Profit and Loss

Profit / Loss

100

Mr and Mrs McKay bought three rugs for $30 and sold them for $18 each. How much profit did they make on them?

$24

200

John bought a telescope for $170 and sold it to a client for $225. How much profit did John make?

$55

300

Andrea wanted to get a new iPad mini when they first came out. She already had an iPad 2 that she had paid $890 for. She sold the iPad 2 for $225. Did she make a profit of Loss

Loss

400

Paul owns a shop, and sells packets of cotton wool for $120 each. Paul buys a box containing 2 packets of cotton wool for $240. He sells each for $150 of these packets. What profit, if any, does he make?

He makes a $60 profit

500

what is the meaning of cost price:

This is the amount that the item was bought at.  

Percentage Profit

100

Tom bought a fishing reel from a garage sale for $20. He then sold the fishing reel to his friend the next day for $25. Work out the percentage profit Tom made on the fishing reel.

25%

200

A second-hand furniture dealer bought a filing cabinet for $80 from a client. One week later, he sold it for $140 to a new business owner. Work out the percentage profit the dealer made on the filing cabinet.

75%

300

Mary was going on a sightseeing holiday and purchased a second hand video camera for $200 from ebay. When she came back, she sold it for $290. Work out the percentage profit Mary made on the video camera.

45%

400

Andy purchased 120 pencils at the rate of $2 per pencil. He sold 72 of them at the rate of $2.5 per pencil and the remaining at the rate of $2 per pencil. Calculate the percentage profit that Andy made on the sale of the pencils.

15%

500

A snack bar in a shopping centre paid $15 000 a month rent over the previous year. The snack-bar’s payroll, insurance and other wages costs were $95 000 a year. Its power, light and cleaning costs were $28 000 a year. Its turnover for the year was $910 000, and its suppliers charged a total of $540 000 for the year. What was the net profit as a percentage of turnover?

7.36%

Percentage Loss

100

A boy buys a toy car for $400. One year later he sells it for $120. Calculate the percentage loss on the car.

70%

200

Double points:  400 points

A grocer buys a bag of oranges for $500 but after  sells them for $230. Calculate the percentage loss.

54%

300

Blank

100points 

400

Before cooking, a joint of meat weighs 2500 g. After cooking, the same joint of meat weighs only 2100 g. Calculate the percentage loss in the weight of the meat.

16%

500

What is the formula for percentage profit: 

(profit /cost price  ) x 100/1