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Discount Profit Loss 07062024 080919am
Discount Profit Loss 07062024 080919am
REASONING
20 When I am 5% older than I am now, I will be 21 years old. How old am I now?
21 The price of bread has increased by 250% in the past 20 years. If a loaf of bread costs $2.00
now, how much would it have cost 20 years ago?
22 I am six months old. If I gain 10% of my current mass I will be three times my birth mass. If
my birth mass was 3 kg, what is my mass now? Round your answer to one decimal place.
23 I am 33 years old. I have lived in England for 8 years. If I stay in England, how old will I be
when the number of years I have lived there is 50%
of my age? REFLECTION
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24 My mother is four times older than I am. My sister In what situations would it be
Digital doc is 75% of my age, and 10% of my grandfather’s useful to use the shortcut methods
WorkSHEET 6.1 age. My father is 50, 2 years older than my mother. for common percentages?
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How old are my sister and grandfather?
6B Discount
■ To get rid of old stock (for example out-of-date fashions at the end of a season), store
managers often reduce prices by giving discounts.
■ A discount is a reduction in price.
■ A discount can be shown as an amount in dollars.
■ A discount can be shown as a percentage of the marked price (that is, the price marked on the
article).
WORKED EXAMPLE 4
THINK WRITE
1 Find the percentage of the marked price that is paid, 100% - 10% = 90%
by subtracting the percentage discount.
2 Find the sale price of the hat. 90% of $72 = 0.9 ì $72
= $64.80
3 Write the answer in a sentence. The sale price of the hat is $64.80.
■ Method 2
• The new sale price of the item can be solved by calculating the amount of the discount,
then subtracting the discount from the marked price.
• Alternative solution:
Discount = 10% of $72.00
= $7.20
Sale price = marked price - discount
= $72.00 - $7.20
= $64.80
WORKED EXAMPLE 5
Peddles is a bicycle store that has offered a discount of 15% on all goods.
Find:
a the cash discount allowed on a bicycle costing $260
b the sale price of the bicycle.
THINK WRITE
a Find the discount, which is 15% of the marked price. a Discount = 15% of $260
= 0.15 ì $260
= $39
The cash discount allowed is $39.
b 1 To find the sale price, subtract the discount b Sale price = marked price - discount
from the marked price. = $260 - $39
= $221
2 Answer the question in a sentence. The sale price of the bicycle is $221.
■ To calculate the percentage discount, write the monetary amount as a percentage of the
original price.
cash discount ì 100
Percentage discount = %.
original price 1
WORKED EXAMPLE 6
At Peddles, the price of a bicycle is reduced from $260 to $200. Calculate the percentage discount.
THINK WRITE
REMEMBER
EXERCISE
6B Discount
INDIVIDUAL FLUENCY
PATHWAYS
1 Calculate the discount for each of the items in the table, using the percentage shown.
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Item Marked price Discount
Activity 6-B-1
Discount a MP3 player $210 20%
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Activity 6-B-2 b Skateboard $185 25%
More discounts
doc-6907 c Rollerblades $330 15%
Activity 6-B-3
Tricky discounts d Mobile phone $190 40%
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2 Without the use of a calculator, calculate the percentage discount for each of the following.
3 WE4 Find the sale price of each article when the marked price and discount are shown as in
this table.
d $156 33 1%
3
e $69.95 7 1%
2
5 Find the percentage discount given on the items shown in the table. Round to the nearest per cent.
UNDERSTANDING
6 A PS3 player was advertised with a saving of $148. Estimate the percentage discount being
offered.
A$599
SAVE $148.00
REASONING
20 Movie tickets sell for $12.00 each, but if you buy 4 or more you get $1.00 off each ticket. What
percentage discount is this? We figure $1 as a percentage of $11.
21 MC I am allowed a discount of 10% off the total price of 6 articles that cost $x each. The
price finally paid is:
A $60x B $5.4x C $0.06x
D $0.6x E $6x
22 You are in a surf shop and you hear ‘For today only: take fifty per cent off the original price
and then a further forty per cent off that.’ You hear a customer say ‘This is fantastic! You get
ninety per cent off the original price!’ Is this statement correct? Explain why.
