ELEV EN

Money
To Do
Summarise the unitary method Evaluate cost price (CP), selling
Describe cost price (CP), selling price price (SP), profit and loss
(SP),profit and loss Apply profit and loss in real-life
situations

Tune Up
Rachna isthe monitor of her class. BILL
Her class teacher has asked her to
buy a few stationery items for an Description Amount (in ?)
art-and-craft activity and has given 3 chart papers
24
her a 500 note. @8 per chart paper
Have a look at the bill made by a 5packets of crayons 125
stationer.
@ 25 per packet
30 coloured sheets
90
Find out the total amount of money @3 per sheet
spent by Rachna. 4 glue sticks 40
Also, find out how much money did @?10per glue stick
the shopkeeper return to her. Total

We purchase various articles or things such as food items, clothes, grocery

ud stationery items from the market. The amount of money to be paid Money
Whle purchasing any number of articles is calculated by applying simple
athematical operations-addition, subtraction, multiplication and division.

181
 Let us revise the unitary methodthat we have studied in the
previous grade.
UNITARY METHOD
The method of finding the value of one article on the basis of the given
information and then finding the value of the desired quantity of the sa
article is called the unitary method.
If the cost of any number of articles (of the same kind) is given, then ve
find the cost of one article by division.
Cost of 1article = Total cost of all the articles ÷ Number of articles
Example 1: If a packet of 10 colour pencils costs ? 35, how much would one
colour pencil cost?
Solution: Cost of 10colour pencils =35 Apply lt
Cost of 1colour pencil =?35 + 10 =*3.5 '6 erasers for ? 14.40' or 8
erasers for 24'
If the cost of 1 article is given, then we can
Which one is a better deal?
find the cost of any number of articles (of the
same price) by multiplication.
Cost of a number of articles = Cost of 1 article x Number of articles
Example 2: The cost of 1 metre long cloth is 30. How much would
7 metres of the same cloth cost?
Solution: Cost of 1metre long cloth =R 30
Cost of 7metres long cloth =?30 x 7=210

Exercise11;1
1. The cost of 8notebooks is 96. Find the cost of 12 such notebooks.
2. Acar covers 50 km in 1 hour. Find the distance covered by the same car in
45 minutes.

3. The cost of 5 kg mangoes is 200. How many kg of mangoes can be purchasedfor

300?

4. If 6chairscost 3390, find the cost of 10 such chairs.

Money
5. Aparcel weighs 35 kg. How many parcels would weigh 2100 kg?

182
 Rashmi runs a boutique. She earns 80,050 in
6. months?
2 months. How much does she
earnin 7
worker ispaid 4507.50 for 15 days. How much would he
7. A be paid for 25 days?
ticket costs ? 341 for a journey of 62
8. Abus km? How much would it cost for a
km?
journey of 540
went to a sshop and saw the Diwali offers on various itemns. Which offer
9 Veena
should shego for?
a) 25 candles for 40 or 30 candles for 45
b) 15garlands for 150 or 5 garlands for 60

PROFIT AND LOSS

In oureveryday life, we buy and sella lot of things. Sometimes we see
neople make profit or face loss. Let us learn a
few terms to understand profit and loss. Grasp t
The price at which an article is bought is called Transportation andtaxes
the cost price (C.P.) of the article. come under overhead
the expenditure, so they wilI
The price at which an article is sold is called be added to the cost price.
selling price (S.P.) of the article.
Sometimes, in addition to the cost of an article,
additionalexpenses such as transportation, labour and maintenance
Some
overhead charges. The overhead
are also paid. Such expenses are called
charges are added to the cost price. Thus,
charges
Total C.P. =C.P of the article + Overhead

Profit is
price of the article is more than its cost price, then the article
tne selling
Said to be sold at a profit or gain.
Profit = S.P. - C.P.
then S.P./C.P. can be found using the
When profit and C.P./S.P. are given,
formulae: Profit S.P. = C.P. + Profit
Money
C.P. = S.P.

