Profit and Loss Problems
Remember:
- Profit = Selling Price − Cost Price
- Loss = Cost Price − Selling Price
- Profit % = (Profit ÷ Cost Price) × 100
- Loss % = (Loss ÷ Cost Price) × 100
1. A shopkeeper buys a bicycle for $240 and sells it for $300.
a) Calculate the profit. $________________
b) Calculate the profit percentage. ________________%
2. Maria bought a phone for $450 and sold it for $380.
a) Did Maria make a profit or a loss? ________________
b) Calculate the amount of profit or loss. $________________
c) Calculate the loss percentage. ________________%
3. A toy costs $25 to make. It is sold for $35.
a) What is the profit? $________________
b) What is the profit percentage? ________________%
4. Tom buys a rugby ball for $60 and sells it at a loss of 15%.
a) Calculate the loss amount. $________________
b) What was the selling price? $________________
5. A book is purchased for $18 and sold at a profit of 20%.
a) Calculate the profit amount. $________________
b) What is the selling price? $________________
6. A computer game was bought for $80 and sold for $100.
a) Calculate the profit percentage. ________________%
7. Sarah buys a skateboard for $120 and sells it for $90.
a) Calculate the loss percentage. ________________%
8. A fruit seller buys apples for $3.00 per kg and sells them for $4.50 per kg.
a) What is the profit per kilogram? $________________
b) What is the profit percentage? ________________%
9. A shirt costs $40 to buy. If sold at a 30% profit, what is the selling price?
Selling price: $________________
10. James bought a cricket bat for $150 and sold it at a 12% loss. What was the selling price?
Selling price: $________________