To find Profit or Loss when Cost Price and Selling Price are Given
We will learn how to find profit or loss when cost price and selling price are given.
Profit percent and loss percent are always calculated on cost price (C.P.) only.
I. Formula to find profit percent when cost price and selling price are given;
Profit = selling price - cost price
Therefore, profit% = (profit/cost price) × 100%
II. Formula to find loss percent when cost price and selling price are given;
Loss = cost price - selling price
Therefore, loss% = (loss/cost price) × 100%
1. Mike buys a laptop for $840 and sells it for $900. Find his profit or loss percent.
Solution:
Cost price (C.P.) of the laptop = $840
Selling price (S.P.) of the laptop = $900
Since, S.P. > C.P., there is a profit
Profit = selling price - cost price
= $900 - $840
= $60
Profit% = (profit/cost price) × 100%
= (60/840) × 100%
= 50/7
= 7 1/7%
Therefore, the profit percent is 7 1/7%
2. Kate bought an article for $1750 and sold it for $1680. Find her gain or loss percent.
Solution:
Cost price of the article = $1750
Selling price of the article = $1680
Since, C.P. > S.P. there is a loss
Loss = cost price - selling price
= $1750 - $1680
= $70
Loss% = (loss/cost price) × 100%
= (70/1750) × 100%
= 4%
Therefore, the loss percent is 4%.
More examples to find profit or loss when cost price and selling price are given:
3. Find the profit or loss as percent; when a car is bought for $25000 is sold for $28000.
Solution:
Given, cost price of car = $25000 and selling price of it = $28000
Therefore, profit = $28000 - $25000 = $3000
Profit percent = (profit/cost price) × 100%
= (3000/25000) × 100%
= 12%
Therefore, the profit percent is 12%.
4. Larry purchases an article for $400 and sold it for $380. Calculate her gain or loss percent.
Solution:
Given, cost price of an article = $400 and selling price of it = $380
Therefore, loss = $400 - $380 = $20
Loss percent = (loss/cost price) × 100%
= (20/400) × 100%
= 5%
Therefore, the loss percent is 5%
5. Aaron bought an article for $120 is sold for $150. Find the gain or loss percent.
Solution:
Given, cost price = $120 and selling price = $150
Therefore, gain = $150 - $120 = $30
gain% = (gain/cost price) × 100%
= (30/120) × 100%
= 25%
Therefore, the gain percent is 25%
6. James bought a bicycle for $600 and is sold for $550. Find profit or loss percent.
Solution:
Given, cost price = $600 and selling price = $550
Therefore, loss = C.P. - S.P.
= $600 - $550
= $50
loss percent = (loss/cost price) × 100%
= (50/600) × 100%
= 25/3%
= 8 1/3%
Therefore, the loss percent is 8 1/3%
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
6th Grade Math Practice
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