183
 Example 3: Find the profit earned in each case.
a) C.P. = 3000, S.P. =3200
b) C.P. =? 280, S.P. =310, Overhead charges =? 18
Solution:
a) Profit = S.P. -C.P. b) Total C.P. = 280 + 18 =
298
=R 3200 3000 Profit = S.P. - C.P. = 310
298
=? 200 =12
Example 4: Find the S.P. if C.P. =78790 and profit= R1050
Solution: S.P. = C.P. + Profit = 8790 + 1050 =? 9840
Example 5: Find the C.P. if S.P. = 5645and profit = 410
Solution: C.P. = S.P. - Profit = S645 410 = ? 5235
Loss
If the selling price of the article is less than its cost price, then the article is
said to be sold at a loss.
Loss = C.P. -S.P.
When loss and C.P/S.P. are given, then S.P/C.P. can be found using the
formulae:
C.P. = S.P. + LOss S.P. = C.P, Loss
Example 6: Find the loss incurred in each case.
a) C.P. =3000, S.P. =?3200, Overhead charges = 300
b) C.P. =310, S.P. = 280
Solution:
a) Total C.P. =3000 +300=73300 b) Profit = C.P. S.P.
Loss = C.P. - S.P. =3300 3200 =310 -7 280
= 100 =?30
Example 7: Find the S.P. if C.P. = 1567 and loss = 134.
Money
Solution: S.P. =C.P. - Loss =?1567 - 134 = 7 1433
Example 8: Find the C.P. if S.P. = 10400 and loss = 280.

184
 +
solution: C.P. = S.P. Loss = ? 10400 + 280 = 10,6S0
If C.P. = S.P.. then there is neither profit nor loss.

Exercise 11:2
Findthe
profivloss in each case.
1.
200.S.P. = 260
2) C.P.=Y
C.P. = 181. S.P. =220. Overhead charges = 17
S.P. =700
C) C.P. =?750,
CP.=640, S.P. =?705, Overheadcharges - 80
d
S.P. = 2062.25
e) C.P. = 3064.50,
each case.
). Find the S.P. in
Profit=65
a) C.P. =835,
Profit =725, Overhead charges - l80
b) CP.=9530,
Loss =95
C) C.P.=6052,
Loss=123.50
d) C.P.=71026.50,
=1024, Overhead charges = 210
Loss
e) C.P.=7349,
case.
3. Find the C.P. in each b) S.P.=4960, Profit=380
=569
S.P.=3057, Profit Profit=540
a) d) S.P.=7590,
Profit=950 =705.25
C) S.P. =4480, f) S.P. =2970.50, Loss
Loss =45
e) S.P.=575,

400.
Applications in Real Life of shoes for 360. She sold it
for
Ridhima bought a pair
Example 9:
Find her profit or loss. S.P=400
? 360 and
Solution: C.P. =
earned.
As S.P. >C.P., SO profitis Grasp lt
400 360 = 40 there is loss.
Profit = S.P.- C.P. =? If C.P. > S.P., then
isprofit.
bought an If S.P. > C.P., thenthere is neither Money
Example 10: Ashopkeeperfor 6500. then there
Oven for 5000 and sold
it If C.P. S.P.,
profit nor loss.
? 300 as
He paid 200 as tax andFind his profit or
transportation charges.
loss. 185
 Solution: Total C.P. = (5000 + 200 +
300) =?5500 and S.P. =6500 Get It
As S.P. > C.., so profit is earned. CP. = C.P. of an article + Overhead.
S.P. = C.P. of an article + Overhead.
Profit = S.P. - C.P. =6500 5500 X

=?1000

Example 11: A garment store bought

50 shirts at the rate of ? 400 per shirt Apply it
and sold them at a loss of 1600. What
was the selling price of one shirt? Ashopkeeper buys 5 pens at25.
He sells them in his
Solution: C.P. = (400 × 50) = 20000 at 8 each. HoW stationery
shophe
many pens will
Loss =? 1600 sell to make a profit of ? 2102
S.P. = C.P.- Loss = 20000 - 1600
= 18400
.. S.P. of one shirt = (18400 + 50) = 368
Exercise 11:3
1. A shopkeeper bought a second-hand car for 1,50,000. He spent 10,000 on its
painting and repair and then sold it for 2,00,000. Find his profit or loss.
2. Vinita bought a house for ? 4,50,000. She spent ? 20,000 on repairs and white
washingand then sold it for 4,30,000. Find her profit or loss.
3. Srivatsan bought an almirah for ? 12,480and sold it after a
year at a loss of? 1,660.
How much did he sell it for?
4. Fazal bought an old sofa set and spent 840 to get it
at aloss of? 1,250. Atwhat price did he buy the
repaired. He sold it for ?8,000
sofa set?
5. Raman purchased a bikefor 85,530. He
spent l.200on its accessories. He te
sold the bike for? 50,000. Calculate the
profit or loss.

