Percentage Profit Or Loss

Question 1

What is Profit?

Answer 1

Selling something for more than it costs, gives a profit

Question 2

What is a loss?

Answer 2

Selling something for less than it costs, gives a loss

Question 3

Is it a profit or a loss if an item is bought for R200 and sold for R230?

Answer 3

Profit

Question 4

Is it a profit or a loss, if a car is purchased for R100 000 and sold for R80 000?

Answer 4

Loss

Question 5

Determine the percentage of the Profit or loss, if an item is bought for R200 and is sold for R230

Answer 5

230-200/200 x 100/1

=30/200 x 100/1

=15% Profit

Question 6

Calculate the percentage profit or loss, if a car is bought for R100 000 and sold for R80 000

Answer 6

100 000-80 000/100 000 x 100/1

=20 000/100 000 x 100/1

=20% Loss