Calculating Profit and Loss -2 worksheet - Free Printable

To solve the problems in the worksheet, we need to calculate whether there is a profit or a loss for each transaction and determine the amount of profit or loss. The general formula to use is:

\[
\text{Profit or Loss} = \text{Selling Price} - \text{Cost Price}
\]

If the result is positive, it is a profit. If the result is negative, it is a loss.

Let's solve each problem step by step.

---

Problem 1:

- Cost Price (CP): \$20.00
- Selling Price (SP): \$35.00

#### a. Is it a profit or a loss?
\[
\text{Profit or Loss} = \text{SP} - \text{CP} = 35.00 - 20.00 = 15.00
\]
Since the result is positive, it is a profit.

#### b. How much?
The profit is \$15.00.

---

Problem 2:

- Cost Price (CP): \$8.00
- Selling Price (SP): \$3.50

#### a. Is it a profit or a loss?
\[
\text{Profit or Loss} = \text{SP} - \text{CP} = 3.50 - 8.00 = -4.50
\]
Since the result is negative, it is a loss.

#### b. How much?
The loss is \$4.50.

---

Problem 3:

- Cost Price (CP): \$2.15
- Selling Price (SP): 65 cents = \$0.65

#### a. Is it a profit or a loss?
\[
\text{Profit or Loss} = \text{SP} - \text{CP} = 0.65 - 2.15 = -1.50
\]
Since the result is negative, it is a loss.

#### b. How much?
The loss is \$1.50.

---

Problem 4:

- Cost Price (CP): \$18.86
- Selling Price (SP): \$30.57

#### a. Is it a profit or a loss?
\[
\text{Profit or Loss} = \text{SP} - \text{CP} = 30.57 - 18.86 = 11.71
\]
Since the result is positive, it is a profit.

#### b. How much?
The profit is \$11.71.

---

Problem 5:

- Cost Price (CP): \$35.99
- Selling Price (SP): \$17.99

#### a. Is it a profit or a loss?
\[
\text{Profit or Loss} = \text{SP} - \text{CP} = 17.99 - 35.99 = -18.00
\]
Since the result is negative, it is a loss.

#### b. How much?
The loss is \$18.00.

---

Final Answers:

1.
a. Profit
b. \$15.00

2.
a. Loss
b. \$4.50

3.
a. Loss
b. \$1.50

4.
a. Profit
b. \$11.71

5.
a. Loss
b. \$18.00

---

Boxed Final Answer:

\[
\boxed{
\begin{array}{ll}
1. & \text{a. Profit, b. \$15.00} \\
2. & \text{a. Loss, b. \$4.50} \\
3. & \text{a. Loss, b. \$1.50} \\
4. & \text{a. Profit, b. \$11.71} \\
5. & \text{a. Loss, b. \$18.00} \\
\end{array}
}
\]