Applications: Percentages, Profit, Loss, and Interest — Practice

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Recall / Warm-Up

Find $15\%$ of 2,000 shillings.

12 out of 40 pupils own a bicycle. Express this as a percentage.

A trader buys a basket at 3,000 shillings and sells it at 2,400 shillings. Is this a profit or a loss, and by how much?

A trader buys a bicycle at 150,000 shillings and sells it at 180,000 shillings. Find the profit.

A trader buys a goat at 60,000 shillings and sells it at 52,000 shillings. What happened, and by how much?

Profit of 8,000 sh, computed as SP − CP without checking which price is larger

Loss of 8,000 sh, because CP (60,000) is larger than SP (52,000), so the gap CP − SP = 8,000 is a loss

Profit of 112,000 sh, adding the two prices together

No change, since both prices are close in value

A trader's cost price is 8,000 shillings and her profit is 2,000 shillings. Find the percentage profit (on the cost price).

A radio has a cost price of 5,000 shillings and a selling price of 6,500 shillings. Find the percentage profit.

$23\%$ , computed as $\frac{1500}{6500} \times 100$ (dividing by the selling price)

$130\%$ , computed as $\frac{6500}{5000} \times 100$

$15\%$ , computed as $\frac{1500}{10000} \times 100$

$30\%$ , computed as $\frac{1500}{5000} \times 100$ (dividing by the cost price)

Find the simple interest on a principal of 200,000 shillings at a rate of $12\%$ per year for 3 years.

A principal of 100,000 shillings earns simple interest at $10\%$ per year for 2 years. What is the total amount after 2 years?

20,000 sh, giving only the interest earned

200,000 sh, doubling the principal without computing interest

120,000 sh, adding the interest (20,000) to the principal (100,000)

10,000 sh, using only one year's worth of interest

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