01 Key Concepts
Cost Price (CP)
The price at which an item is bought.
Selling Price (SP)
The price at which an item is sold.
Profit
Occurs when SP > CP. Profit = SP - CP.
Loss
Occurs when CP > SP. Loss = CP - SP.
Profit/Loss Percentage
Profit% = (Profit/CP) x 100. Loss% = (Loss/CP) x 100. Always calculated on the cost price.
03 Key Formulas
- Profit = SP - CP
- Loss = CP - SP
- Profit% = (Profit/CP) x 100
- Loss% = (Loss/CP) x 100
04 Solved Examples
Example 1 A book is bought for $80 and sold for $100. Find the profit and profit percentage.
- Profit = SP - CP = 100 - 80 = 20.
- Profit% = (20/80) x 100.
Answer: Profit = $20, Profit% = 25%
Example 2 A phone bought for $500 is sold at a 10% loss. Find the selling price.
- Loss = 10% of 500 = 0.10 x 500 = 50.
- SP = CP - Loss = 500 - 50.
Answer: $450
Example 3 An item sold for $joke $joke — find CP if SP = $138 and profit is 15%.
- SP = CP + 15% of CP = 1.15 x CP.
- CP = SP / 1.15 = 138 / 1.15.
Answer: CP = $120
05 Practice Questions
1CP = $50, SP = $65. Find profit.
$15
2CP = $200, SP = $170. Find loss.
$30
3CP = $40, SP = $50. Find profit percentage.
25%
4CP = $150, loss of 20%. Find SP.
$120
5SP = $220, profit = 10%. Find CP.
$200
📄 Profit & Loss — Downloadable Worksheet
10 questions with a full answer key. Grab the PDF to print, or try the interactive version in your browser.