Cambridge International Mathematics

212 Topics in arithmetic (Chapter 10)

3 Brad bought an old car for$ 600. He spent$ 1038 restoring it and sold it for$ 3500. Find his profit

or loss on the sale.

4 Ed bought 180 caps at$10each to sell at a baseball game. Unfortunately he only sold 128 caps at$15

each. Find his profit or loss on the sale of the caps.

5 Find i the profit ii the selling price for the following items:

a a shirt is purchased for$20and marked up10%

b a DVD player is purchased for$250and marked up80%

c a rugby ball is purchased for$ 50 and sold at a15%profit

d a house is purchased forE255 000and sold at a21%profit.

6 Find i the loss ii the selling price for the following items:

a a jumper is purchased forE 55 and marked down30%as it

is shop-soiled

b a heater is purchased for$ 175 and marked down35%as

winter is almost over

c a microwave is purchased for$105and is sold at a25%loss

in a stock-clearance

d a car is purchased forE 9600 and sold at a14%loss as the

car dealer has too many used cars.

7 A contractor buys his materials from a wholesaler and sells them at a12%mark up. For one particular

job the materials cost him$920. What profit does he make on the materials?

8 A pair of shoes has a marked price of$160. However, the store is having a clearance sale, so a28%

discount is offered.

a How much discount will be deducted? b What is the selling price of the shoes?

c If a 12 :5%sales tax must be paid on the selling price, what will be the final price paid by the

customer?

PERCENTAGE PROFIT AND LOSS

Sometimes it is important for a retailer to express profit or loss as apercentage of the cost price.

Profit and loss correspond to a percentage increase or decrease in the price respectively.

Example 3 Self Tutor

A bicycle was bought for$240and sold for$290:

Find the profit as a percentage of cost price.

Profit= $290¡$240 = $50

) profit as apercentageof cost price =

profit

cost price

£100%

=

50

240

£100%

¼ 20 :8%

We are really

calculating the

in the price!

percentage increase

IGCSE01

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Y:\HAESE\IGCSE01\IG01_10\212IGCSE01_10.CDR Thursday, 2 October 2008 12:07:08 PM PETER