Profit and loss
Profit and loss %
Discount and Sales tax
Hire Purchase
Exchange rate
100
state true or false:
profit=selling price[s.p]-cost price[c.p]
TRUE
100
The profit percent is found as a percent of
Cost price
100
You are purchasing a T.V for $990 T.V with 9% sales tax. What is the final price of the T.V.?
c.p = $990
sales tax = 9%
sales tax = 9/100 x $990
sales tax = $89.10
s.p = c.p + sales tax
s.p = $990 + $89.10
s.p = $1079.10
100
If a hire purchase plan is not done, then the person must buy the item in full ______________.
CASH
100
What is an exchange rate?
The price of one nation's currency in terms of another's
200
A boy had a bike for $32000 and was sold for $45000. What was the boy's profit?
profit = S.P - C.P
profit = $45000 - $32000
profit = $13000
200
What is the profit percent if a shopkeeper buys a football for $12 and sells it for $15?
profit = s.p - c.p
profit = $15 - $12
profit = $3
profit%= profit/c.p x 100%
profit%= $3/$12 x 100%
profit%= 25%
200
A pair of boots are $94.99. They are 25% off. With this discount, what is the sale price? Round to nearest cent if necessary.
c.p = $94.99
discount rate = 25%
discount = 25/100 x $94.99
discount = $23.75
s.p = $94.99 - $23.75
s.p = $71.24
200
A Television can be bought on hire purchase with a down payment of $800 and 20 monthly installments of $275. What is the hire purchase price?
H.P = AMOUNT PAYABLE + DEPOSIT
H.P = (20 x $275) + $800
H.P = $5500 + $800
H.P = $6,300
200
According to the table, what is the Euro equivalent of 1 USD?
$1 US = EUR 0.7582
300
Calculate S.P if C.P is $3,400 and profit is $400.
S.P = c.p + profit
S.p = $3400 + $400
S.P = $3800
300
If James sells his car for $1,000 and bought it for $2500. What is the percentage loss made on the car.
loss = c.p - s.p
loss = $2500 - $1000
loss = $1500
loss%= loss/c.p x 100%
loss%= $1500/$2500 x 100%
loss%= 60%
300
Vicky made some purchases at the Sunflower Market. She bought strawberries for $3.50, carrots for $2.25 and a bouquet of flowers for $9.95. If sales tax is 5%, what will Maria pay altogether
c.p = $3.50 + $2.25 + $9.95
c.p = $15.70
sales tax = 5% x $15.70
sales tax = $0.79
sales price = $15.70 + $0.79
sales price = $16.49
300
Sarah wants to buy a chair using Hire Purchase. She pays $37 deposit and 5 monthly payments of $20. How much does she pay in total?
H.P = AMOUNT PAYABLE + DEPOSIT
H.P = (5 x $20) + $37
H.P = $137
300
If the Mexican Peso depreciates in relation to the Chinese Yuan, how is Mexico affected?
a. Mexico has less purchasing power in Chinese currency
b. Mexico benefits from increased purchasing power
c. Mexico would have more Chinese investors
d. They would be invaded by China
A. Mexico has less purchasing power in Chinese currency
400
A watch was bought for $190 and sold for $175. Did it made a profit or loss? How did you know?
It made a LOSS
C.P is greater than the S.P
400
Calculate the percentage profit if an item is bought for $175 and sold for $236.25.
profit = s.p - c.p
profit = $236.25 - $175
profit = $61.25
profit%= profit/c.p x 100%
profit%= $61.25/$175 x 100%
profit%= 35%
400
If you receive 25% off an item costing $22.00, how much money do you save?
c.p = $22
discount rate = 25%
discount = 25/100 x $22
discount = $5.50
s.p = $22 - $5.50
s.p = $16.50
400
Cash Price: $2,200
Down Payment: $800
Instalment: 18 monthly instalments of $150 each.
The total interest on hire purchase was
H.P = (18 X $150) + $800
H.P = $2700 + $800
H.P = $3500
interest = H.P - C.P
interest = $3500 - $2,200
interest = $1300
400
If the exchange rate is £1 = $1.25, how much does $1 equal in £ pounds?
£1 = $1.25
£? = $1
$1/$1.25 = £0.80
500
A stationer purchased 5 dozen of pens at $25 per piece. What is CP of 5 dozen pens? They decides to sell the pens for $32 per piece. What is the profit made on the pens?
dozen = 12
5 x 12 = 60
C.P = 60 x 25 = $1500
S.P= 60 x 32 = $1920
PROFIT=S.P - C.P
PROFIT = $1920 - $1500
PROFIT = $420
500
If an object is bought for $90 and then sold for a loss of 15%. How much was it sold for?
s.p = c.p - (loss% x c.p)
s.p = $90 - (15% x $90)
s.p = $90 - ($13.50)
s.p = $76.50
500
Alicia went to the local farmer's market to buy some fresh produce. She bought carrots for 35% off the original price of $7.40. How much did Alicia pay for the carrots?
c.p = $7.40
discount rate = 35%
discount = 35/100 x $7.40
discount = $2.59
s.p = $7.40 - $2.59
s.p = $4.81
500
The hire purchase cost of a radio is $6355. If the deposit is a $1000 and the balance is to be paid in 9 equal installments, each installment will be
H.P = (monthly installments x amount paid) + deposit
$6355 = (9 x ap) + $1000
$6355 - $1000 = 9 x ap
$5355 / 9 = ap
ap = $595
500
If the exchange rate is £1 = $1.25, what is $2250 equivalent to in £ pounds?
£1 = $1.25
£? = $2250
$2250/ $1.25 = £ 1800