# Worksheets on Profit and Loss Percentage | Word Problems on Profit and Loss with Answers

This Worksheet on Profit and Loss Percent helps the students in preparing for their examinations. In this worksheet, we can see questions on Profit and Loss percentage. Here we can see about profit and loss percent in which profit means the amount which we gained after selling a product and profit percent means the percent which is calculated with the Cost price in the base.

And loss means when we sold an item or a product less than it’s the actual price, then the Loss occurs. Loss percent means is the percent which is expressed as the percentage of the cost price. Here below we can see some examples of Profit and Loss percent with hints so that scholars can practice easily.

1. Find Profit or Loss percent when:

(a) Cost Price = 200 and Selling Price = 350

Solution:

To find profit and profit percent the formula is
Profit= SP-CP

= 350 – 200

= 150

Profit%= (Profit/CP) × 100

= (150/200)*100

= 75

Therefore, for the given data we have a 75% Profit Percent.

2. Find the cost price when:

(a) Selling Price = 500 and Gain % = 5%

Solution:

To find the CP the formula is

CP = Selling Price × 100/100 + gain%
= 500*100/(100+5)

= 50000/105

= 476.19

3. Find selling price when

(a) Cost Price = 900 and Gain % = 2%

Solution:

To find the SP the formula is

Selling Price = Cost Price(100 + Profit%)/100

= 900(100+2)/100

= (900*102)/100

= 918

4. The cost price of tin is \$20 and the selling price of the tin is \$26. Find the profit of the tin?

Solution:

To find the profit of the tin we will use
Profit(P)= Selling Price(SP) – Cost Price (CP)

= \$26-\$20

= \$6

5. John sold two bicycles for \$15,000 each. By selling one bicycle he gained 10% and on the other, he lost 15%.
Find his total gain or loss.

Solution:

Given Selling price and Profit% of one cycle. First, we will find the CP of the first cycle and then we will find the Loss of another cycle using the formula

C.P of one cycle when profit % is given = (Selling Price × 100)/100 + gain%

= 15, 000*100/100+10

= 1500000/110

= \$13636.36

C.P of the other cycle when loss % is given = (Selling Price × 100)/100 – Loss%

= (15, 000*100)/100-15

= \$17647.05

6. A lounge set was bought for \$4800 and \$130 was spent on transportation and \$500 on the repair. And it was sold at a loss of 10%. Find the S.P. of the lounge set?

Solution:

Here we must add the transportation and repair charges and then we must find the S.P of the lounge set using the formula

Total Cost Price = \$4800+\$130+\$500

= \$5430

Formula to find S.P when C.P and Loss% are given

S.P = (C.P(100-Loss%))/100

= \$5430(100-10)/100

= \$488700/100

= \$4887

7. Mr.Mike sold his car for \$50,000 thereby gaining 15%. Find the C.P. of the car?

Solution:

In this S.P and profit, % is given and we should find the C.P of the car.
Let the C.P be 100,
As profit% is 15, S.P= 100+15
Let the C.P of the car be X,
Now make a proportion
100/X= 115/50,000
then solve X i.e. on performing basic math we get the C.P of the Car as \$43478.26.

8. Oliver bought a bike for \$15,200 and sold it at a profit of 10 ¹/₂ %. Find the selling price of the bike?

Solution:

Given CP and the profit percent, we should find the selling price using the formula
SP= CP(100+P%)  / 100.

= (\$15,200(100+21/2))/100

= (\$15200*221/2)/100

= \$16796

9. Leo sells a table for \$540 and loses 6%. At what price must he sell it to gain 15%?

Solution:

As SP and Loss Percent are given we must find the CP of the table.

C.P = (Selling Price × 100)/100 – Loss%

= (\$540*100)/(100-6)

= \$574.46

Selling Price he needs to sell to obtain a gain of 15% is

Selling Price = Cost Price(100 + Profit%)/100

= \$574.46(100+15))/100

= \$660.63

Leo needs to sell the table for a Cost of \$660.63 to gain a Profit of 15%.

10. By selling a laptop for \$32,000, Jack loses 20%. How much percent would he gain or lose by selling it for \$35,000?

Solution:

First, we must find the CP of the laptop, and then we must see that he will get profit or loss if he sells for \$35,000.

S.P = \$32, 000

Loss % = 20

C.P = (Selling Price × 100)/100 – Loss%

= (\$32, 000*100)/100-20

= \$32, 00000/80

= \$40, 000

S.P given is \$35,000

C.P = \$40, 000

Loss = C.P – S.P

= \$40, 000 – \$35, 000

= \$5000

11. The selling price of 15 pens is equal to the cost price of 20 pens. Find the gain percent?

Solution:

20 C.P = 15 S.P

C.P/S.P = 15/20

C.P/S.P= 3/4

Gain % = ((S.P -C.P)/C.P)*100

= ((4-3)/3)*100

= 1/3*100

= 33.33%

Profit Percent is 33.33%

12. The cost price of 20 apples is equal to the S.P. of 30 apples. Find the loss percent.

Solution:

20 C.P = 30 S.P

C.P/S.P = 30/20

= 3/2

Loss% = ((Cost Price – Selling Price)/Cost Price) *100

= ((3 -2)/3)*100

= (1/3)*100

= 33.33%

Loss Percent is 33.33%