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

                    = 11\(\frac{13}{17}\)%

Therefore, Brad’s gain percent is 11\(\frac{13}{17}\)%.

Profit And Loss

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

Examples on Profit and Loss

Calculate Profit Percent

Calculate Loss Percent

Calculate Profit or Loss Percent

Calculate Profit and Selling Price

Calculate Loss and Selling Price

Overhead Charges

Discount and Discount Percent







6th Grade Math Practice

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.



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.

Share this page: What’s this?

Recent Articles

  1. Place Value | Place, Place Value and Face Value | Grouping the Digits

    Oct 04, 24 09:47 AM

    Place Value of 3-Digit Numbers
    The place value of a digit in a number is the value it holds to be at the place in the number. We know about the place value and face value of a digit and we will learn about it in details. We know th…

    Read More

  2. Worksheet on Subtraction | Practice the Questions | Free Answers

    Oct 04, 24 01:28 AM

    In worksheet on subtraction, all grade students can practice the questions on subtracting numbers with more than two digits. This exercise sheet on subtraction can be practiced by the students

    Read More

  3. Subtraction Word Problems - 2-Digit Numbers | Subtraction Problems

    Oct 03, 24 03:22 PM

    Understand the concept on subtraction word problems - 2-digit numbers for the second grade. Read the question carefully to subtract the two-digit numbers to find the differences and follow the

    Read More

  4. Worksheet on Checking Subtraction Using Addition | Free Answers | Math

    Oct 03, 24 02:22 PM

    Checking Subtraction using Addition
    Here we can use addition to check the answer for the subtraction. Subtract ans check your answer. Find the difference and check your answer using addition.

    Read More

  5. Check for Subtraction and Addition | Checking Subtraction | Problems

    Oct 03, 24 01:13 PM

    Checking Subtraction with Addition
    We will learn to check for subtraction and addition answers after solving. Difference of two numbers is correct when the sum of the subtrahend number and the difference is equal to the minuend.

    Read More

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

Worksheet on Calculating Discount

Worksheet on Discount Percent

Worksheet on Calculating Discount on Marked Price