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SparkEd Math offers 60+ practice questions for Profit, Loss & Discount across 3 difficulty levels (Easy, Medium, Hard) plus a timed test mode. Each question comes with visual step-by-step solutions and AI coaching hints.

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Is SparkEd's Profit, Loss & Discount content aligned with the ICSE syllabus?

Yes, all Profit, Loss & Discount questions and lessons on SparkEd Math are fully aligned with the Indian Certificate of Secondary Education (ICSE) syllabus for Class 7. The content follows the official curriculum structure and exam pattern.

Profit, Loss & Discount — Class 7 ICSE (2025-26)

About Profit, Loss & Discount — Class 7 ICSE

Calculate profit, loss, discount, and marked price in commercial mathematics contexts. This topic is part of the ICSE Class 7 mathematics syllabus (chapter: Chapter 16). On this page you can practice 59 questions across three difficulty levels — 20 easy, 19 medium, and 20 hard — each with a visual step-by-step solution, plus a timed 35-question mastery test with a live leaderboard. Worked examples and sample questions from the topic are below.

What you'll learn in Profit, Loss & Discount

Understanding Cost Price, Selling Price, Profit, and Loss
Calculating Profit Percentage and Loss Percentage
Finding C.P. or S.P. when Percentage is Given
Exploring Marked Price and Discount
Connecting All Concepts: Advanced Problems

Interactive lesson · about 15 minutes · checkpoint question after every unit

Profit, Loss & Discount — solved examples for Class 7 ICSE

Example 1easy

Which of the following statements correctly defines 'Profit' in commercial transactions?

A)Profit is the amount saved when buying an item.
B)Profit is calculated when the Cost Price (CP) is greater than the Selling Price (SP).
C)Profit is the extra amount gained when the Selling Price (SP) is greater than the Cost Price (CP).
D)Profit is the percentage reduction on the Marked Price (MP).

Step-by-step solution

Cost Price (CP) is the price at which an item is bought.
Selling Price (SP) is the price at which an item is sold.
Profit occurs when SP > CP, and it is calculated as Profit = SP - CP.

Answer: Profit is the extra amount gained when the Selling Price (SP) is greater than the Cost Price (CP).

Example 2medium

A shopkeeper bought a set of books for ₹1200 and sold them for ₹1380. What was the profit or loss amount made by the shopkeeper?

A)Loss of ₹180
B)Profit of ₹100
C)Profit of ₹180
D)Loss of ₹100

Step-by-step solution

Given Cost Price (CP) = ₹1200.
Given Selling Price (SP) = ₹1380.
Since SP > CP, there is a profit.
Profit = SP - CP = ₹1380 - ₹1200 = ₹180.

Answer: Profit of ₹180

Example 3hard

A trader bought an article. He spent 10% of the cost price on transportation. Then, he sold it at a loss of 5% on the total cost. If the selling price was ₹1710, what was the original cost price of the article?

A)₹1800
B)₹1900
C)₹2000
D)₹1750

Step-by-step solution

Let the original cost price be CP. Transportation cost = 10% of CP = 0.10 × CP.
Total Cost Price (CP_total) = CP + 0.10 × CP = 1.10 × CP.
Loss = 5% of CP_total = 0.05 × (1.10 × CP) = 0.055 × CP.
Selling Price (SP) = CP_total - Loss = 1.10 × CP - 0.055 × CP = 1.045 × CP.
Given SP = ₹1710. So, 1.045 × CP = ₹1710.
CP = ₹1710 / 1.045 = ₹2000.

Answer: ₹2000

Practice questions on Profit, Loss & Discount

Q1.easy
A shopkeeper buys a toy car for ₹250 and sells it for ₹210. What is the loss incurred by the shopkeeper?
1. A)₹30
2. B)₹40
3. C)₹50
4. D)₹60
Show answer
Answer: ₹40
Hint: Loss occurs when the selling price is less than the cost price.
Q2.easy
Reema bought a book for ₹120 and sold it for ₹150. What is her profit percentage?
1. A)25%
2. B)20%
3. C)30%
4. D)15%
Show answer
Answer: 25%
Hint: First calculate the profit, then use the formula for profit percentage which is always calculated on the Cost Price.
Q3.easy
Rahul bought a bicycle for ₹2000 and sold it at a loss of ₹400. He calculated his loss percentage as (₹400 / ₹1600) × 100% = 25%. What mistake did Rahul make in his calculation?
1. A)He calculated the loss amount incorrectly.
2. B)He should have added the loss to the selling price.
3. C)He used the wrong formula for loss percentage.
4. D)Loss percentage should always be calculated on the Cost Price (CP), not the Selling Price (SP).
Show answer
Answer: Loss percentage should always be calculated on the Cost Price (CP), not the Selling Price (SP).
Hint: Recall the base value used for calculating both profit percentage and loss percentage.
Q4.medium
Rohan bought a vintage watch for ₹500 and later sold it for ₹450. Calculate the percentage loss incurred by Rohan.
1. A)10%
2. B)5%
3. C)15%
4. D)20%
Show answer
Answer: 10%
Hint: First, calculate the actual loss amount. Then, remember that loss percentage is always calculated on the Cost Price (CP).
Q5.medium
A retailer wishes to make a profit of 15% on an article that costs him ₹800. What should be the selling price (SP) of the article?
1. A)₹900
2. B)₹920
3. C)₹815
4. D)₹880
Show answer
Answer: ₹920
Hint: To find the Selling Price when profit percentage is given, add the profit amount (calculated on CP) to the Cost Price.
Q6.medium
After selling a jacket for ₹1350, a shopkeeper made a profit of 25%. What was the original cost price (CP) of the jacket?
1. A)₹1000
2. B)₹1100
3. C)₹1050
4. D)₹1080
Show answer
Answer: ₹1080
Hint: If the selling price includes a 25% profit, then the SP represents 100% + 25% = 125% of the Cost Price.
Q7.hard
A sells an article to B at a profit of 20%. B sells it to C at a loss of 10%. If C pays ₹5400 for the article, what was the price at which A bought it?
1. A)₹5000
2. B)₹4800
3. C)₹5200
4. D)₹4500
Show answer
Answer: ₹5000
Hint: Work backwards from C's cost price to B's selling price, then to B's cost price, and finally to A's cost price.
Q8.hard
A shopkeeper allows a discount of 15% on the marked price of an article and still makes a profit of 19%. If the article costs him ₹800, what is its marked price?
1. A)₹1100
2. B)₹1120
3. C)₹1140
4. D)₹1150
Show answer
Answer: ₹1120
Hint: First, calculate the selling price using the cost price and profit percentage. Then, use the selling price and discount percentage to find the marked price.
Q9.hard
Which of the following statements is always true regarding commercial transactions?
1. A)A) Profit % is always calculated on the Selling Price.
2. B)B) Discount % is always calculated on the Cost Price.
3. C)C) If an article is sold at a discount, the Marked Price is always greater than the Selling Price.
4. D)D) If there is a loss, the Selling Price is always greater than the Cost Price.
Show answer
Answer: C) If an article is sold at a discount, the Marked Price is always greater than the Selling Price.
Hint: Carefully recall the definitions and calculation bases for profit, loss, and discount percentages. Consider the relationships between CP, SP, and MP.

These are 9 of the 59 questions available for Profit, Loss & Discount. Start practicing above to unlock visual solutions, AI coaching, and the topic leaderboard — completely free.