CLASS: PRIMARY 4
TERM: 2ND TERM
PROFIT AND LOSS
A man bought a leather bag for N350.00 and solt it for N360.00. will he have more mponey or less money with him?
Selling price = N460.oo
Cost price = - N350.00
Profit(gain) = N110.00
Note: profit or gain = selling price – cost price
If a lady bought a wrist watch for N800 and sold it for N600. Will he have money or less money with her?
The selling is price is less than. Therefore, she will have less money with her. That is, she sold at a loss.
Cost price of wrist watch = N800.00
Selling price = N600.00
A car battery cost N3050. And it was sold for N 2895. What is the loss on the selling price
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