7.01 Financial decisions
For the following situations:
Identify whether it concerns a profit or a loss.
Calculate the total profit or loss.
The selling price is \$303 and the cost price is \$276.
The selling price is \$1242 and the cost price is \$3610.
The money received is \$660.61 and the expenses are \$291.87.
The money received is \$4786.71 and the expenses are \$5653.17.
The cost price is \$276.90 and the selling price is \$320.55.
The cost price is \$2480 and the selling price is \$1770.
Calculate the cost price when:
The selling price is \$393 and the profit is \$157.
The selling price is \$4645 and the loss is \$3653.
The selling price is \$575.37 and the profit is \$348.33.
The loss is \$6210 and the selling price is \$6610.
The loss is \$520 and the selling price is \$360.
The profit is \$235 and the selling price is \$699.
Calculate the expenses when:
The money received is \$318 and the profit is \$176.
The money received is \$6095 and the loss is \$1777.
The money received is \$481.43 and the loss is \$216.13.
The profit is \$108 and the money received is \$390.
The loss is \$104.40 and the money received is \$114.50.
The loss is \$11\,350 and the money received is \$19\,760.
Calculate the sale price of an item if:
The cost price was \$336 and the profit made was \$342.
The cost price was \$9174 and the loss on the sale was \$2534.
The cost price was \$304.77 and the loss on the sale was \$199.51.
The cost price was \$7557 and the loss on the sale was \$1922
The cost price was \$636.97 and the loss on the sale was \$478.92
The loss on the sale was \$13\,093 and the cost price was \$31\,480.
Calculate the total revenue if:
The expenses are \$355 and the profit is \$216.
The expenses are \$4383 and the loss is \$3884.
The expenses are \$162.42 and the profit is \$418.57.
The expenses are \$2590 and the loss is \$1960.
The profit is \$240 and the expenses are \$340.
The loss is \$1893 and the expenses are \$3052.
Han buys a used bike for \$230 and resells it for \$586 without spending any money on it.
How much profit did Han make on the bike?
Find his percentage profit rounded to two decimal places.
Ally bought a computer for \$1980 and later sold it for \$1040.
Express the loss as a percentage of the cost price, correct to one decimal place.
Express the loss as a percentage of the selling price, correct to one decimal place.
Lucy invests \$7000 in the stock market only to see her shares plummet in value to \$4000.
Find the amount of Charlotte's loss.
What is her percentage loss? Round your answer to two decimal places.
Sally purchased a dress for \$20 and auctioned it off on eBay for \$41. Calculate:
Her profit.
The profit as a percentage of the cost, correct to two decimal places.
The profit as a percentage of revenue, correct to two decimal places.
A popular hotel increased its nightly rates from \$223 to \$263.
How much more does a single night's stay cost now?
By what percentage did the nightly rate increase? Round your answer to two decimal places.
A DVD player normally sells for \$4930.79, but is currently on sale. In each of the following scenarios, calculate the percentage discount correct to two decimal places:
The DVD player is discounted by \$261.80.
The DVD player is on sale for \$4773.59.
For each of the following scenarios:
Find the discounted price.
Express the initial price as a percentage of the discounted price to two decimal places.
Find the percentage increase in price needed to restore the discounted price back to its original to two decimal places.
A washing machine initially selling for \$597 is discounted by 7\%.
A dishwasher initially selling for \$621 is discounted by 6\%.
A microwave initially selling for \$230 is discounted by 12\%.
A dress originally marked at a price of \$170 is advertised to be selling at 15\% off this marked price. Find the discounted price.
A shop owner decides to mark up the price of a sled by 31\% so that it now sells for exactly \$90. Find the original price of the sled.
A bakery sells garlic twist loaves, baked fresh every day. At 4:30 pm, just before closing, they discount any remaining loaves by 49\% and sell them for \$4 each.
Find the original price for a garlic twist loaf.
James bought a property for \$248\,000. In the first year, it had increased in value by 5\%, but in the second year, the value decreased by 5\%. Given that the running costs during the two years amounted to \$1900, we want to find James’s profit or loss at the end of the two years.
Calculate James's profit based solely on the changing value of the house to two decimal places.
Hence, calculate James's total profit taking into account other expenses to two decimal places.
