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Finding Profit or Loss PercentOn finding profit or loss percent we use the following formula:-
Where, P% = Profit percent P = Profit C.P. = Cost Price L % = Loss per cent L = Loss Examples on finding profit or loss percent 1) Find the gain or loss percent, if C.P. = $ 4oo , S.P. = $ 500 Solution : We have, C.P. = $ 400 and S.P. = $ 500. Since, S.P. > C.P. Therefore, there is gain or profit. Profit = S.P. – C.P. = $500 - $400 = $100 ∴ Profit per cent = Profit / C.P. x 100 = 100 / 400 x 100 = 25% 2) C.P. = $ 200 , S.P. = $ 150 Since, C.P. = $ 200 and S.P. = $ 150. As c.p > s.p so there is loss. Loss = C.P. – S.P. = $ 200 - $ 150 = $ 50 ∴ Loss per cent = Loss / C.P. x 100 = 50 / 200 x 100 = 25% 3) A box of Alphonso mangoes was purchased by a fruit – seller for $300. However, he had to sell them for $250 because they began they began to overripe. What was the loss percentage? Solution: We have, C.P. = $ 300 and S.P. = $ 250 Since, C.P. > S.P. there is loss ∴ Loss = C.P. – S.P. = $ 300 – 250 = $ 50 Now, Loss % = Loss / C.P. x 100 = 50 / 300 x 100 = 16.67 % Hence, 16.67% loss 4) Harry bought a computer for $1200 and spent $200 on its accessories. He sold it for $ 1680. Find his profit or loss. What was his profit or loss per cent? Solution : Cost of the computer after accessories = $( 1200 + 200) = $ 1400 S.P = $ 1680 S.P > C.P so there is a profit. Profit = P = S.P – C.P P = 1680 -1400 P = $ 280 Profit % = ( P / C.P ) x 100 P % = ( 280 / 1400 ) x 100 P % = 20 % 5) By selling a coat for $ 630, a shopkeeper earns a profit of 5%. Find the cost price of coat. Solution : Here, S.P = $ 630 , P% = 5 % and C.P = ? Let C.P = 100 S.P = 100 + 5 ( As there is P%, so add P% + 100 ) S.P = $ 630 ( given) 100 105 ---- = ------ ( cross multiply) C.P 630 105 x C.P = 630 x 100
Profit and Loss
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