PROBLEMS INVOLVING MONEY, PROFIT, AND LOSS
Practice Worksheet: "Mang Larry's
Business: Calculating Profit and Loss"
Aligned with the MATATAG
Curriculum for Grade 8 Mathematics
Understanding Profit and Loss is simply about knowing whether a business deal made money or lost money. Imagine you buy a toy for ₱100, that is your Cost Price. If you then sell that toy to a friend for ₱150, that selling price is called your Selling Price. Since you sold it for more than you paid, you have made a Profit of ₱50. That's the extra money you get to keep. However, if you had to sell the toy for only ₱80 because it was scratched, then you would have a Loss of ₱20, because you got back less money than you spent. We also calculate percentages to see how big the win or loss is compared to what we originally paid. In short, Profit and Loss is the math that tells you the final score of any business transaction, showing you if you ended up ahead or behind.
Introduction:
This worksheet is designed to help you understand the core concepts of Profit
and Loss through real-life situations in the Philippines. Use the formulas
below to solve the problems.
Key Formulas:
- Profit
= Selling Price - Cost Price
- Loss
= Cost Price - Selling Price
- Profit
Percentage = (Profit / Cost Price) × 100%
- Loss
Percentage = (Loss / Cost Price) × 100%
Activity: Helping Mang Larry
Mang Larry has a small sari-sari store (neighborhood convenience store) in your barangay. Can you help him calculate his profit or loss on various sales?
| Product | Cost Price | Selling Price | Profit or Loss? | Amount | Percentage |
|---|---|---|---|---|---|
| 1. Rice, 1kg | ₱50.00 | ₱60.00 | ____________ | _______ | __________ |
| 2. Eggs, one tray | ₱150.00 | ₱140.00 | ____________ | _______ | __________ |
| 3. Soft drinks, 1.5L | ₱85.00 | ₱100.00 | ____________ | _______ | __________ |
| 4. Sardines, one can | ₱25.00 | ₱22.00 | ____________ | _______ | __________ |
| 5. Laundry soap, one bar | ₱18.00 | ₱25.00 | ____________ |
Challenge Problem: The Banana Cue Venture
Mang Larry decided to also sell banana cue (caramelized bananas on a stick). The cost to make one batch is ₱25.00 (for bananas, sugar, and charcoal). He sells each stick for ₱15.00. From one batch, he can make 8 sticks.
a) What is the total Selling Price
for one batch of banana cue?
Answer: _________________________
b) How much is his profit per
batch?
Answer:
c) What is his profit percentage?
Answer:
Additional Problems: "Expanding the Business"
Mang Larry's business is growing!
Help him with these new financial challenges.
ü Cost: ₱25 per notebook, ₱15 per pen, ₱120 per backpack
ü Selling Price: ₱35 per notebook, ₱20 per pen, ₱180 per
backpack
a) What
is the total Cost Price for one bundle?
Answer: Total Cost = (5 × ₱25) + (2 × ₱15) + ₱120 = ______________________
Answer: Total Selling Price = (5 × ₱35) + (2 × ₱20) + ₱180 = ₱175 + ₱40 + ₱180 = ______________
Answer:
Profit = ₱395 - ₱275 = ____________
a) What
is his actual profit from selling ₱1,000 worth of load?
b) What
is his profit percentage?
Answer: Profit Percentage = (₱50/₱950) × 100% = _______
So, Selling Price = 48 × ₱45 = ₱2,160
c) What
is the profit/loss percentage?
Answer:
Profit Percentage = (₱360/₱1,800) × 100%
=_______%
b)
However, 10 pieces remained unsold, and he had to sell them at ₱40 each. What
was his actual total profit?
- Cost
per shake: ₱12 for fruits, ₱8 for ice/sugar, ₱5 for the cup
- Selling
price: ₱35 per shake
- Daily
operational cost (rent, electricity): ₱150
Calculate the missing values in the table below. Use the following formulas:
- Profit = Selling Price - Cost Price
- Loss = Cost Price - Selling Price
- Profit % = (Profit / Cost Price) × 100%
- Loss % = (Loss / Cost Price) × 100%
Related links Visitors (please click the line below): Name: _______________________________ Country: _____________________ |
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