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Prices Related To Buying and Selling

The document discusses various concepts related to percentages including: - Selling price, cost price, profit, and loss calculations for buying and selling items. - Calculating profit and loss percentages. - Converting between fractions, decimals, and percentages. - Interpreting percentages to determine quantities, such as the number of unwashed clothes from a given percentage. - Converting ratios to percentages to compare quantities. - Calculating percentage increases or decreases. - Key concepts related to simple and compound interest calculations.

Uploaded by

Midhun Bhuvanesh.B 7A
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© © All Rights Reserved
Available Formats
Download as PDF, TXT or read online on Scribd
89 views

Prices Related To Buying and Selling

The document discusses various concepts related to percentages including: - Selling price, cost price, profit, and loss calculations for buying and selling items. - Calculating profit and loss percentages. - Converting between fractions, decimals, and percentages. - Interpreting percentages to determine quantities, such as the number of unwashed clothes from a given percentage. - Converting ratios to percentages to compare quantities. - Calculating percentage increases or decreases. - Key concepts related to simple and compound interest calculations.

Uploaded by

Midhun Bhuvanesh.B 7A
Copyright
© © All Rights Reserved
Available Formats
Download as PDF, TXT or read online on Scribd
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Prices Related to Buying and Selling

Prices related to an item


 Prices related to an item are: (i) Selling price
(ii) Cost price
 Selling price (SP) is the price at which a product is sold out.
 Cost price (CP) is the buying price of an item.
 Profit = Selling price – Cost price
 Loss = Cost price – Selling price
 If SP > CP , then it is profit.
 If SP = CP , then it is neither profit nor loss.
 If CP > SP , then it is loss.

Finding the profit or loss percentage

 ProfitPercentage=ProfitCostPrice×100
 LossPercentage=LossCostPrice×100

Percentages and Why Percentages


Percentages
 Percentages are ratios expressed as a fraction of 100.
 Percentages are represented by the symbol ‘%’.
 Example: 20100=20%and 50100=50%.

Comparing percentages when denominator is not 100


 When a ratio is not expressed in fraction of 100, then convert the fraction to an equivalent
fraction with denominator 100.
 Example: Consider a fraction 35.Multiply the numerator and denominator by 20.
⇒3×205×20=60100=60%

Converting fractions/decimals to percentages


 Converting Decimals to Percentages
Given decimal: 0.44
0.44=44100=44100×100%=44%
 Converting Fractions to Percentages
Given fraction: 3535×100%=3×20%=60

Converting percentages to fractions/decimals


 0.25=25100=14
 0.225=2251000=940

Estimation using percentages


 Estimation can be done using percentages.

 Example: What percentage of the given circle is shaded?


Solution: The given triangle consists of 8 regions, out of which 6 regions are shaded.
So, the percentage of shaded regions will be 68×100=34×100=75%.

Interpreting percentage into usable data


 Percentages can be interpreted into useful data.
 Examples:
(i) 40% of Raghav’s clothes are not washed.
⇒ Raghav’s 40 clothes out of 100 clothes are not washed.
(ii) 30 % of students in class are infected by fever.
⇒ Out of 100 students in a class, 30 students are infected by fever.

Converting percentage to the form “how many”


 Example: 200 chocolates were distributed among two children: Joe and Tom. Joe got
60% and Tom got 40% of the chocolates. How many chocolates will each get?
Solution: Total number of chocolates = 200
Joe got 60% of the chocolates = 60100×200=120Tom got 40% of the chocolates
= 40100×200=80 ∴ Joe and Tom will get 120 and 80 chocolates, respectively.

Converting Ratios to percentages


 Ratios can be expressed as percentages to understand certain situations much better.
 Example: 200 chocolates were distributed among two children: James and Jacob. James
got35 and Jacob got 25 of the chocolates. What is the percentage of chocolate that each
got?
Solution: Total number of chocolates = 200
James got 35 of the chocolates = 35×100=60% of the total chocolates.
Jacob got 25 of the chocolates = 25×100=40% of the total chocolates.

Comparing Quantities : Introduction


 To compare two quantities, the units must be the same.
 Examples:
(i) Joe’s height is 150 cm and Tom’s is 100 cm.
Ratio of Joe’s height to Tom’s height would be Joe’s height : Tom’s height.
= 150 : 100 = 3: 2
(ii) Ratio of 3 km to 30 m is 3 km : 30 m.
= 3000 m : 30 m
= 300 : 1

 Ratio is a relation between two quantities showing the number of times one value
contains or is contained within the other.
 Example: If there are four girls and seven boys in a class, then the ratio of number of girls
to number of boys is 4:7.

Equivalent Ratios
 By multiplying numerator and denominator of a rational number by a non zero integer, we
obtain another rational number equivalent to the given rational number. These are
called equivalent fractions.
 Example:13=13×22=26 and 13 are equivalent fractions.

Proportions
 If two ratios are equal, then they are said to be in proportion.
 Symbol “::” or “=” is used to equate the two ratios.
 Example: (i) Ratios 2:3 and 6:9 are equal. They can be represented as 2:3 :: 6:9 or 2:3 =
6:9.
(ii) Ratios 1:2 and x:4 are in proportion.
⇒12=x4
⇒1×4=x×2
⇒2x=4
⇒x=2

Finding the Increase or Decrease in Percent


Finding the percentage increase or decrease
 Example: Price of a book was changed from ₹20 to ₹25 in a week. Calculate the
percentage increased.
Solution: Change in price = ₹25 – ₹20 = ₹5
PercentageIncreased=ChangeinPriceOriginalPrice =520×100=25%

Simple and Compound Interest

Sum / principal
 The money which has been borrowed is called sum or principal.
 This money can be used by the borrower for a particular time period before returning to
the lender.
 Example: Loan that you take from a bank is the principal.

Interest
 Interest is the extra payment that a borrower should pay to the lender along with the
principal.

Amount
 A borrower should return the principal amount (he/she has borrowed) and the interest to
the lender. This money is called amount.
⇒ Amount = Principal + Interest.

Simple Interest
 Simple interest(SI) is the interest charged on a borrowed money where the principal
amount will be fixed for a particular time period.
 SimpleInterest=P×R×N100P = Principal Amount, R = Interest rate
N = Number of years
 Example: Calculate the simple interest for 3 years when the principal amount is 200 and
interest rate is 10% for 1 year.
Solution: Given: P = 200; R = 10%; T = 3 yrs
Simple Interest = 200×10××3100=60Amount = P + SI = Rs. (200 + 60) = Rs. 260

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