PROFIT AND LOSS
WEEK TEN
PROFIT AND LOSS
Example 1
A man bought a leather bag for N350.00 and sold it for N360.00. will he have more money or less money with him?
Solution
Selling price = N460.oo
Cost price = - N350.00
Profit(Gain) = N110.00
Note: profit or gain = selling price – cost price
Example 2
If a lady bought a wristwatch for N800 and sold it for N600. Will he have money or less money with her?
Solution
The selling price is less than. Therefore, she will have less money with her. That is, she sold at a loss.
The cost price of wrist watch = N800.00
Selling price = N600.00
Loss N200.00
EXERCISE
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- Chapters 9
- Category Primary 4
- Author ClassNotes Edu
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