Arithmetic (Beginner) · Quick Reference

Profit & Loss Cheat Sheet

Arithmetic (Beginner) · Lesson 14/21

In one line: profit and loss calculations tell us whether a sale made money or lost money, and by how much — essential for anyone buying or selling.

Key Ideas

1Cost Price (CP). The price at which an item is bought.

2Selling Price (SP). The price at which an item is sold.

3Profit. Occurs when SP > CP. Profit = SP - CP.

4Loss. Occurs when CP > SP. Loss = CP - SP.

5Profit/Loss Percentage. Profit% = (Profit/CP) x 100. Loss% = (Loss/CP) x 100. Always calculated on the cost price.

Worked Examples

A book is bought for $80 and sold for $100. Find the profit and profit percentage.

Profit = $20, Profit% = 25%

A phone bought for $500 is sold at a 10% loss. Find the selling price.

$450

An item sold for $joke $joke — find CP if SP = $138 and profit is 15%.

CP = $120

Formulas

Profit = SP - CP

Loss = CP - SP

Profit% = (Profit/CP) x 100

Loss% = (Loss/CP) x 100

Practice Yourself

CP = $50, SP = $65. Find profit.

$15

CP = $200, SP = $170. Find loss.

$30

CP = $40, SP = $50. Find profit percentage.

25%