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
Solution
Cost price = $3,000
Selling price = $3,300
Profit = $3300 – $3,000 = $300
Profit % = Profit    x 100
Cost price   1
              = 300     x  100
3000Â Â Â Â Â Â Â Â Â 1
= 300 x 1 = 300 = 10%
30 x 1Â Â Â Â Â Â 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% Â
25000Â Â Â Â Â Â 1
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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 |
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See also
SIMPLE PROBLEMS ON PERCENTAGES