Percentages
PROFIT AND LOSS
Percentages are frequently used in questions about profit and loss.
There are several ways that the questions can be asked.
Try and follow these worked examples.
1)
A man buys a car for £2000 and spends time working on it. He
then sells it for a 20% profit. How much did he sell it for?
20% of £2000 =
so he sells it for
2)
20
100
x
2000
1
= £400
£2000
+ 400
£2400
The man buys a second car for £3000 and sells it for £3450
after a re-spray. What percentage profit did he make?
He made a profit of £450
In business it is useful to write this as a percentage of the
original price.
Percentage profit =
actual profit
original price
x
15
In this case that is
45 0
3 00 0
x
1
f lex i p
He made a 15% profit
ac k s
1
100
1
= 15%
100
1
Percentages
3)
A greengrocer buys a box of 100 apples for £8. Unfortunately he
drops the box, damaging many. He can only sell 40 apples at 16 p
each. Find his percentage loss.
40 x 16p = 640p = £6.40
He made a loss of £1.60
Percentage loss =
actual loss
original price
Percentage loss =
1.60
8
x
100
1
100
1
x
20
=
160p
8 00p
x
100
1
(to get rid of the point)
1
= 20%
4)
Jason buys a new sofa for his flat costing £250. He finds it
won’t fit in and has to sell it, at a 40% loss. How much did he sell
it for?
40% of £250 =
40
100
x
250
1
= £100
So he sells it for
250
- 100
f lex i p
£150
ac k s
2
Percentages
Try these questions:
1)
A motor bike is bought for £900 and later sold for £630. Find
the percentage loss.
2)
Serena bought a house for £50 000 and sold it 5 years later for
12% profit. How much did she sell the house for?
3)
A pub can buy beer at 60p a pint. It sells it for £1.44 a pint.
What is the percentage profit on each pint sold?
4)
A shopkeeper buys a tray of 24 cans for £9.60 and sells them
for 50p each. Find his percentage profit.
5)
A car is bought for £5000 and sold 2 years later at a loss of
40%. How much was it sold for?
6)
A café owner buys chocolate bars for 15 p each and makes an
80% profit on them. How much are they sold for?
7)
Rashid bought a house for £54 000. During a slump in the
market, she sold it for £45 900. What was her percentage loss?
8)
A sale advertises all clothes at a discount of 15%. The normal
price of a dress is £25, what is the sale price?
9)
A shopkeeper buys a box of 48 packets of crisps for £9.60. How
much does he need to sell each packet for to make a profit of
40%?
10) What is the percentage profit or loss if an article is bought for
£12.50 and sold for £15?
f lex i p
Check your answers then discuss with your tutor what you need to
work on next.
ac k s
3
Percentages
Answers
Profit And Loss
1)
30%
2)
£56 000
3)
140%
4)
25%
5)
£3 000
6)
27p
7)
15%
8)
£21.25
9)
28p
f lex i p
10) 20%
ac k s
4