Darveena Prananand Profit and Loss

Profit and Loss/Discount/VAT __________________________________________

Example 1: __________________________________________
A man paid $18750 for 250 pens bought in
Trinidad. The Customs Department in his country __________________________________________
charged him $2345 in duty.
(b) The man sold the books at a selling price of
(a) Calculate the total cost of the 250 pens inclusive
of duty. $57.50 EACH.
Total Cost = Cost Price + Custom Duty
= $18750 + $2345 (i) Calculate the total profit he made on the sale
of the 175 books. $172.50
= $21095
__________________________________________
(b) The man sold the pens at a selling price of
$90.50 EACH. __________________________________________
(i) Calculate the total profit he made on the sale
of the 250 pens. __________________________________________

Selling Price = $90.50 x 250 = $22625 __________________________________________

Profit = SP – CP
(ii) Calculate the profit as a percentage of the
P = $22625 - $21095
cost price, giving your answer to the nearest
P = $1530 whole number. 2%

(ii) Calculate the profit as a percentage of the __________________________________________

cost price, giving your answer to the nearest
whole number. __________________________________________

Profit __________________________________________
%P = ×100
Cost Price
__________________________________________
$ 1530
%P = ×100
$ 21095
Example 2:
%P = 7%
The table below shows the number of tickets sold
1. A man paid $7700 for 175 books bought in for a bus tour. Some items in the table are missing.
Guyana. The Customs Department in his
country charged him $2190 in duty. Tickets sold for bus tour
(a) Calculate the total cost of the 175 books Category Number Cost Total
inclusive of duty.$9890 of tickets per cost in
sold tickets $
__________________________________________ in $
Juvenile 6 P 150
Youth 17 38.50 Q
Adult R 693

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Darveena Prananand Profit and Loss

$ 150 __________________________________________
(a) Calculate the value of P. P = = $25
6
(b) Calculate the value of Q Q = $38.50 x 17 = __________________________________________
$654.50
(c) An adult ticket is twice the cost of a youth __________________________________________
ticket. Calculate the value of R.
$ 693 __________________________________________
Adult = $38.5 x 2 = $77 R = =9
$ 77
(d) The bus company pays taxes of 15% on each (d) The bus company pays taxes of 24% on each
tickets sold. Calculate the taxes paid by the bus ticket sold. Calculate the taxes paid by the bus
15 company. $242.08
company. Tax = x $1497.50 = $224.63
100
__________________________________________
2. The table below shows the number of tickets
sold for a bus tour. Some items in the table are
__________________________________________
missing.
Tickets sold for bus tour __________________________________________
Category Number Cost Total
of tickets per cost in __________________________________________
sold tickets $
in $ Example 3:
Child 10 P 176
Youth 21 21.35 Q Mr. Blacks bought 145 jeans for $36300.75 from a
Adult R 384.3 factory.
(a) Calculate the value of P. $17.6
(a) Calculate the cost of one jeans one jeans =
__________________________________________ $ 36300.75
=¿ $250.35
145
__________________________________________ (b) The jeans are sold at $298.75 each.

__________________________________________ Calculate
(i) The amount of money Mr. Blacks received
__________________________________________ after selling ALL of the jeans. 145
jeans = $298.75 x 145 = $43318.75
(b) Calculate the value of Q. $448.35 (ii) The total profit. P = SP- CP = $43318.75 -
$36300.75 = $7018
__________________________________________
(iii) The profit made as a percentage of the cost
__________________________________________ price, giving your answer correct to the
P
nearest whole number. %P = x 100 =
__________________________________________ CP
$ 7018
x 100 = 19%
__________________________________________ $ 36300.75
3. Mrs. Peters bought 158 pairs of earrings for
$3989.50 from a factory.
(c) An adult ticket is twice the cost of a youth
(a) Calculate the cost of one pair of earrings $25.25
ticket. Calculate the value of R. 6