Money Wrap Up
" In unitary method, the cost of one article can be
" In
found by division.
unitary method, the cost of any number of articles of the same price can be
found by multiplication.

186
 The price at which a person purchases certain goods is the cost price (C.P.).
The price at which aperson sells the goods is the selling price (S.P.).
.Ifthe selling price is more than the cost price, then there is profit, calculated by:
Profit - S.P. - C.P.

.f the cost price is more than the selling price, then there is loss, calculated by:
Loss = C.P. - S.P.

Workout

travelling 35 km. How much will the taxi

taxi
1. A charges a passenger 420for
charge for travelling 23 km?
for 90. Find the profit or loss.
2. An article bought for 80 was sold
almirah for 15,000and gained 923 by selling it. Find the
3. Atrader bought an
selling price of the almirah.
34,000, Ravi incurred a loss of? 7,302. What was the
4. By selling a scooter for?
cost price of the scooter?
for 5,863. Due to some defects in it, he had to pay? 37
5. Rohit bought a stereo 5,700. Find his loss.
repair. He then sold it for
tothe mechanic for its
better deal-a dozen eggs for ?78 or 5 eggs for35?
6. Which is a

Mental Maths

Understand
can be found by division, whereas the
the cost of one article
I USing unitary method, of the same price can be found by
multiplication.
Costof any number of articles S.P. = C.P. + Profit
I Profit= S.P. -C.P. C.P. = S.P. - Profit;
S.P. = C.P. - Loss
C.P. = S.P. + Loss; Money
ILoss = C.P.- S.P. ’

Perform
costing ?75 is sold for 135. The profitearned is
. An article c) 60 d) 65
a) ?35
b) 75
187
 I 2. If S.P. =5500 and profit = 1500, then C.P. =
a) 7000 b) 2000 c) 4000 d) 3000
3. If C.P. -500 and loss =60, then S.P. =
a) 540 b) 440 c) 560 d) 640
I 4. If7 sacks of rice cost 777, then the cost of l sack is
a) 123 b) ?121 c) 112
5. Afactory produces 4500 toy cars in 15 days. In one day, it produces
toy cars.
a) 250 b) 275 C) 280
d) 300

Maths in Action
Inour dailylife, we receive a variety of bill receipts whileusing various services
such as buyingonline movie ticketsor paying electricity bills and grocery bill
which states the amount of money charged or paid. Observe
various
that your elders receive and get an idea of money being spent to utilisebillthe
receipts
aforementioned services.

Maths Lab Activity

Aim: To understand the concept of profit and loss
Materials required: Dummy notes and coins and commonly available items
as pencil pen, eraser and sharpener such
Method:
1. The teacher will keep all the
items on the table and write the cost price of
each item on the board.
2. She/he will call out one
student from the class and ask her/him to play the
role of a shopkeeper.
3. She/he will provide
dummynotes and coins to each student.
Money4. The studentswill come one
byone
Theshopkeeper can sell the item at and buv an item with the provided noy
a reasonable price.
5. After each
transaction, the teacher will ask the students to calculate the profit
earned or loss incurred.
188
 Enrich Your Intelligence Quotient

HOTS
1. Astationer buys 5labels for 25. He sells them in his stationery shop at 8
each. How many labels should he sell to make a profit of 99?
2 The cost of a fountain pen is 250. What is the cost of a dozen pens of the
samekind?

Enrich Your Emotional Ouotient

Life Skills and Values

Aakritiowns amedical [Link] bought two four cartons of a particular medicine
She sold the medicines of cartons for 3000 and sent the
at 1250 each.
cartons for the people affected by floods in Uttarakhand. Willshe
other two
much?
gain or lose and by how affected
people
Aakritigained by sending medicines for the
What do you think
by flood?

Quotient
Enrich Your Happiness

it carefully on a
table
School Bag from it and place
your school bag, put out each item of each item. Put a sticky note
lake
Ask your elders to tell you the cost
Now, collect each sticky note and
Or a tloor. the price on it. items.
on each item after writing spent to buy these
calculate the amount of money

Money

189