Subscribe to our YouTube channel for the latest videos, updates, and tips.
Examples on Profit and Loss
We will learn how to solve different examples on profit and loss. We know, cost price is the price at which an article is purchased and selling price is the price at which an article is sold.
Solved examples:
1. John sold two digital cameras at $3,000 each. On one he gains 20% and on the other he loses 20%. What percent does he gain on the whole transaction?
Solution:
For the first digital camera:
Gain = 20%.
Let cost price (C.P.) = $100.
Therefore, selling price (S.P.) = $(100 + 20)
= $120.
When selling price (S.P.) is $ 120, cost price (C.P.) is $100.
Therefore, when selling price (S.P.) is $300, cost price (C.P.)
= $100/120 × 300
= $(100 × 300)/120
= $30000/120
= $2,500.
Therefore, cost price (C.P.) of the first digital camera = $2,500.
For the second digital camera:
Loss = 20%
Let cost price (C.P.) = $100.
Therefore, selling price (S.P.) = $(100 - 20) = $80
When selling price (S.P.) is $80, the cost price (C.P.) is $100.
Therefore, when selling price (S.P.) is $300, the cost price (C.P.)
= $100/80 × 300
= $30000/80
= $3,750.
Therefore, cost price (C.P.) of the second digital camera = $3,750.
Thus, total cost price (C.P.) of two digital cameras = $2,500 + $3,750 = $6,250
Total selling price (S.P.) of two digital cameras = $(2 × 3,000) = $6,000.
Thus, cost price (C.P.) > selling price (S.P.) so, there is a loss
Loss = cost price (C.P.) - selling price (S.P.)
= $6,250 - $6,000
= $250.
Percentage loss = loss/cost price × 100
= 250/6250 × 100
= 25000/6250
= 4%
Therefore, John loses 4% on the whole transaction.
More examples on profit and loss:
2. Brad bought a laptop for $8,000 and spent $500 on its spares. He later sold it for $9,500. Find his gain or loss percent.
Solution:
Cost price includes the overhead expenses also.
Therefore, C.P. = $8,000 + $500 = $8,500
and S.P. = $9,500
Since, S.P. > C.P., there is a profit
Profit = S.P. - C.P.
= $9,500 - $8500
= $1,000
Profit percent = profit/(C.P.) × 100
= 1000/8500 × 100
= 200/17
= 111317%
Therefore, Brad’s gain percent is 111317%.
To find Profit or Loss when Cost Price and Selling Price are Given
To find Selling Price when Cost Price and Profit or Loss are Given
To find Cost Price when Selling Price and Profit or Loss are Given
Calculate Profit or Loss Percent
Calculate Profit and Selling Price
Calculate Loss and Selling Price
From Examples on Profit and Loss 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.
Recent Articles
-
Worksheet on Average | Word Problem on Average | Questions on Average
May 19, 25 02:53 PM
In worksheet on average we will solve different types of questions on the concept of average, calculating the average of the given quantities and application of average in different problems. -
8 Times Table | Multiplication Table of 8 | Read Eight Times Table
May 18, 25 04:33 PM
In 8 times table we will memorize the multiplication table. Printable multiplication table is also available for the homeschoolers. 8 × 0 = 0 8 × 1 = 8 8 × 2 = 16 8 × 3 = 24 8 × 4 = 32 8 × 5 = 40 -
How to Find the Average in Math? | What Does Average Mean? |Definition
May 17, 25 04:04 PM
Average means a number which is between the largest and the smallest number. Average can be calculated only for similar quantities and not for dissimilar quantities. -
Problems Based on Average | Word Problems |Calculating Arithmetic Mean
May 17, 25 03:47 PM
Here we will learn to solve the three important types of word problems based on average. The questions are mainly based on average or mean, weighted average and average speed. -
Rounding Decimals | How to Round a Decimal? | Rounding off Decimal
May 16, 25 11:13 AM
Rounding decimals are frequently used in our daily life mainly for calculating the cost of the items. In mathematics rounding off decimal is a technique used to estimate or to find the approximate
● Profit And Loss - Worksheets
Worksheet on Calculating Profit or Loss
Worksheet on Calculating Cost Price
Worksheet on Calculating Selling Price
Worksheet on Cost Price and Selling Price
Worksheet on Calculating Profit or Loss Percent
Worksheet on Profit or Loss Percent
Worksheet on Calculating Overhead Charges
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.