Finding Profit or Loss

We will solve different types of problems on finding profit or loss.

We know, when Selling Price (S.P.) is greater than the Cost Price (C.P.) we have a gain (Profit) and when Cost Price (C.P.) is greater than the Selling Price (S.P.) we have a loss.

General formula to find whether there is profit or loss:

Profit or Gain = S.P. - C.P. = Selling Price - Cost Price

Loss = C.P. - S.P. = Cost Price - Selling Price

CALCULATING PROFIT AND LOSS

Let us consider some examples.

1. The cost of a wrist watch is Rs 150. The shopkeeper sells it for Rs. 180. Find the profit or loss.

Solution:

C.P. of the wrist watch = Rs. 150

S.P. of the wrist watch = Rs. 180

As S .P . > C.P., a profit results.

Profit = S.P. - С.Р. = Rs. 180 - Rs. 150

                           = Rs. 30


2. The cost of a book was Rs 200. It was sold for Rs 175. Find the profit or loss

Solution:

C.P. of the book = Rs. 200

S.P. of the book = Rs. 175

As C .P. > S.P., a loss results.

Loss = C.P. - S.P.

       = Rs. 200 - Rs. 175

       = Rs. 25

Profit or loss is always calculated on the cost price.

More solved examples on finding profit or loss:

3. A shopkeeper buys a football for $ 150 and sells it at $ 210. What is his profit or loss?

Cost Price of foot ball = $ 150

Selling Price of foot ball = $ 210

210 > 150

As, S.P. > C.P.

So, he makes a profit

Profit = S.P. - C.P.

           = $ (210 - 150)

           = $ 60.


4. A merchant bought a table fan for $ 575 and sold for $ 500. Find the loss of the merchant in the transaction?

Cost Price of the table fan = $ 575

Selling Price of the table fan = $ 500

Loss = Cost Price - Selling Price

       = $ (575 - 500)

       = $ 75

Therefore, loss of the merchant is $ 75.


5. A man bought 360 eggs at $ 18 per dozen. 40 egg where broken and 20 egg were rotten. What would be his profit or loss if he sells the rest at $ 20 per dozen?

As 12 things makes a dozen,

He bought = (360 ÷ 12) dozen

                = 30 dozen.

His cost price = $ 18 × 30 = $ 540

He sold total number of eggs = (360 - 40 - 20) = 300

Therefore, he sold = (300 ÷ 12) dozen eggs

                           = 25 dozen eggs.

His selling price = $ 25 × 20

                       = $ 500

As 500 < 540, that is S.P. < C.P.

He suffers a loss,

His loss = C.P. - S.P.

            = $ (540 - 500)

            = $ 40.

Profit and Loss.

Formulas of Profit and Loss.

To find Cost Price or Selling Price when Profit or Loss is given.

Worksheet on Profit and Loss.

You might like these



5th Grade Numbers Page

5th Grade Math Problems

From Formulas of 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. Worksheet on Area of a Square and Rectangle | Area of Squares & Rectan

    Jul 19, 25 05:00 AM

    Area and Perimeter of Square and Rectangle
    We will practice the questions given in the worksheet on area of a square and rectangle. We know the amount of surface that a plane figure covers is called its area. 1. Find the area of the square len…

    Read More

  2. Area of Rectangle Square and Triangle | Formulas| Area of Plane Shapes

    Jul 18, 25 10:38 AM

    Area of a Square of Side 1 cm
    Area of a closed plane figure is the amount of surface enclosed within its boundary. Look at the given figures. The shaded region of each figure denotes its area. The standard unit, generally used for…

    Read More

  3. What is Area in Maths? | Units to find Area | Conversion Table of Area

    Jul 17, 25 01:06 AM

    Concept of Area
    The amount of surface that a plane figure covers is called its area. It’s unit is square centimeters or square meters etc. A rectangle, a square, a triangle and a circle are all examples of closed pla…

    Read More

  4. Worksheet on Perimeter | Perimeter of Squares and Rectangle | Answers

    Jul 17, 25 12:40 AM

    Most and Least Perimeter
    Practice the questions given in the worksheet on perimeter. The questions are based on finding the perimeter of the triangle, perimeter of the square, perimeter of rectangle and word problems. I. Find…

    Read More

  5. Formation of Square and Rectangle | Construction of Square & Rectangle

    Jul 16, 25 11:46 PM

    Construction of a Square
    In formation of square and rectangle we will learn how to construct square and rectangle. Construction of a Square: We follow the method given below. Step I: We draw a line segment AB of the required…

    Read More