Calculate Profit and Profit Percent

We will learn how to calculate profit and profit percent.

If selling price is more than the cost price (S.P. > C.P.), there is a profit.

Profit = S.P. – C. P.          

or, S. P. = P + C. P.           

C.P. = S. P. – P  

Profit percent → profit on $ 100 is called profit%

Profit% is always calculated on C.P

So, profit% = profit/C.P x 100

Solved examples:

Jack purchased 400 calculators at $200 each. He spent $5 on packing each calculator, paid $100 to the carrying for loading and $400 on transportation. He sold 300 at a rate of $280 each and 100 at the rate of $180 each. Find his profit or loss per cent in the whole transportation.

Solution:             

C.P. of 1 calculator = $200

C.P. of 400 calculators = $200 x 400

                               = $80000

Money spent on packing 1 calculator = $5

Money spent on packing 400 calculators = $400 x 5 = $2000

Overhead expenses = $(2000 + 100 + 400)

                           = $2500

C.P. of 400 calculators = Actual C.P. + Overhead expenses

                               = $80000 + $2500

                               = $82500

S.P. of 400 calculators = S.P. of 300 calculators + S.P. of 100 calculators

S.P. of 1 calculator = $280

S.P. of 300 calculators = $280 x 300 = $84000

S.P. of 1 calculator = $180

S.P. of 100 calculators = $180 x 100 = $18000

S.P. of 400 calculators = $84000 + $18000 = $102000

S. P. > C. P., there is profit, therefore, profit – S.P. – C.P.

Profit = $(102000 – 82500) = $19500

Profit% = P/C.P. x 100%

           = 19500/82500 x 100%

           = 23.6%





7th Grade Math Problems

From Calculate Profit and Profit Percent to HOME PAGE




Didn't find what you were looking for? Or want to know more information about Math Only Math. Use this Google Search to find what you need.



New! Comments

Have your say about what you just read! Leave me a comment in the box below. Ask a Question or Answer a Question.