Grade 8 Profit and Loss Worksheet
This worksheet helps Grade 8 students understand and calculate profit, loss, cost price, selling price, and related percentages through various real-world scenarios.
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Profit and Loss Worksheet
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Date:
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Read each question carefully and calculate the profit, loss, cost price, selling price, or profit/loss percentage as required. Show all your work.
1. A shopkeeper buys a bicycle for $150 and sells it for $180. Calculate the profit or loss.
2. Sarah buys a vintage dress for $75 and later sells it at a garage sale for $60. Calculate the profit or loss.
3. When the selling price is greater than the cost price, there is a .
4. When the cost price is greater than the selling price, there is a .
5. Profit is calculated as Selling Price - .
6. Loss is calculated as Cost Price - .
7. If the cost price of an item is $200 and the selling price is $250, what is the profit percentage?
20%
25%
30%
50%
8. A merchant sells an item for $120, incurring a loss of $30. What was the cost price of the item?
$90
$120
$150
$180
9. A vendor buys 10 dozen eggs for $45. If 1 dozen eggs break, and he sells the remaining eggs at $5 per dozen, find his total profit or loss.
10. By selling a watch for $600, a man gains 20%. What was the cost price of the watch?
11. If an item is sold at a loss, the selling price is less than the cost price.
True
False
12. Profit percentage is always calculated on the selling price.
True
False