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

From Formulas of Profit and Loss to HOME PAGE


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.



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.



Share this page: What’s this?

Recent Articles

  1. Types of Fractions |Proper Fraction |Improper Fraction |Mixed Fraction

    Mar 02, 24 05:31 PM

    Fractions
    The three types of fractions are : Proper fraction, Improper fraction, Mixed fraction, Proper fraction: Fractions whose numerators are less than the denominators are called proper fractions. (Numerato…

    Read More

  2. Subtraction of Fractions having the Same Denominator | Like Fractions

    Mar 02, 24 04:36 PM

    Subtraction of Fractions having the Same Denominator
    To find the difference between like fractions we subtract the smaller numerator from the greater numerator. In subtraction of fractions having the same denominator, we just need to subtract the numera…

    Read More

  3. Addition of Like Fractions | Examples | Worksheet | Answer | Fractions

    Mar 02, 24 03:32 PM

    Adding Like Fractions
    To add two or more like fractions we simplify add their numerators. The denominator remains same. Thus, to add the fractions with the same denominator, we simply add their numerators and write the com…

    Read More

  4. Comparison of Unlike Fractions | Compare Unlike Fractions | Examples

    Mar 01, 24 01:42 PM

    Comparison of Unlike Fractions
    In comparison of unlike fractions, we change the unlike fractions to like fractions and then compare. To compare two fractions with different numerators and different denominators, we multiply by a nu…

    Read More

  5. Equivalent Fractions | Fractions |Reduced to the Lowest Term |Examples

    Feb 29, 24 05:12 PM

    Equivalent Fractions
    The fractions having the same value are called equivalent fractions. Their numerator and denominator can be different but, they represent the same part of a whole. We can see the shade portion with re…

    Read More