Calculate Profit or Loss Percent

We will learn how to calculate profit or loss percent using formula. We know when the selling price is more than the cost price, the seller makes a profit and when the selling price is less than the cost price, the seller suffers a loss.

Formula to find profit or loss percent:

Profit% = (profit/cost price) × 100%

Loss% = (loss/cost price) × 100%

Solved examples:

1. Adrian bought 50 dozen pencils at $8 a dozen. Out of these, 20 pencils were found broken. He sold the remaining pencils at $0.80 each pencil. Find his gain or loss percent.

Solution:

Cost price (C.P.) of 50 dozen pencils = $8 × 50 = $400.

Number of broken pencils = 20.

Total number of pencils = 50 × 12 = 600.

Number of good pencils = 600 - 20 = 580.

Selling price (S.P.) of 580 pencils = $ 0.80 × 580 = $ 464.

Since, selling price (S.P.) > cost price (C.P.), there is a gain.

Gain = selling price (S.P.) - cost price (C.P.)

= $(464 - 400)

= $64

Gain% = gain/cost price × 100

= 64/400 × 100

= 6400/400

= 16

Therefore, gain percent is 16%

More examples to calculate profit or loss percent:

2. A dealer bought 18 chairs at $550 per chair. He sold 12 of them at $650 per chair and the remaining chairs at $ 500 per chair. Find his gain or loss percent.

Solution:

Cost price (C.P.) of 18 chairs = $550 × 18 = $9900.

Selling price (S.P.) of 12 chairs = $650 × 12 = $7800.

Number of remaining chairs = 18 - 12 = 6.

Selling price (S.P.) of remaining 6 chairs = $500 × 6 = $3000.

Total selling price (S.P.) of 18 chairs = $7800 + $3000 = $10800.

Since, selling price (S.P.) > cost price (C.P.), there is a gain.

Gain = selling price (S.P.) - cost price (C.P.)

= $10800 - $9900

= $900

Gain% = gain/cost price × 100

= 900/9900 × 100