PROFIT AND LOSS PROBLEMS
Problem 1 :
John bought a car for $18000 and sold it to his friend for $18900. Find the profit percentage.
Solution :
Profit = Selling price - Cost price
Profit = 18900 - 18000
Profit = 900
Profit % = (Profit/Cost price) ⋅ 100 %
Profit % = (900/18000) ⋅ 100 %
Profit % = 5 %
Problem 2 :
Peter bought an item at $300 and sold it for $240. Find the loss percentage.
Solution :
Loss = Cost price - Selling price
Loss = 300 - 240
Loss = 60
Loss % = (Loss/Cost price) ⋅ 100 %
Loss % = (60/300) ⋅ 100 %
Loss % = 20 %
Problem 3 :
A sold a laptop to B at 15% profit. B sold the same laptop to C at 20% profit. If C had paid $1656 for it, find the price at which A bought the laptop.
Solution :
Let x be the price at which A bought the laptop.
Cost price of B = 115% of x = 1.15x
Cost price of C = 120% of 1.15x = 1.38x
It is given that C paid $1656.
Then, we have
1.38x = 1656
Divide both sides by 1.38
x = 1656/1.38
x = 1200
So, the price at which A bought the laptop is $1200.
Problem 4 :
Michael sold an item at a loss of 5%. If he had sold at a profit of 20%, he would have got $100 more. Find the cost is the cost price of the item.
Solution :
Let x be the cost price of the chair
S.P (-5%) = 95% of x
S.P (-5%) = 0.95x -----(1)
S.P (+10%) = 120% of x
S.P (+10%) = 1.2x -----(2)
In (2), he got $100 more than (1).
Then, we have
(2) - (1) = 100
1.2x - 0.95x = 100
0.25x = 100
Divide both sides by 0.25
x = 100/0.25
x = 10000/25
x = 400
So, the cost price of the item is $400.
Problem 5 :
A man bought 20 units of a product at the cost of $400 and sold 5 units at the cost of $125. Find the profit or loss percentage.
Solution :
Cost price for 20 units = $400
Cost price for one unit = 400/20 = $20
Selling price for 5 units = $125
Selling price for one unit = 125/5 = $25
Because selling price is more than cost price, there is profit.
Profit = Selling price - Cost price
Profit = 25 - 20
Profit = 5
Profit % = (Profit/Cost price) ⋅ 100 %
Profit % = (5/20) ⋅ 100 %
Profit % = 25 %
To learn profit and loss shortcuts,
Apart from the stuff given above, if you need any other stuff in math, please use our google custom search here.
If you have any feedback about our math content, please mail us :
v4formath@gmail.com
We always appreciate your feedback.
You can also visit the following web pages on different stuff in math.
WORD PROBLEMS
Word problems on simple equations
Word problems on linear equations
Word problems on quadratic equations
Area and perimeter word problems
Word problems on direct variation and inverse variation
Word problems on comparing rates
Converting customary units word problems
Converting metric units word problems
Word problems on simple interest
Word problems on compound interest
Word problems on types of angles
Complementary and supplementary angles word problems
Trigonometry word problems
Markup and markdown word problems
Word problems on mixed fractrions
One step equation word problems
Linear inequalities word problems
Ratio and proportion word problems
Word problems on sets and venn diagrams
Pythagorean theorem word problems
Percent of a number word problems
Word problems on constant speed
Word problems on average speed
Word problems on sum of the angles of a triangle is 180 degree
OTHER TOPICS
Time, speed and distance shortcuts
Ratio and proportion shortcuts
Domain and range of rational functions
Domain and range of rational functions with holes
Graphing rational functions with holes
Converting repeating decimals in to fractions
Decimal representation of rational numbers
Finding square root using long division
L.C.M method to solve time and work problems
Translating the word problems in to algebraic expressions
Remainder when 2 power 256 is divided by 17
Remainder when 17 power 23 is divided by 16
Sum of all three digit numbers divisible by 6
Sum of all three digit numbers divisible by 7
Sum of all three digit numbers divisible by 8
Sum of all three digit numbers formed using 1, 3, 4
Sum of all three four digit numbers formed with non zero digits
Sum of all three four digit numbers formed using 0, 1, 2, 3
Sum of all three four digit numbers formed using 1, 2, 5, 6
Recent Articles
-
Using Translation Vectors to Transform Figures Worksheet
Aug 02, 21 07:12 AM
Using Translation Vectors to Transform Figures Worksheet
-
Find Translation of a Point Along the Given Vector
Aug 02, 21 05:03 AM
Find Translation of a Point Along the Given Vector
-
Translation of the Image Under the Point Practice Problems
Aug 02, 21 04:03 AM
Translation of the Image Under the Point Practice Problems
