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1.03 Profit and loss

Worksheet
Profit and loss
1

Calculate the profit (or loss) when:

a

The selling price is \$540 and the cost price is \$284.

b

The selling price is \$2065 and the cost price is \$3120.

c

The selling price is \$340.50 and the cost price is \$290.80.

d

The selling price is \$1800 and the cost price is \$3500.

e

The cost price is \$276.90 and the selling price is \$320.55.

f

The cost price is \$2480 and the selling price is \$1770.

2

Calculate the profit (or loss) when:

a

The money received is \$910 and expenses are \$280.

b

The money received is \$2482 and expenses are \$3017.

c

The money received is \$510 and expenses are \$290.27.

d

The money received is \$3942.80 and expenses are \$4120.

e

The expenses are \$5900 and the money received is \$4350.

f

The expenses are \$163.60 and the money received is \$439.95.

3

Richard buys a used car for \$1490 and resells it for \$2860.

a

How much profit did Richard make on the bike?

b

Work out his percentage profit rounded to two decimal places.

4

Charlotte invests \$7000 in the stock market only to see her shares plummet in value to \$4000.

a

Find the amount of Charlotte's loss.

b

What is her percentage loss? Round your answer to two decimal places.

5

Sally purchased a dress for \$20 and auctioned it off on eBay for \$41. Calculate:

a

Her profit.

b

The profit as a percentage of the cost, correct to two decimal places.

c

The profit as a percentage of revenue, correct to two decimal places.

6

Ally bought a computer for \$1980 and later sold it for \$1040.

a

Express the loss as a percentage of the cost price, correct to one decimal place.

b

Express the loss as a percentage of the selling price, correct to one decimal place.

7

In its first year, a car manufacturer’s share price drops by \$3.20 from \$5.50. If Neil bought 900 shares at the beginning of the year, find:

a

The total price Neil paid for the shares.

b

Neil’s total loss.

c

Neil's percentage loss, correct to two decimal places.

8

A stockbroker bought 316 shares at \$23.25 per share and later sold the shares for a total of

\$15\,281. Calculate the percentage profit to two decimal places.

9

John bought a property for \$445\,000. In the first year it had increased in value by 3\%, but in the second year the value decreased by 7\%.

a

Calculate the value of the house at the end of the second year.

b

Calculate John's profit or loss at the end of the second year.

c

The running costs during the two years amounted to \$1800. Find John's profit or loss at the end of the second year, taking into account these expenses.

10

Calculate the percentage profit if an item is sold for:

a

6 times the cost price.

b

4.9 times its cost price.

c

2.8 times its cost price.

11

Calculate the percentage loss on each of the following sales:

a

A car is sold for 0.25 times the cost price.

b

An item is sold for 0.99 times the cost price.

Cost and sale price
12

Calculate the cost price when:

a

The selling price is \$258 and the profit is \$139.

b

The selling price is \$549.62 and the profit is \$525.67.

c

The selling price is \$570.78 and the profit is \$430.18 .

d

The selling price is \$2050 and the loss is \$1427.

e

The selling price is \$5219.20 and the loss is \$5117.

f

The loss is \$6210 and the selling price is \$6610.

g

The loss is \$520 and the selling price is \$360.

h

The profit is \$235 and the selling price is \$699.

13

Calculate the sale price of an item if:

a

The cost price was \$210 and the profit made was \$293

b

The cost price was \$260 and the profit made was \$340.

c

The cost price was \$390.22 and the profit made was \$423.06.

d

The cost price was \$7557 and the loss on the sale was \$1922

e

The cost price was \$636.97 and the loss on the sale was \$478.92

f

The loss on the sale was \$13\,093 and the cost price was \$31\,480.

14

Maria bought a car for \$5400 and sold it two years later, making a loss of 15\%. How much did she sell the car for?

15

A game retailer sells new games at a markup of 33\% above the cost price and old games at a markup of 18\%. Calculate the selling price of:

a

The new Super Zora 5 game which has a cost price of \$90.

b

The old Super Zora 3 game which has a cost price of \$31.

