Profit and Loss Flashcards
What is Profit?
Profit = Selling Price - Cost Price
What is Loss?
Loss = Cost Price - Selling Price
What is Selling Price
when there is a Profit
when there is a Loss
Selling Price = Cost Price + Profit
Selling Price = Cost Price - Loss
The selling price is more than cost price
Is this a profit or loss?
Profit
The selling price is less than cost price
Is this a profit or loss?
Loss
The selling price is $100 and the cost price is $80
Calculate the profit or loss?
Profit = $100 - $80
= $20
The selling price is $100 and the cost price is $130
Calculate the profit or loss?
Loss = $130 - $100
= $30
A shopkeeper buys a shirt at $20 and sells it for $25
Calculate the profit or loss?
Profit = $25 - $20
= $5
A retailer buys a TV at $800 and sells it for $700
Calculate the profit or loss?
Loss = $800 - $700
= $100
A shopkeeper bought a toy for $30 and made a profit of $20
What is the selling price?
Selling Price = $30 + $20
= $50
A shopkeeper bought a handphone for $330 and made a loss of $20
What is the selling price?
Selling Price = $330 - $20
= $310
A bookseller bought 20 books for $15 each and made a loss of $20
What is the selling price of 1 book?
Loss per book = $20/20
= $1
Selling Price = $15 - $1
= $14
A bookseller bought 10 books for $15 each and made a profit of $20
What is the selling price of 1 book?
Loss per book = $20/10
= $2
Selling Price = $15 + $2
= $17
