Formulas of Profit and Loss

Formulas of profit and loss are given below.

When the Selling Price (SP) is greater than Cost Price (CP) the man makes a Profit or Gain.

Selling Price (SP) > Cost Price (CP) → Profit or Gain

Profit = Selling Price (SP) – Cost Price (CP)


If profit % is required to find then,

Profit % = (Profit/Cost Price) × 100

When the Selling Price (SP) is less than Cost Price (CP) the man suffers a Loss.

Selling Price (SP) < Cost Price (CP) → Loss

Loss = Cost Price (CP) - Selling Price (SP)

Depending on the formulas of profit and loss let us consider some examples:

1. Mr. Smith bought a book for $ 85 and sold it for sold it for $ 115. Find his profit or loss percent.

Solution:

Cost Price (CP) = $ 85;

Selling Price (SP) = $ 115

Since SP > CP,

Therefore, Mr. Smith makes a profit.

Profit = Selling Price (SP) – Cost Price (CP)

        = 115 – 85

        = $ 30

Therefore, profit % = (Profit/Cost Price) × 100

                            = (30/85) x 100 

                            = 35.29 %

Answers: 35.29 %

2. Mr. Brown bought a TV for $ 5800 and sold it for sold it for $ 7000. Find his profit or loss percent.

Solution:

Cost Price (CP) = $ 5800;

Selling Price (SP) = $ 7000

Since SP > CP,

Therefore, Mr. Brown makes a profit.

Profit = Selling Price (SP) – Cost Price (CP)

        = 7000 – 5800

       = $ 1200

Therefore, profit % = (Profit/Cost Price) × 100

                             = (1200/5800) x 100

                             = 20.69 % 

Answers: 20.69 %

3. Robert bought pencils for $ 150.As they were of bad quality, he had to sell them for $ 127. Find his loss or gain percent.

Solution:

Cost Price (CP) = $ 150,

Selling Price (SP) = $ 127

Since SP < CP, 

Therefore, Robert suffers a loss.

Loss = Cost Price (CP) – Selling Price (SP) 

       = 150 – 127 

       = $ 23

Therefore, loss % = (Loss/CP) × 100

                          = (23/150) × 100 

                          = 15.33% 

Answers: 15.33 %

4. Jack bought a pairs of shirt for $ 125 and sold them for $ 108. Find his loss or gain percent.

Solution:

Cost Price (CP) = $ 125,

Selling Price (SP) = $ 108

Since SP < CP, 

Therefore, Jack suffers a loss.

Loss = Cost Price (CP) – Selling Price (SP) 

       = 125 – 108

        = $ 17

Therefore, loss % = (Loss/CP) × 100

                          = (17/125) × 100

                          = 13.6 %

Answers: 13.6 %

● 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.

5th Grade Numbers Page

5th Grade Math Problems

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