20
Darveena Prananand Profit and Loss

__________________________________________ Example 4:

__________________________________________ The table below shows the cost price, selling price
and profit or loss as a profit of the cost price. Copy
__________________________________________ and complete the table below, inserting the missing
values at (i) and (ii).
__________________________________________
Cost price Selling Percentage
price profit or loss
(b) The earrings are sold at $29.75 a pair. $108.00 $98.00 (i) 9.26%
(ii) --------- $1600.00 40% profit
Calculate $1142.86
(i) The amount of money Mrs. Peters received (i) L = C P – S P = $108 – $98 = $10 %L =
after selling ALL of the earrings. $4700.5 L $ 10
x 100 = x 100 = 9.26%
CP $ 108
__________________________________________ 140
(ii) $1600 = 140% of CP $1600 =
100
__________________________________________ 100
x CP $1600 x = CP = $1142.86
140
__________________________________________
4. The table below shows the cost price, selling
__________________________________________ price and profit or loss as a profit of the cost
price. Copy and complete the table below,
inserting the missing values at (i) and (ii).
(ii) The total profit. $711
Cost price Selling Percentage
__________________________________________ price profit or loss
$1200.00 $1000.00 (i) ------
__________________________________________ 16.67%
(ii) ----------- $2176.00 28% profit
__________________________________________ $1700
__________________________________________
(i) ____________________________________
(iii) The profit made as a percentage of the cost
price, giving your answer correct to the ____________________________________
nearest whole number.18%
____________________________________
__________________________________________
____________________________________
__________________________________________
(ii) ____________________________________
__________________________________________
____________________________________
__________________________________________
____________________________________

____________________________________

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Darveena Prananand Profit and Loss

__________________________________________

Example 5: __________________________________________
Mark bought and sold a television. He wrote
his business activity as follows: __________________________________________

Cost price of computer = $2508 __________________________________________

Marked price of computer = $2885
Example 6:
Discount on marked price = 7%
A woman sold a tape recorder for $1100. She made
(if paid by cash) a profit of 15% on the cost price. Calculate the cost
`Calculate 115
price. SP = 115% of CP $1100 = x CP
100
(a) the selling price(paid cash) 100
SP = MP – Dis. $1100 x = CP = $956.52
115
7
D= x $2885 = $201.95
100 6. A man sold a pair of shoe for $2100. He made a
SP = $2885 - $201.95 = $2683.05 profit of 25% on the cost price. Calculate the
(b) The profit or loss as a percentage of the cost cost price. $1680
price P = SP – CP = $2683.05 - $2508 = $175.05
P $ 175.05 __________________________________________
%P = x 100 = x 100 = 6.9 %
CP $ 2508
= 7% __________________________________________
5. Suzan bought and sold a kitchen set. She wrote
her business activity as follows: __________________________________________

