the chapter profit and loss. It is also important to know regarding it in the context of various real-life applications.

3. What are the main concepts discussed in Chapter 11 profit and loss of RS Aggarwal of class 7?

Major concepts or topics covered in Chapter 11 profit and loss from the RS Aggarwal book of class 7 are as follows -

What is meant by Profit and Loss
Definition of cost price (C.P.) and selling price (S.P.)
Profit and loss in percentage (Profit percent and Loss percent)
Calculating profit and loss when Cost and Selling prices are given
Finding C.P. and S.P. when profit or Loss is given
Finding the percentage of profit and loss
Finding selling price when C.P. and profit or loss is provided
Finding cost price when S.P. and profit or loss is provided

4. What types of questions are dealt with in Chapter 11 profit and loss?

The chapter first intends to recall the basic concepts of profit and loss, which is taught in previous classes, to strengthen the students’ base in this chapter. After the basics, the student’s knowledge of percentage will be tested. The concept of percentage is discussed in previous chapters, this concept is also frequently used in this chapter.

The questions will mainly be regarding the calculation of profit and loss percent, and finding the selling and costing price under different sets of conditions. For example, a question in which the student has to find the selling price of an article when the profit percent and cost price is given.

5. Explain Cost price and Selling price according to exercise 11 A?

Cost Price: It is the price at which a commodity or an article is purchased. The short form for Cost price is C.P.

Selling Price: The price at which the commodity or the article is sold is called as the selling price of that article. The short form for selling price is S.P.

For example: Suppose Aryan buys a kite for Rs 15 and then sells it to someone else at a price of Rs 20.

In this scenario, the cost price will be Rs 15 and the selling price will be Rs 20.