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23 Is there a difference between 75% off $200 and 75% of $200? Explain.
Digital doc
24 Henry buys a computer priced at $1060, but with a
Investigation
Successive 10% discount. Sancha finds the same computer selling REFLECTION
discounts at $840 plus a tax of 18%. Who has the best buy? How are discounts used to
doc-2228 Explain. encourage people to purchase?
Selling price
■ To calculate the selling price of an item given the cost price and the percentage profit, increase
the cost price by the given percentage.
Selling price = (100% + percentage profit) of cost price
■ To calculate the selling price of an item given the cost price and the percentage loss, decrease
the cost price by the given percentage.
Selling price = (100% - percentage loss) of cost price
WORKED EXAMPLE 7
Ronan operates a sports store at a fixed profit margin of 65%. For how much would he sell a pair of
running shoes that cost him $40?
THINK WRITE
1 Find the selling price by first adding the percentage Selling price = 165% of $40
profit to 100% then finding this percentage of the cost = 1.65 ì $40
price. = $66
2 Write the answer in a sentence. The running shoes would sell for $66.
WORKED EXAMPLE 8
David bought a surfboard for $300 and sold it at a 20% loss a year later. What was the selling price?
THINK WRITE
1 Find the selling price by first subtracting the Selling price = 80% of $300
percentage loss from 100% then finding this = 0.80 ì $300
percentage of the cost price. = $240
2 Write the answer in a sentence. David sold the surfboard for $240.
WORKED EXAMPLE 9
A music store buys CDs at $15 each and sells them for $28.95 each. What is the percentage profit
made on the sale of a CD?
THINK WRITE
■ Modern accounting practice favours calculating profit or loss as a percentage of the selling
price. This is because commissions, discounts, taxes and other items of expense are
commonly based on the selling price.
profit
Percentage profit = ì 100%
selling price
loss
Percentage loss = ì 100%
selling price
REMEMBER
EXERCISE
6C Profit and loss
Assume percentage profit or loss is calculated on the cost price unless otherwise stated.
INDIVIDUAL
PATHWAYS FLUENCY
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1 WE7,8 Find the selling price for each of the following:
Activity 6-C-1
Profit and loss Cost price % Profit/loss
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Activity 6-C-2
a $18 40% profit
More profit and loss
doc-6910 b $116 25% loss
Activity 6-C-3
Advanced profit c $1300 30% profit
and loss
doc-6911 d $213.00 75% loss
e $699 33 1% profit
3
2 WE9 For each of the following items, find the percentage profit or loss.
b $40 $50
c $40 $30
d $75 $85
e $38.50 $29.95
UNDERSTANDING
REASONING
15 A fruit and vegetable retailer buys potatoes by the tonne for $180, and sells them in 5-kg bags
for $2.45. What percentage profit is made?
16 Two business partners bought a business for $158 000 and sold it for $213 000. The profit was
to be shared between the two business partners in the ratio of 3 : 2.
What percentage share does each person receive?
17 What is the maximum discount a retailer can offer on her marked price of $100 so that she
ends up selling at no profit and no loss, if she had initially marked her goods up by $50?
18 Four friends dine out at a restaurant. They calculate
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that their bill should be $96. When they get the bill REFLECTION
Digital doc at the end of the night, the total is $108, including How can you tell if an item is being
WorkSHEET 6.2 GST of 10%. Was the bill correct? Use sold for a profit or a loss?
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mathematical reasoning to justify your answer.
Summary
Common percentages and shortcuts
■ To find 10% of an amount, move the position of the decimal point one place to the left.
■ To find 1% of an amount, move the position of the decimal point two places to the left.
Discount
■ A discount is usually a percentage of the marked price.
■ To find the discounted price of an item, reduce the original price by the amount of the
discount.
■ To find the percentage discount, write the discount as a percentage of the original price.
