RD Sharma Class 8 Chapter 13 Solutions (Profit Loss Discount And Value Added Tax)
RD Sharma Class 8 Maths Solutions for Chapter 13 discuss profit and loss, discounts, selling price, cost price, compound interest, sales tax and value-added tax in detail. These topics hold a lot of importance in day to day life as well. Understanding all the concepts of the chapter is essential to prepare for your exams effectively and you will be able to score good marks.
The RD Sharma Class 8 Maths Solutions for Chapter 13 comprises exercise questions that cover the topics of the chapter from basic to advanced level. There are around 3 exercises that cover around 70 questions in total. We have provided exercise-wise solutions to the exercises of the chapter so that you can easily recheck your answers. In case of problems while solving the questions you can easily seek help from those solutions.
Our main aim is to make the RD Sharma questions simplified for you by providing you with the proper explanations and problem-solving methods. Our subject matter experts make sure that the chapter is explained with all means before you solve the questions. This helps in boosting up your confidence and you will be able to handle all kinds of problems related to this chapter.
Important Topics for RD Sharma Class 8 Maths Solutions Chapter 13: Profit Loss Discount And Value Added Tax
Profit and loss
- It is a financial statement that comprises the revenue, cost, and expenses incurred by a company during a period of time, usually a fiscal year.
Selling price and cost price
- The price at which a product or service is sold to the buyer by the seller is called the selling price. The selling price is calculated by adding the cost price and profit margin set by the seller.
- The cost price, on the other hand, is the cost that is involved in the production of an item or to provide a service to the buyer. The formula of cost price is selling price x 100 / 100 – percentage loss.
Discounts and Percentage
- A discount is a reduction given on the market price of an article. A discount can be calculated by subtracting the market price by sale price. So, discount price = market price – sale price.
- For example, if an item marked as 840 is sold for 714. What will be the discount and discount%?
We know that the discount will be 840-714 = 129. Now, the percentage will be calculated by dividing the discount from the marked price and then multiplying it by 100 i.e 126/840 x 100 = 15%.
- Profit refers to financial gain. Especially, profit is the difference between the amount spent and the amount earned in buying, producing something or operating.
- For example, if Sheela sells a lucky dip at Rs.10. She spends Rs.5 to purchase it, and Rs. 3 to wrap it with paper. She spends a total of Rs.8 and sells at Rs.10. This gives her a profit of Rs.2.
To find the profit percentage, you need to divide profit with the total expenditure done, i.e, Profit (Rs.2) / Expenditure (Rs.8) x 100% = 25% only.
- Compound interest is an interest that includes all of the accumulated previous year interests on a loan.
- It is calculated by initial principal x ( 1 + annual interest rate raised to the number of compound periods -1)
Sales Tax/Value-Added Tax/Goods and Service tax
- Sales tax is the tax that is added by the government on the purchase of a particular item. This tax is then collected by the shopkeeper from the customer and they give it to the government.
- For example, these types of questions can be asked in such a way that if a roller skate at a shop is the cost at the rate of Rs 450 and the tax charged is 5% then what will be the total bill of roller skates?
Now, if the tax is charged on Rs 100 is Rs 5, then on Rs 450 taxes charged will be 5/100 x 450 = 22.50. So your bill will be the cost of the item + sales tax i.e 450 + 22.50 = 472.50.
Exercise Discussion of RD Sharma Class 8 Maths Solutions Chapter 13: Profit Loss Discount And Value Added Tax
- There are a total of 70 questions covered in three exercises of this chapter.
- Exercise 13.1 contains 24 questions in which you are required to find out the gain or loss percentage in different questions.
- Exercise 13.2 contains 25 questions based on the topic of simple interest, compound interest or the discount.
- Exercise 13.3 consists of 21 questions in which you are required to find out value-added tax to the situations arisen in the questions.
Benefits of RD Sharma Class 8 Maths Solutions Chapter 13: Profit Loss Discount And Value Added Tax by Instasolv
- RD Sharna Class 8 Maths exercises for Chapter 13 might appear difficult for you as the problems mentioned are of advanced level. If you are unable to find the solutions to the questions you might lose interest in the maths subject.
- We dedicatedly work to render you the easy to understand solutions for RD Sharma Solutions for Class 8 Maths Chapter 13 of profit loss, discount and value-added tax. These solutions will not only help you solve the questions but will also enhance your interest in the subject.
- If you still have any further doubts in the chapter, you can contact us anytime 24×7 and our experts will answer your queries.