Introduction
In this WebQuest we will learn about Profit and Loss.
Profit: If the selling price is more than the cost price, there is a Profit.
Formula for Profit : Selling Price - Cost Price
Loss: If the selling price is more than the cost price, there is a Loss.
Formula for Loss: Cost Price - Selling Price
Task
Divide yourself in groups of 6 Solve the following :
1) Reena sold a carpet for rupees 10,000 at a profit rupees 2,000. Find the price at which she bought it.
2) Sharad bought one quintal of onions for Rs2000. Later he sold them all at the rate 18 per kg. Did he make a profit or incur a loss? How much was it ?
Process
Watch these videos to know more about profit and loss.
Evaluation
Use this rubric for evaluation purpose:
Conclusion
Profit and loss percentage are used to refer to the amount of profit or loss that has been incurred in terms of percentage. It should be noted that the percentage is one of the methods for comparing two quantities.