Number – Consumer Maths

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Presentation transcript:

Number – Consumer Maths Profit & Loss Number – Consumer Maths By the end of this lesson you will be able to explain and identify the following: Profit Percentage Profit Loss Percentage Loss

Profit & Loss When a retailer calculates the price to be marked on an article, many overhead costs must be taken into account: staff wages, rent, store improvements, electricity, advertising and so on. Profit is the difference between the total of the retailer’s costs (cost price) and the price for which the goods actually sell (selling price). If costs exceed selling price, a loss is made.

Profit Profit = selling price – cost A music store buys CDs at $15 each and sells them for $28.95 each. What is the percentage profit made on the sale of a CD?

Loss Loss = cost – selling price Mario sells he’s Honda for $5000. He brought it for $7500. Calculate the percentage loss?

Selling Price Selling price = (100% + percentage profit) of cost price = (100% + percentage profit) × cost price Selling price = (100% − percentage loss) of cost price = (100% − percentage loss) × cost price

Worked Example