Chapter review
FLUENCY 3 Jacques’ furniture shop had a sale with 1
off
3
15 Shannon buys a used car for $7500. The dealer 19 Antwert buys a pair of jeans for $59.95. The
requires a 15% deposit. Calculate the deposit original price tag was covered by a 30% sticker but
Shannon has to pay. the sign on top of the rack said an ‘Additional 15%
16 Ricky Ponting buys a cricket bat for $85, signs it and off already reduced prices.’
donates it for a sport’s auction. If it sells for $500: a How could Antwert work out how much he had
a what is the percentage increase in the bat’s saved?
value? b What percentage of the original cost did he end
b what is the dollar value of the signature? up saving?
17 Sets of 90-minute CDs are sold as in the following 20 Ann has $100 on March 30th. This increased by
packs. Which is the best buy? 10% on April 30th. The total amount increased by
10% again on May 30th.
Cost ($) Number of CDs a How much did Ann have on May 30th?
$3.25 6 b Compare your answer with a 20% increase on
$100. Do they get the same answer?
$4.99 10
$7.50 15
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18 Which is a better buy — 400 g of biscuits costing
Interactivities
$2.98, or a pack of biscuits with 400 g + 25% extra,
Test yourself
costing $3.28? Chapter 6
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Word search
Chapter 6
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Crossword
Chapter 6
int-2626
458 Answers
19 A Problem solving
20 $1.00/$12.00 ì 100% = 8.33%, so this is a 8.33% discount. 1 $164.35
21 B 2 $175
22 No, the statement is not correct. For example, if you 3 $3792.67
have a cost of $100, a 50% discount = $50 and a 40% 4 $85
discount = $20. 5 Estimates are total, $140; change, $10; exact amounts are
Total discount = $70; this represents a 70% discount, $138.35, $11.65.
not 90%. 6 13%
23 Yes (difference in the meanings) 75% off $200 = $150 off 7 $1.99
the price so would pay only $50. 8 a $140.40
75% of $200 = $150 does not represent a discount. b 44.4%
24 Henry pays $954; Sancha pays $991.20. Henry has the 9 $77.03
best buy. 10 $83.68
11 34%
6C Profit and loss 12 9.375%
1 a $25.20 b $87 c $1690 13 $32.20
d $53.25 e $932 14 $144.65
2 a 3313 % profit b 25% profit c 25% loss 15 $1125
16 a 488%
d 1313 %profit e 22.2% loss b $415
3 60% 17 Options are 50c per CD, 49.9c per CD, 54.17c per CD.
4 a $545 b 156% Therefore the $4.99 pack is best buy.
5 a 1:4 b 25% c 1:5 18 First pack costs 76c per 100 g; second pack costs 66c per
d 20% 100 g; so the second pack is the best buy.
e The ratio of the profit to the cost price as a fraction is 19 a Saved $40.81 b 40.5% saved
the same as the percentage profit on the cost price. 20 a $121 b $120. No
6 a $325 b 27% c 21%
d The percentage profit is greater on the cost price. CHAPTER 7
7 a $79.95 b 57%
8 18.75% Congruence and transformations
9 166.5% Are you ready?
10 $1643.40 1 ±PQR or ±RQP
11 a $39 b $27 c $274.45 d $66 2 DFGH, DFHG, DGHF, DGFH, DHFG, DHGF
12 a $1.00 profit per kg 3 a x = 72 b y = 26 c z = 59
b 55.6%
4 a i Co-interior
c 35.7%
d The percentage profit is greater on the cost price. ii Corresponding
13 a $77 b 49% c 33% iii Alternate
14 C
b a = 52è (alternate), b = 128è (co-interior),
15 172%
c = 52è (corresponding), d = 128è (vertically opposite)
16 60%, 40%
17 50% c AB is not parallel to CD as the alternate angles are not
18 GST = $9.60. The restaurant overcharged the group by equal.
$2.40 5
X X Y Y PP N N
Chapter review
Fluency
1 a $21.70 b $178.35 c $67.55
2 $5.95
3 a $6.30 b $4.20 c $10.50 6 y
d $21.60 e $0.35 f $4.25 6
g $11.85 h $212.60
Answers 6A ➜ 6C
Answers 459