Year 8 Maths
Fractions and Percentages
Profit, Loss and GST
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Questions
Question 1
202062
Profit or loss is the difference between the selling price and the cost price.
(i) The school canteen buys a pie for \(\$3.20\). It sells the pie for \(\$4.50\). How much profit does the canteen make on each pie?(ii) Josh buys a phone for \(\$450\). Later he sells it for \(\$380\). How much money does he lose?
(iii) Ruby buys a bike for \(\$260\) and sells it for \(\$315\). Does she make a profit or a loss, and how much?
Part a:
\(\$\)
1.30
(2 d.p)
1 mark
Part b:
\(\$\)
70
1 mark
Part c:
A loss of \(\$55\)
A profit of \(\$55\)
Correct
A profit of \(\$575\)
A profit of \(\$45\)
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