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Name: Date:

Calculating Profit
Key terms:
CP – Cost Price: this is how much something Profit: this is how much extra money is
is bought. made when an item is sold. Sometimes this
SP – Selling Price: this is how much is called gain.
something is sold. Loss: this is how much money is lost when
an item is sold.
When a CP is smaller than the SP, then there will be a Profit; When the CP is bigger
than the SP, then there will be a Loss
SP – CP = Profit CP – SP = Loss

Example: Hadriel bought 12 lollypops at 98p for 1. He puts each in boxes worth 50p
and sold 5 for £1. 70 then sold the remaining for £1.55. How much profit did he make?
(First, find the total cost price) 98 + 50 = 1.48 x 12 = £17.76
(Then find the selling price) 1.70 x 5 = 8.50 1.55 x 7 = 10.85 10.85 + 8.50 = 19.35
SP – CP = Profit
SP 19.35
CP 17.76
Profit 1.59 Hadriel made £1.59 Profit.
SOLVE
1. Zara makes incense. She buys all her ingredients for ₦5000 and makes 10 pots. She
sells 5 to her family for ₦500 each and the other 5 at ₦750 each to her parents’
friends. Did she make a profit or a loss? How much profit or loss did she make?

2. Zion bought 6 shoes at € 2.75 a pair and designed it with 6 different glitter glues which
he bought at 95p for each colour. He sold one pair € 3.95 and the other 5 for €4.00.
How much gain did he make?

3. Fame buys a fabric for ₦5000 she buys other things for ₦4000 and made a dress. She
bought more fabrics and made 4 of these dresses and sold each at ₦12000. How
much profit did she make for all 5 dresses?
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ANSWERS
1. Zara makes incense. She buys all her ingredients for ₦5000 and makes 10
pots. She sells 5 to her family for ₦500 each and the other 5 at ₦750 each to
her parents’ friends. Did she make a profit or a loss? How much profit or loss
did she make?
Selling price = (₦500 x 5) + (₦750 x 5) = ₦2500 + ₦3750 = ₦6250

SP – CP

₦6250 – ₦5000= ₦1250

2. Zion bought 6 shoes at € 2.75 a pair and designed it with 6 different glitter
glues which he bought at €0.95 for each colour. He sold one pair € 3.95 and
the other 5 for €4.00. How much gain did he make?

Selling Price = (€4.00 x 5) + €3.95 = €23.95

Cost Price (€2.75 x 6) + (€0.95 x6) = €16.50 + €5.70 = €22.20

SP – CP

€23.95 – €22.20 = €1.75

3. Fame buys a fabric for ₦5000 she buys other things for ₦4000 and made a
dress. She bought more fabrics and made 4 of these dresses and sold each
at ₦12000. How much profit did she make for all 5 dresses?

Cost Price = (₦5000 + ₦4000) x 5 = ₦9000 x 5 = ₦45000

Selling Price = ₦12000 x 5 = ₦60000

SP – CP
₦60000 – ₦45000 = ₦15000