Profit and Loss questions" New Secondary mathematics"

 Loss and Profit Questions:

Q:1a, A bicycle which costs 180$ is sold for 240$. Express the profit as a percentage of the cost price.

Solution:

Profit= selling price- cost price

            =240$-180$

            =60$

Required percentage= (60$/180$)*100

                        = 33%

Q:1b. an antique chest which costs $6000 is sold for $5000. Express the loss as a find its selling price.

Solution:

Loss=cost price-selling price

                        =$6000-$5000

                        =$1000

Required percentage= ($1000/$5000)*100

                                    = 25%