Grade 12 Profit and Loss Worksheet
A Grade 12 Math worksheet covering advanced concepts in profit and loss calculations, including percentages, discounts, and markups.
Includes
Standards
Profit and Loss Analysis
Name:
Date:
Score:
Read each question carefully and provide detailed answers. Show all your work for calculations.
1. A retailer buys an item for $150 and marks it up by 40%. What is the selling price?
$190
$210
$225
$250
2. If a product is sold for $300 after a 25% discount, what was its original price?
$375
$400
$420
$450
1. The difference between the selling price and the cost price is called the .
2. When the cost price is greater than the selling price, a occurs.
3. A is a reduction in the price of a product or service.
1. A business purchases 50 units of a product for $20 each. They sell 40 units at $35 each and the remaining 10 units at a discounted price of $25 each. Calculate the total profit or loss for the business.
2. Explain the concept of 'markup percentage' and provide an example of how it is calculated.
1. Gross profit is calculated by subtracting operating expenses from revenue.
True
False
2. A higher profit margin always indicates a more successful business.
True
False
Match each term on the left with its definition on the right.
1. Cost Price
a. Price at which an item is sold
2. Selling Price
b. Price at which an item is bought
3. Profit Margin
c. Profit as a percentage of revenue
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