# PROFIT AND LOSS PERCENT

Profit or loss percent is expressed as a percentage of the cost price

EXAMPLE 1

An article bought for \$3,000 was sold for \$3,300. Find the profit percent

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Solution

Cost price = \$3,000

Selling price = \$3,300

Profit = \$3300 – \$3,000 = \$300

Profit % = Profit     x 100

Cost price    1

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= 300     x   100

3000          1

= 300 x 1 = 300 = 10%

30 x 1       30

EXAMPLE 2

A book bought for \$25,000 was sold for \$22,000. What is the loss percent?

Solution

Cost price =\$25,000

Selling price= \$22,000

Loss = \$25,000 – \$22,000 = \$3,000

Loss % =loss           x 100

Cost price      1

=3000   x  100  = 12%

25000       1

EXERCISE

 Cost price Selling price Profit % Loss% 1. \$1,300 \$1,365 1. \$33,555 \$32,446 2. \$56,000 \$59,540 3. \$100,680 \$99,960

SIMPLE INTERREST

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