Cost price of kitchen set = $42500 __________________________________________

Marked price of kitchen set = $51550
Example 7:
Discount on marked price = 8%
A company sells computers to customers in order to
(if paid by cash) make a profit of 20%. Calculate:
Calculate (a) The price a customer pays for a computer which
20
(a) the selling price (paid cash) $47426 the company bought for $2800 P = × $ 2800
____________________________________ 100
= $560 SP = CP + P = $2800 + $560 =
____________________________________ $3360
(b) The price the company paid for a computer
____________________________________ which was sold to a customer for $3800. SP =
120 120
x CP $3800 = x CP $3800
____________________________________ 100 100
100
(b) The profit or loss as a percentage of the cost x = CP = $3166.67
120
price P = 11.7% 7. A company sells blenders to customers in order
to make a profit of 20%. Calculate:
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Darveena Prananand
(a) The price a customer pays for a printer which
the company bought for $4100. $4920
__________________________________________
__________________________________________
__________________________________________
__________________________________________
(b) The price the company paid for a printer which
was sold to a customer for $6500. $5416.67
__________________________________________
__________________________________________
__________________________________________
__________________________________________
(c) A merchant sold a radio for $600. He made a
profit of 20% on the cost price. Calculate the
cost price. $500
__________________________________________
__________________________________________
__________________________________________
__________________________________________
8. A company sells printers to customers in order
to make a profit of 25%. Calculate:
(a) The price a customer pays for a printer
which the company bought for $1700 $2125
__________________________________________
__________________________________________
__________________________________________
__________________________________________
23
Profit and Loss
(b) The price the company paid for a printer
which was sold to a customer for $2500.
$2000
__________________________________________
__________________________________________
__________________________________________
__________________________________________
9. A company buys calculators for$70.00 each
sells them for $110.00 each.
(a) Calculate the profit made by selling one
calculator. $40
__________________________________________
__________________________________________
__________________________________________
__________________________________________
(b) Express your answer in (a) above as a
percentage of the cost price. 57.14%
__________________________________________
__________________________________________
__________________________________________
__________________________________________
10. The company offers 18% discount on
calculators to students.
A student bought one calculator.
Calculator
(i) The discount on the purchase $19.80
__________________________________________
__________________________________________
Darveena Prananand Profit and Loss

__________________________________________ __________________________________________

__________________________________________ __________________________________________

(ii) The price paid for the calculator $90.20
__________________________________________
__________________________________________
(ii) The sale price of $1 600 is 20% less than the
original price. Calculate the original price of
the television set. $1280
__________________________________________

__________________________________________ __________________________________________

__________________________________________ __________________________________________

11. The cost price of a plot of land was $20 000.
The plot of land was sold for $24 400. Calculate
the profit as a percentage of the cost price. 22%
__________________________________________
__________________________________________
__________________________________________
1. June 2005
The table below shows Amanda’s shopping bill.
Some numbers are removed and replaced with
letters.

__________________________________________ Items Quantity Unit Total

Price Cost
__________________________________________ ($) ($)
Stickers 12 0.49 5.88
T – shirts 3 12.50 A
12. Use the information from the diagram below to CDs 2 B 33.90
answer this part of the question. Posters C 6.20 31.00
Total 108.28
15% VAT (to D
the nearest
cents)
(i) Calculate the values of A, B, C and D. A =
$37.50, B = $16.95, C = 5, D = $16.24
__________________________________________

__________________________________________
(i) Calculate the total amount a customer pays
for the television set. $1840 __________________________________________

__________________________________________ __________________________________________

__________________________________________

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Darveena Prananand Profit and Loss

__________________________________________ (i) The amount of money Mrs. Jack received

after selling ALL of the T-shirts. $2998.5
__________________________________________
__________________________________________
__________________________________________
__________________________________________

__________________________________________ __________________________________________

__________________________________________ __________________________________________

__________________________________________
(ii) The total profit. $1078.5

(ii) Amanda sold 6 of the 12 stickers which she __________________________________________

had bought at 75 cents each, and the
remaining stickers at 40 cents each. __________________________________________

Show, using calculations, whether Amanda made a __________________________________________

profit or a loss on buying and selling stickers.
P = $1.02
__________________________________________
__________________________________________
__________________________________________
__________________________________________
(iii) The profit made as a percentage of the
cost price, giving your answer correct to
the nearest whole number. 56%
__________________________________________

__________________________________________ __________________________________________

__________________________________________
2. June 2010
Mrs. Jack bought 150 T-shirts for $1920 from a __________________________________________
factory.
(a) Calculate the cost of one T-shirt $12.80 3. June 2011

__________________________________________ The table below shows Pamela’s shopping bill.

Some of the information was not included.
__________________________________________ Item Quantity Unit Total
Price Cost (4)
__________________________________________ ($)
Rice 1 2.40 W
__________________________________________ 6 kg
2
Potatoes 4 bags X 52.80
(b) The T-shirts are sold at $19.99 each. Milk Y 2.35 14.10
cartoons
Calculate Sub total 82.50

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Darveena Prananand Profit and Loss

Z % tax VAT 9.90 __________________________________________

Total 92.40
__________________________________________

Calculate the values of W, X, Y and Z. __________________________________________

W = $15.60 X = $13.20 Y=6
Z= 12 5. January 2014
__________________________________________ A jeweler paid $6800 for 165 bracelets bought in
China. The Customs Department in his country
__________________________________________ charged him $1360 in duty.

