We will practice the questions given in the worksheet on finding profit or loss.
1. Find the profit or loss in each of the following cases:
(i) Cost Price = $ 270, Selling Price = $ 300
(ii) Cost Price = $ 325, Selling Price = $ 300
(iii) Selling Cost Price = $ 895, Cost Price = $ 818
(iv) Selling Price = $ 1000, Cost Price = $ 1080
2. If cost price of a Pen is $ 19 and Selling Price is $ 24.Is there a gain or loss?
3. The cost of a Washing Machine is $ 8,450. If Selling Price is $ 8075, what is the gain or loss?
4. Aaron bought an article for $ 575.00 and spent $ 25 on its
transportation. He sold it for $ 550. Find his profit or loss?
5. Ben buys a basket of mangos at $ 250. He sells the basket at $ 225. Find his gain or loss.
6. Sam buys a chair for $ 300. He pays $ 25 as transport charges and sells it to Mr. John for $ 420. Find his profit or loss.
Answers for the worksheet on finding profit or loss are given below.
1. (i) Profit = $ 30
(ii) Loss = $ 50
(iii) Profit = $ 77
(iv) Loss = $ 80
2. Gain of $ 5
3. Loss of $ 375
4. Loss of $ 50
5. Loss of $ 25
6. Loss of $ 95` Finding Profit or Loss