Expenses and revenue
16

Calculate expenses when:

a
The money received is \$360 and the profit is \$200.
b

The money received is \$1240 and the loss is \$748.

c

The money received is \$633 and the profit is \$209.

d

The money received is \$960.21 and the loss is \$572.49.

e

The profit is \$108 and the money received is \$390.

f

The loss is \$104.40 and the money received is \$114.50.

g

The loss is \$11\,350 and the money received is \$19\,760.

17

Calculate the total revenue if:

a

The expenses are \$241 and the profit is \$228.

b

The expenses are \$586.88 and the profit is \$635.01.

c

The expenses are \$662 and the profit is \$336.

d

The expenses are \$3842 and the loss is \$3082.

e

The expenses are \$2590 and the loss is \$1960.

f

The profit is \$240 and the expenses are \$340.

g

The loss is \$1893 and the expenses are \$3052.

Applications
18

A dishwasher initially selling for \$866 is discounted by 12\%.

a

What is the discounted price?

b

Express the initial price as a percentage of the discounted price. Round your answer to two decimal places.

c

Hence, what is the percentage increase needed to restore the discounted price back to the original price? Round your answer to two decimal places.

19

At the end of the financial year, a television originally advertised at \$3800 is discounted by 5\%. Valentina negotiates a further discount for paying with cash, which brings the price down to \$3285.10.

a

Calculate the price Valentina would have paid if she had only received the initial 5\% discount.

b

Hence, calculate the further percentage discount she received for paying with cash.

20

A business is sold for a 26\% profit. Find the ratio of selling price to buying price. Give your answer as a simplified ratio.

21

In its opening month, the local pizza store sold 161 large pizzas at \$15 each and 152 small pizzas at \$5 each. The store's expenses included electricity costs of \$29, water costs of \$20, rent of \$284, wages of\$1164 and ingredient costs of \$253. Calculate:

a
The total revenue
b
The total expenses
c
The profit (or loss) for the month
22

In one week a coffee van sold 100 regular coffees at \$3.00 each and 250 large coffees at \$5.00 each. The van had to pay the following costs during the week: \$90 worth of petrol, wages of \$240, and \$59 of ingredients. Calculate:

a

The total revenue

b

The total expenses

c

The profit for that week

23

For each of the following, calculate:

i
The sale price
ii
The profit (or loss)
a

An item has a cost price of \$360 and is sold at 8\% above cost price.

b

An item has a cost price of \$60 and is sold at 9\% above cost price.

c

A menu item has a cost price of \$25, and is priced at 35\% above cost price.

d

An item has a cost price of \$160 and is sold at 5\% below cost price.

e

An item of clothing costs the store \$60 and is being sold for 25\% below cost price.

24

For each of the following, calculate to two decimal places:

i
The profit made from the item
ii
The percentage profit on the cost price
iii
The percentage profit on the sale price
a

An item is marked for sale for \$75.60 and had a cost price of \$45.00.

b

An item is marked for sale for \$100 and had a cost price of \$25.

c

An item is marked for sale for \$20.10 and had a cost price of \$20.00.

25

For each of the following, calculate:

i
The percentage loss on the cost price
ii
The percentage loss on the sale price
a

An item is marked for sale for \$40 and had a cost price of \$50.

b

An item has a cost price of \$200.00 and is sold for \$195.60.

26

A pair of socks costs a salesman \$1.69 to make. He is then taxed 25\% of the profit he makes from the sale. He sells each pair of socks for \$P.

a

Write an expression in terms of P, for his profit per pair of socks:

i

Before tax

ii

After tax

b

The salesman wishes to make an after-tax profit of 33\%. Calculate the price, \$P, at which he must sell each pair of socks.

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Outcomes

ACMGM006

apply percentage increase or decrease in various contexts; for example, determining the impact of inflation on costs and wages over time, calculating percentage mark-ups and discounts, calculating GST, calculating profit or loss in absolute and percentage terms, and calculating simple and compound interest

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