Grade 7 Math — Profit and loss
Work out profit, loss and discount, and give a profit or loss as a percentage of the cost price.
Name: ________________________
1.A watch marked at $2000 is sold with a discount of 15%. What is the selling price? Give just the number.
2.A shopkeeper buys a chair for $600 and sells it for $750. What is the profit? Give just the number.
3.Put these sales in order of profit per cent, smallest first.
- Bought for $80, sold for $100
- Bought for $50, sold for $60
- Bought for $200, sold for $220
- Bought for $40, sold for $60
- Bought for $100, sold for $105
4.A toy costs $450 and is sold at a profit of $90. What is the profit per cent? Give just the number.
5.An item is sold for exactly what it cost. What is the profit per cent?
- a) 0
- b) There is no way to tell
- c) 100
- d) 50
6.Profit per cent is always worked out as a percentage of...
- a) the selling price
- b) the profit
- c) the cost price
- d) the discount
7.A trader buys a bag for $800 and sells it at a profit of 25%. What is the selling price? Give just the number.
8.Sort each sale by whether it made a profit or a loss.
Groups: Profit · Loss
- Bought for $200, sold for $250
- Bought for $500, sold for $450
- Bought for $1000, sold for $950
- Bought for $40, sold for $44
- Bought for $90, sold for $120
- Bought for $75, sold for $60
Answer key — Grade 7 Math — Profit and loss
- 1. 1700
- 2. 150
- 3. 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
- 4. 20
- 5. a) 0
- 6. c) the cost price
- 7. 1000
- 8. Bought for $200, sold for $250 → Profit; Bought for $500, sold for $450 → Loss; Bought for $90, sold for $120 → Profit; Bought for $1000, sold for $950 → Loss; Bought for $75, sold for $60 → Loss; Bought for $40, sold for $44 → Profit