Money

 Mind Maps

Class V - maths: Money
One Word Answer Questions:
Q) Which is widely accepted for the payment of goods?
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Q) Cost of 1 chocolate is Rs 2, What is the cost for 5 chocolate?
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Q) Cost of 5 pencils is Rs 30, What is the cost of 1 pencil?
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Q) When selling price is more than the cost price, what we get?
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Q) When the selling price is less than the cost price, what we get?
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Q) Finding the price of one item of a kind is called finding the unit price, and the method is called the?
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Q) The price at which an item is bought is called the?
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Q) The price at which an item is sold is called the?
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Q) A shopkeeper bought a dictionary for Rs 162.50 and sold it for Rs 195.00. What is his profit or loss?
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Q) If C.P = S.P, then there will be?
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Short Answer Questions:
Q) Edward bought 5 pens for Rs 60. How much money will he pay to buy 12 pens of the same kind?
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Q) What is selling price and cost price?
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Q) What is profit and loss?
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Q) Riya bought 6 notebooks for Rs 100.00. How much will 15 notebooks cost?
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Q) Write the formulas for Profit, Loss, Cost price and Selling price?
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Q) Anu bought 3 note books for ?27. How much money will she pay to buy 7 books of the same kind?
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Q) John bought a mobile phone for ? 2200 and sold it for 450 less. What was the selling price of the mobile phone?
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Q) Bharti made a profit of ? 68 on selling her purse for ? 320.00. What was the cost price of the purse?
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Long Answer Questions:
Q) A shop keeper bought a book for Rs 189.60 and sold it for Rs 239.00. What is his profit or loss?
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Q) Mr Sastri bought a box of pencils for Rs 80 and sold it for Rs 39.50. Did he make a profit or loss, and how much?
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Q) Anita made a profit of Rs 49.75 on selling a pair of gloves for Rs 254.00. What was the cost price of the pair of gloves?
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Q) Teju bought a bag of sugar for Rs 1230 and sold it for Rs 56 less. What was the selling price of the bag of sugar?
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Q) A man bought an old scooter for Rs 10,000 and sold it at a profit of Rs 350.00. What was the selling price?
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Q) A person bought a hat for ?150.00 and sold it for ?175?
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Q) Seema bought a bangle box for ?120 and sold it for ? 80. Did she make a profit or loss?
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Q) What is selling price and cost price? Give an examples?
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Q) What is profit and loss? Give an examples?
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Q) A man bought an old bicycle for ? 1700 and sold it with a profit of ? 120. What was the selling price of the bicycle?
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MONEY

Definition
"Anything which is widely accepted for the payment of goods is known as Money".

THE UNITARY METHOD

"Finding the price of one item of a kind is called finding the unit price, and the method is called the Unitary Method".

Example: Anu bought 3 note books for ₨27. How much money will she pay to buy 7 books of the same kind?
Solution:First, we need to find the price of 1 note book.
Cost of 3 note books = ₨27
Cost of 1 note book = ₨27 ÷ 3
= ₨9
Cost of 7 books = ₨9 × 7 =₨ 63
So, Anu needs to pay₨ 63 to buy 7 books.

Profit And Loss
• The price at which an item is bought is called the cost price
• The price at which an item is sold is called the selling price
• When the selling price is more than the cost price, there is a Profit.

Profit = Selling price - Cost price.

• When the cost price is more than the selling price, there is a Loss.

Loss = Cost price - Selling price.

Examples:

1. A person bought a hat for ₨150.00 and sold it for ₨175.
What is his profit or loss?
Solution: Cost Price = ₨150.00
Selling price = ₨175.00
Here, the selling price is more than the cost price.
So, there is a profit.
Profit = S.P - C.P
= 175 - 150
= ₨25.
The person made a profit of ₨25.

2. Seema bought a bangle box for ₨120 and sold it for ₨ 80. Did she make a profit or loss?
Solution:Cost price =₨120
Selling Price = ₨80.
Here, cost price is more than the selling price.
So, there is a loss.
Loss = C.P. - S.P.
= ₨120 - ₨80
= ₨40.
So, Seema had a loss of ₨ 40.

CALCULATING COST PRICE AND SELLING PRICE

We need to know the cost price and selling price to find the profit or loss.
So, the formulae for profit and loss have three terms each:
C.P., S.P., and Profit or Loss.
We can find the third quantity if the two quantities are known.

Calculating Cost Price

Examples:

1. Anuj sold a pair of t-shirts for ₨ 430.00. He suffered a loss of ₨ 13.50. What was the cost price of the t-shirts?
Solution:Selling price = ₨430. 00
Loss = ₨13.50
Cost price = Selling price + Loss
= 430 + 13.50
= ₨443.50.

2. Bharti made a profit of ₨68 on selling her purse for ₨ 320.00. What was the cost price of the purse?
Solution:Selling Price = ₨ 320.00
Profit = ₨68.
Cost price = Selling Price - Profit
= 320.00 - 68.00
= ₨252
So, the cost price of the purse was ₨ 252.

Calculating Selling Price

Examples:

1. A man bought an old bicycle for ₨ 1700 and sold it with a profit of ₨ 120.
What was the selling price of the bicycle?
Solution: Cost Price =₨1700
Profit = ₨ 120
Selling Price = Cost Price + Profit
= 1700 + 120
= ₨1820.
So, the Man sold the bicycle for₨ 1820.

2. John bought a mobile phone for ₨ 2200 and sold it for 450 less. What was the selling price of the mobile phone?
Solution:Cost Price = ₨2200
Loss =₨450
Selling Price = Cost Price - Loss
= 2200 - 450
=₨1750
So, John sold the mobile phone for ₨1750.

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