EXAMPLES ON FINDING PROFIT AND LOSS PERCENTAGE

For each of the following transactions, find :

(i)  The profit or loss

(ii) the percentage profit or loss.

Example 1 :

I bought a CD set for $50 and then sold it for $30.

Solution :

Cost price of CD  =  $50

Selling price of CD =  $30

Since Cost price > Selling price, we decide loss happens.

Loss  =  50-30

Loss  =  20

Loss %  =  (Loss/cost price) ⋅ 100%

Loss %  =  (20/50) ⋅ 100%

Loss %  =  0.4 ⋅ 100%

Loss %  =  40%

So, i receive 40% loss of selling CD.

Example 2 :

Jon bought a car for $5000 and then sold it for $6250.

Solution :

Cost price of car  =  $5000

Selling price of car =  $6250

Since Selling price > Cost price, we decide profit happens.

Profit  =  6250-5000

Profit  =  1250

Profit %  =  (Profit/cost price) ⋅ 100%

Profit %  =  (1250/5000) ⋅ 100%

Profit %  =  (0.25) 100%

Profit %  =  25%

So, he has received 25% profit of selling car.

Example 3 :

Jodie bought a bicycle for $200 and then sold it for $315.

Solution :

Cost price of bicycle  =  $200

Selling price of bicycle  =  $315

Since selling price > cost price, we decide profit happens.

Profit  =  315-200

Profit  =  115

Profit %  =  (Profit/cost price) ⋅ 100%

Profit %  =  (115/200) ⋅ 100%

Profit %  =  (0.575) 100%

Profit %  =  57.5%

So, he receives 57.5% profit of selling bicycle.

Example 4 :

Hilda sold for $816 a refrigerator which cost her $680.

Solution :

Cost price of refrigerator  =  $816

Selling price  =  $680

Cost price > Selling price

Loss  =  Cost price - Selling price

Loss  =  816-680

Loss  =  136

Loss %  =  (Loss/cost price) ⋅ 100%

Loss %  =  (136/816) ⋅ 100%

Loss %  =  16.6%

He has received 16.6% loss.

Example 5 :

Frank sold for $422.50 a kitchen sink which cost him $325.

Solution :

Cost price of sink  =  $325

Selling price  =  $422.50

Selling price > cost price

Profit  =  422.50-325

Profit  =  97.5

Profit %  =  (Profit/cost price) ⋅ 100%

Profit %  =  (97.5/325) ⋅ 100%

Profit %  =  (0.3) 100%

Profit %  =  30%

He has received 30% of profit. 

Example 6 :

A second hand car dealer purchased a motor vehicle for $22500. It was sold one week later for $27000. Find the profit made on the sale of the car, then express this profit as a percentage of the cost price.

Solution :

Cost price of the car  =  $22500

Selling price of the car  =  $27000

Selling price > Cost price

Profit  =  27000-22500

Profit  =  4500

Profit %  =  (4500/22500) ⋅ 100%

=  20%

So, the required profit is 20%.

Example  7 :

A retailer buys forty pairs of running shoes for a total price of $3400. He then sells the shoes for $123.25 per pair. Calculate the total profit and express this profit as a percentage of the cost price.

Solution :

Amount he has invested  =  $3400  =  Cost price

Selling price of each pair  =  $123.25

Selling price of 40 pairs  =  40(123.25)

Selling price  =  4930

Profit  =  4930 - 3400

=  1530

Profit %  =  (1530/3400) ⋅ 100%

=  45%

So, the required profit percentage is 45%.

Example 8 :

A newsagent buys 120 magazines for $1.20 each. If only 72 of the magazines are sold for $1.95 each, determine whether the newsagent made a profit or a loss. Express the profit or loss as a percentage of the cost price.

Solution :

Number of magazines he bought  =  120

Number of magazines he sold out  =  72

Cost price of each magazine  =  1.20

Selling price of each magazine  =  $1.95

Amount he has invested  =  120(1.20)

Cost price  =  $144

Selling price  =  72(1.95)

=  $140.4

Loss  =  144 - 140.4

=  3.6

Loss %  =  (3.6/144) x 100%

=  2.5%

So, 2.5% loss happened.

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