__________________________________________ (a) Calculate the total cost of the 165 bracelets

inclusive of duty. $8160
__________________________________________
__________________________________________
__________________________________________
__________________________________________
__________________________________________
__________________________________________
__________________________________________
__________________________________________

4. June 2012
(b) The jeweler sold the bracelets at a selling price
The table below shows the cost price, selling price of $68.85 EACH.
and profit or loss as a profit of the cost price. Copy (i) Calculate the total profit he made on the
and complete the table below, inserting the missing sale of the 165 bracelets. $3200.25
values at (i) and (ii).
__________________________________________
Cost price Selling Percentage
price profit or loss __________________________________________
$55.00 $44.00 (i) -------
--- __________________________________________
20%
(ii) ------ $100.00 25% profit __________________________________________
$80
(ii) Calculate the profit as a percentage of the
cost price, giving your answer to the
__________________________________________ nearest whole number. 39%

__________________________________________ __________________________________________

__________________________________________ __________________________________________

__________________________________________ __________________________________________

__________________________________________
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Darveena Prananand Profit and Loss

6. June 2015 Rowe’s Total bill including the tax?

The table below shows a shopping bill prepared for
Mrs. Rowe. The prices of some of the items are
missing.
$25.96
__________________________________________
__________________________________________

Shopping Bill __________________________________________

Item Unit cost Total cost
__________________________________________
price price
3 kg sugar X $10.80
4 kg rice Y Z 7. June 2016
2 kg flour $1.60 $3.20
(a) Calculate the value of X, the cost of 1 kg of Paul bought and sold a computer. He wrote his
sugar. $3.60 business activity as follows:

__________________________________________ Cost price of computer = $1064

Marked price of computer = $1399
__________________________________________
Discount on marked price = 5%
__________________________________________
(if paid by cash)
__________________________________________ Calculate
(a) the selling price (paid cash) $1329.05
(b) If the cost price of 1 kg of rice is 80 cents more
than 1kg of flour, calculate the value of Y and
Z.
Y = $2.40 Z = $9.60 __________________________________________

__________________________________________ __________________________________________

__________________________________________ __________________________________________

__________________________________________ __________________________________________

__________________________________________
(b) The profit or loss as a percentage of the cost
price 5%
__________________________________________

__________________________________________
__________________________________________
__________________________________________
__________________________________________

(c) A tax of 10% of the total cost price of the three __________________________________________
items is added to Mrs. Rowe’s bill. What is Mrs.
__________________________________________
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Darveena Prananand Profit and Loss

8. January 2017
The table below shows the number of tickets sold
for a bus tour. Some items in the table are missing.
(d) The bus company pays taxes of 15% on each
tickets sold. Calculate the taxes paid by the bus
company. $485.25
__________________________________________

Tickets sold for bus tour __________________________________________

Category Number Cost Total
of per cost in $ __________________________________________
tickets tickets
sold in $ __________________________________________
Juvenile 5 P 130.50
Youth 14 44.35 Q
Adult R 2483.60
(a) Calculate the value of P. $26.1
__________________________________________

__________________________________________

__________________________________________

__________________________________________

(b) Calculate the value of Q $620.9

__________________________________________

__________________________________________

__________________________________________

__________________________________________

(c) An adult ticket is twice the cost of a youth

ticket. Calculate the value of R. 28
__________________________________________

__________________________________________

__________________________________________

__________________________________________

28