Shares which originally cost \$23 each increase in value by 5\%, then they increase again by 9\%.
Calculate the cost of the shares after the first increase.
Calculate the cost of the shares after the second increase.
By how much has the share price increased in overall?
Find the overall percentage increase this is equivalent to. Round your answer to two decimal places.
A set of professional knives for chefs originally cost \$1600 and is on sale at 20\% off. A chef receives a further 9\% trade discount after the sale discount is applied.
Find the final cost of the set to a chef.
How much overall would be saved in comparison to the original price?
Find the overall percentage discount this is equivalent to. Round your answer to two decimal places.
James wants to buy a jacket that is originally priced at \$220 and is on sale at 9\% off. The jacket is then further discounted by 15\%.
Find the final selling price of the jacket.
Find the overall percentage discount this is equivalent to. Round your answer to two decimal places.
James believes that if the discounts are applied in the reverse order (that is the 15\% discount first and then the 9\% discount) he will save more money. Is he correct? Explain why.
A microwave selling for \$900 is discounted successively at 6\% and 9\%.
Find the price of the microwave after the first discount.
Find the price of the microwave after the second discount.
Calculate the discounted sales price, if the discount is 6\% + 9\% = 15\%.
Is a single discount of 15\% equal to successive discounts of 6\% and 9\%?
Find the single discount rate that is equivalent to successive discounts of 6\% and 9\%. Write your answer as a percentage to two decimal places.
A guitar is on sale for \$347.90 after a discount of 29\% and an additional discount of 30\%.
Write the formula for the sale price.
Find the overall percentage change this is equivalent to.
Find the original selling price of the guitar.
A bladesmith began her career selling her swords for \$1600. After a few months she marked up the price by 14\%. A few weeks after that, a video of her making the swords went viral, and she marked up the price by 15\%. In a few days she is due to appear on a popular podcast, and in anticipation of the increased demand she marks up the price by 12\%.
Find the price of the bladesmith's swords after all the mark ups.
In response to the changing economy, the price of a car is marked up by 27\%, then discounted by 28\%, marked up again by 14\% and then finally discounted again by 35\%.
Given the car was originally priced at \$38\,000, calculate the new price of the car.
Rosey is deciding which of two different cereals she should buy:
Choco Pops costs \$2.10 for 500\text{ g}.
Special Q costs \$0.24 for 100\text{ g}.
Find the cost per kilogram of Choco Pops.
Find the cost per kilogram of Special Q.
Which of the cereal brands is cheaper to buy?
At a grower’s market, durians are sold at Emporio for 56\text{ c/kg}. At Greenery, each 4.5 \text{ kg} durian is sold for \$3.50.
First, calculate the price of 4.5\text{ kg} of durian from Emporio.
Which store is the best buy?
James paid \$89 for 61\text{ L} of petrol in North Haverbrook. Valentina paid \$76 for 45 \text{ L} of petrol in Dunkilderry.
How much does petrol cost per litre in North Haverbrook?
How much does petrol cost per litre in Dunkilderry?
In which suburb is petrol cheaper?
A computer normally sells for \$3605.67, but is currently on sale. In each of the following scenarios, calculate the percentage discount.
Round each answer to two decimal places.
The computer is discounted by \$325.80.
The computer is on sale for \$3222.37.
Hannah is buying juice for her nephew's birthday party. The choices are the following:
A 1.3 \,\text{L} bottle of apple juice costs \$4.55.
A 3.2 \,\text{L} bottle of orange juice costs \$6.40.
How much does apple juice cost per litre?
How much does orange juice cost per litre?
Which juice is the best buy?
A supermarket sells two different brands of eggs, Sunny Side Up and Classy Chooks:
Sunny Side Up eggs cost \$7.70 for 11 eggs.
Classy Chooks eggs cost \$2.10 for 7 eggs.
Find the cost in cents per egg from Sunny Side Up.
Find the cost in cents per egg from Classy Chooks.
Which brand sells its eggs at a cheaper price?
Two similar quality heaters both originally cost \$2249.
The first heater is discounted by 17\%. Find the new price.
The second heater is discounted by 10\%, and then by a further 7\% after that. Find the new price.
Which heater is the best buy?