# Worksheet on Gain and Loss Percentage | Profit and Loss Percentage Worksheet

This Worksheet on Gain and Loss Percent contains questions on loss and gain percent, selling price, rate of discount, marked price which is helpful for students to prepare for any kind of examinations or competitive tests. Below there are different type of questions which helps scholars to understand the chapter and solve the problems easily. Here different types of questions are provided with some hints that students can solve easily.

1. What is the selling price?

(a) When marked price = 500 and discount = 15%
(b) When marked price = 1500 and discount = 10%

Solution:

Here marked price and discount percent were given and we need to find the selling price of the product. So to find the selling price we use the formula
Selling price= Marked price – Discount percent of Marked price
By using this formula we can solve the problems.

Substitute the Marked Price and Discount Percent i.e. 500 and 15%

Selling Price = 500 – (15/100)*500

= 500-75

= 425

Substitute the Marked Price and Discount Percent i.e. 1500 and 10%

Selling Price = 1500-(10/100)*1500

= 1500-150

= 1350

2. What is the rate of discount?

(a) When marked price = 20,000 and selling price = 19,000

Solution:

In this, we have marked the price and the selling price of an object and we need to find the rate of discount. To find the rate of discount first we will find the discount by using the formula
Discount= Marked price – Selling price

= 20, 000 – 19, 000

= 1000
Then we will find the rate of discount by using the formula
Rate of Discount = (Discount/ Marked Price)×100
By using this formula we can solve the problems.

= (1000/20, 000)*100

= 100000/20000

= 5

Rate of Discount = 5%

3. What is the marked price?

(a) When selling price = 5,000 and discount = 20%

Solution:

Given selling price and discount percent, and to find a marked price we will use the formula
Marked Price= (Selling Price ×100 ) / 100 – Discount Percent
Using this formula we can solve the problems.

= (5000*100)/100 – (20/100)*5000

= 500000/100 – 20*50

= 5000-1000

= 4000

4. The marked price of a lamp is \$750. It was sold at a discount of 20%. Find the discount allowed on the lamp and also find the selling price?

Solution:

Given the marked price and discount and we need to find the selling price, so we will use the formula
Selling price= Marked price – Discount percent of Marked price
By using this formula we can solve the problem.

= \$750 – 20/100(\$750)

= \$750 – (20*\$750)/100

= \$750 – \$15000/100

= \$750 – \$150

= \$600

5. An electrical blanket was marked for \$350 and sold to the customer for \$420.
Find the rate of discount on the electrical blanket.

Solution:

Given the market price and selling price and we need to find the rate of discount, so firstly we will find the discount of the item by using the formula
Discount= Marked Price – Selling Price = \$350 – \$420 = -\$70
Then we will find the rate of discount by using the formula
Rate of Discount = (Discount/ Marked price)×100

= (\$70/\$350)*100

= 20%

6. A couch set was sold for \$5000 after allowing a discount of 8% on the marked price. Find the marked price of the couch.

Solution:

Given selling price and discount percent, and to find a marked price we will use the formula
Marked price= (Selling price ×100 ) / 100 – Discount Percent
Using this formula we can solve the problem.

= (\$5000*100)/100- 8/100*\$5000

= \$5000 – 8*50\$

= \$4500

7. A vendor offers a 15% discount to the customer and still makes a profit of 10%.
What is the Cost Price of a pair of shoes which are marked for \$550?

Solution:

First, we need to find the selling price of the shoe using the formula
Selling price= Marked price – Discount Percent of Marked price

= \$550 – 15/100(\$550)

= \$550 – \$8250/100

= \$550 – \$82.5

= \$ 467.5

and then we can find the Cost price of the shoe using the formula
Cost Price = (Selling Price ×100 ) / 100 + Profit Percent

= (\$467.5*100)/100+10/100*\$550

= \$46750/100+\$5500/100

= \$467.5+\$55

= \$522.5

8. A merchant marked his products 30% above the Cost Price and allows a discount of 10% on it.
What percent does he gain?

Solution:

Let Cost price be 100
Marked price= 130
discount= 10%
Then find the selling price using the formula
Selling price= Marked price – Discount percent of Marked price

= 130-10/100*100

= 120
and then find the gain percent
Gain percent= ((Selling price – Cost price) / Cost price) ×100

= (120-100)/100*100

= 20%

9. Harry bought 240 dozen files for \$36 a dozen and his other expenses were \$50.
Harry sold each file for \$5. Find her gain percent.

Solution:

First, we must find the cost price and then the selling price after that profit percent using the formula
Profit Percent= ((Selling Price – Cost Price) / Cost Price) ×100

1 Dozen = \$36

12 files = \$36

1 file = \$36/12 = \$3

C.P = 240*36= 8640

Total C.P = \$8640+\$50

= \$8690

S.P = 240*12*5

= \$14400

Profit Percent = ((\$14400-\$8690)/\$8690)*100

= 65.7%

10. Mr. Mike bought a travel bag for \$550 and he sold it to his friend Jim at a profit of 5%.
Jim sold it to Noah at a profit of 15%.how much money did Noah pay for the travel bag?

Solution:

Given the cost price and the profit percent and we need to find the selling price of the bag.
C.P of Mike = \$550

S.P of Mike = \$550+5/100(\$550)

= \$550+\$2750/100

= \$550+\$27.5

= \$577.5

As per the given data S.P of Mike = C.P of Jim

C.P of Jim = \$577.5

S.P of Jim = \$577.5+15/100(\$577.5)

= \$577.5+\$86.625

= \$664.125

From the given data S.P of Jim = C.P of Noah

Therefore, Noah paid \$664.125 for the travel bag.