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Year 7 Maths — Profit and loss

Work out profit, loss and discount, and give a profit or loss as a percentage of the cost price.

Name: ________________________

  1. 1.An item is sold for exactly what it cost. What is the profit per cent?

    • a) 100
    • b) 50
    • c) 0
    • d) There is no way to tell

  2. 2.A shopkeeper buys a chair for $600 and sells it for $750. What is the profit? Give just the number.

  3. 3.A shopkeeper buys a fan for $1200 and sells it for $1000. What is the loss? Give just the number.

  4. 4.A shirt is sold for $540 at a loss of 10%. What was the cost price? Give just the number.

  5. 5.Put these sales in order of profit per cent, smallest first.

    • Bought for $100, sold for $105
    • Bought for $40, sold for $60
    • Bought for $200, sold for $220
    • Bought for $50, sold for $60
    • Bought for $80, sold for $100

  6. 6.Every one of these was bought for $400. Match each selling price to its profit per cent, using a minus sign for a loss.

    • Sold for $500
    • Sold for $300
    • Sold for $440
    • Sold for $360
    • Sold for $600
    • -25
    • 25
    • 10
    • -10
    • 50

  7. 7.A watch marked at $2000 is sold with a discount of 15%. What is the selling price? Give just the number.

  8. 8.A toy costs $450 and is sold at a profit of $90. What is the profit per cent? Give just the number.

Answer key — Year 7 Maths — Profit and loss

  1. 1. c) 0
  2. 2. 150
  3. 3. 200
  4. 4. 600
  5. 5. 1. Bought for $100, sold for $105 2. Bought for $200, sold for $220 3. Bought for $50, sold for $60 4. Bought for $80, sold for $100 5. Bought for $40, sold for $60
  6. 6. Sold for $500 → 25; Sold for $300 → -25; Sold for $440 → 10; Sold for $360 → -10; Sold for $600 → 50
  7. 7. 1700
  8. 8. 20