Profit or loss percent is expressed as a percentage of the cost price
EXAMPLE 1
An article bought for $3,000 was sold for $3,300. Find the profit percent
Solution
Cost price = $3,000
Selling price = $3,300
Profit = $3300 – $3,000 = $300
Profit % = Profit x 100
Cost price 1
= 300 x 100
3000 1
= 300 x 1 = 300 = 10%
30 x 1 30
EXAMPLE 2
A book bought for $25,000 was sold for $22,000. What is the loss percent?
Solution
Cost price =$25,000
Selling price= $22,000
Loss = $25,000 – $22,000 = $3,000
Loss % =loss x 100
Cost price 1
=3000 x 100 = 12%
25000 1
EXERCISE
Cost price | Selling price | Profit % | Loss% | |
1. | $1,300 | $1,365 | ||
1. | $33,555 | $32,446 | ||
2. | $56,000 | $59,540 | ||
3. | $100,680 | $99,960 |
See also
SIMPLE PROBLEMS ON PERCENTAGES
SUBSCRIBE BELOW FOR A GIVEAWAY