FINDING PROFIT OR LOSS PERCENTAGE WORKSHEET 

For each of the following transactions, find :

(i)  The profit or loss

(ii) the percentage profit or loss.

Problem 1 :

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

Solution

Problem 2 :

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

Solution

Problem 3 :

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

Solution

Problem 4 :

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

Solution

Problem 5 :

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

Solution

Problem 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

Problem 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

Problem 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

Problem 9 :

There would be 10% loss, if a toy is sold at $10.80 per piece. At what price should it be sold to earn a profit of 10%.

Solution

Problem 10 :

The marked price of an article is 20% above the cost price. A discount of 10% is allowed to a customer .Find the profit per cent.

Solution

Problem 1 :

A washing machine has a selling price of $420, but a 15% discount is given. Find the actual price paid for the washing machine.

Solution

Problem 2 :

30% of a farmer’s crop was barley and the rest was wheat. If he planted 750 hectares with barley, what area was planted with wheat?

Solution

Problem 3 :

At the grocery store, Gigi buys apples, a magazine, and a gallon of milk. The apples are priced per pound. In her state, there is no sales tax on food. If the total cost of her items is given by the function

C(p) = 1.89p + 1.07(3.99) + 4.49

then the term

1.07(3.99)

most likely represents

a)  the cost of one gallon of milk.

b) the per-pound cost of the apples.

c) the cost of the magazine, including tax.

d) the cost of the magazine, not including tax.

Solution

Problem 3 :

At the grocery store, Gigi buys apples, a magazine, and a gallon of milk. The apples are priced per pound. In her state, there is no sales tax on food. If the total cost of her items is given by the function

C(p) = 1.89p + 1.07(3.99) + 4.49

then the term

1.07(3.99)

most likely represents

a)  the cost of one gallon of milk.

b) the per-pound cost of the apples.

c) the cost of the magazine, includinq tax.

d) the cost of the magazine, not including tax.

Solution

Problem 4 :

When a homeowner hires a contractor to renovate a bathroom, the homeowner is charged for both labor and materials. By law, the contractor can charge sales tax on the materials, but not on the labor. If the contractor quotes the homeowner $3,000 for materials and $40 per hour for labor, and sales tax in the homeowner's state is 5.5%, which equation represents the total cost for the bathroom renovation if it takes the contractor h hours to complete the job?

a) c = (40h + 3,000)(1.055)     b) c = 1.055(40 + 3,000)h

c) c = 40h(l.055) + 3,000        d) c = 40h + 1.055(3,000)

Solution

Problem 5 :

The sale price of a laptop is $505.44 after 35% discount and 8% additional tax. What was the original price of the laptop before discount and tax?

Solution

Problem 6 :

A family sees the kitchen they want priced at $7200 but it is offered at a discount of 40% in a sale. What is the sale price?

Solution

Problem 7 :

A car cost $11500 new but lost 35% of its value in the first three years. What is it worth after three years? This loss in value is called depreciation

Solution

Problem 8 :

A mobile phone was sold for $1040 at a gain of 4%. What will be the gain or loss % if it is sold for $960?

Solution

Problem 9 :

The marked price of a shirt is $940 and the shopkeeper allows a discount of 15% on it .Find the discount and the selling price of the shirt.

Solution

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