Cost price: $80
Selling price: $125
The price at which the watch was bought is the cost price. The price at which the watch was sold is the selling price. The selling price is more than the cost price, so the watch was sold at a profit or gain.
To calculate the dollar value of the profit or gain = Selling price (S.P) – Cost price (C.P)
= $125 – $80 = $45
To calculate the Percentage of the profit or gain = Gain/C.P x 100
=45/80 x 100 = 60%
Also….
Cost price: $250
Selling price: $210
The price at which the scooter was bought is the cost price. The price at which the scooter was sold is the selling price. The selling price is less than the cost price, so the scooter was sold at a loss.
To calculate the dollar value of the loss = C.P – S.P
Loss = $250 – $210 = $40
Loss % = 40/250 x 100 = 16%
Exercises
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Question 1 of 6
1. Question
C.P = $12.00 S.P = $15.00 Calculate the profit and profit percent?
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Profit = $ = $
Calculation for Profit %
Profit % = / x = %
CorrectIncorrect -
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Question 2 of 6
2. Question
At what price should Sandra sell her car for which she paid $25,000, to make a profit of 15%?
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Remember ratios!
WORKING
100% = C.P
Profit % = $ x % = x = $
Answer = Sandra should sell the car for .
Correct 7 / 7 PointsIncorrect / 7 Points -
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Question 3 of 6
3. Question
Jocelyn bought 3 bags a total of $159 (each costing the same). They were all sold at different prices. Calculate the profit or loss on each bag and the total profit or loss percent for the bags.
S.P $75.00 S.P $50.00 S.P $66.00 Approximate your answers to the hundredth.
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C.P S.P Profit/Loss? Profit/loss % Bag 1 $53.00 $ Profit = $ x 100 = % Bag 2 $53.00 $ = $ x 100 = % Bag 3 $53.00 $ = $ x 100 = % Total $159.00 $ Total Profit/Loss on the bags
= $ – $ =$
% = x 100 = %
Correct 22 / 22 PointsIncorrect / 22 Points -
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Question 4 of 6
4. Question
An appliance dealer bought a stove for $3500. The stove got a bit damaged during shipment so the dealer sold it at a loss of 25%. At what price was it sold?
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Working:
100% = $
= x = x = $
Answer = The appliance dealer sold it for $
CorrectIncorrect -
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Question 5 of 6
5. Question
Matthew, a fruit seller, bought apples $165. per crate of 100 apples.
a) At what price must she sell each apple to make a profit of 40%?
b) 12 apples were unsold, so Matthew sold the apples at $2.00 each. Calculate the gain or loss and gain or loss percent of the sale of these apples. Approximate your number to the nearest whole number.
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a) Answer = Selling price for each apple is $ .
WORKING:
100% = $
% = $ x % = $ x = $
1 apple will be sold as $ ÷ =$
b) Answer =The percent of the sale of apples is % ⇐ percent approximate as a whole number
WORKING:
C.P = 12 apples cost @ $ = $
S.P = 12 apples sold @$2.00 = $
Profit or Loss? : = $ –$ = $
% = $ ÷ $ = }⇐ approximate to the hundredth
Correct 24 / 24 PointsIncorrect / 24 Points -
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Question 6 of 6
6. Question
Narissa sold bracelets at $35.00 each at a profit of 20%.
a) What was the cost of each bracelet?
b) What is Narissa’s profit if she sold 52 bracelets?
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a) Answer = The cost of each bracelet was $ .
WORKING
S.P = $
S.P % = + = %
Therefore:
% = $
C.P = % = $ ⇐ approximate to the nearest hundredth
b)Answer = $ is the profit for the sales of 52 bracelets.
Profit =$ = $
Total profit for sale of 52 bracelets = = $
Correct 14 / 14 PointsIncorrect / 14 Points -
