Percentages, Profit, Loss, and Discount
Ages 16–18Difficulty adapts to you
Percentages, Profit, Loss, and Discount
A percentage compares an amount with 100. Profit is selling price minus cost price; loss is cost price minus selling price. Percentage profit or loss is measured against the cost price, while a discount is measured against the marked price.
Your goals
- ✓You can calculate percentage change, mark-up, profit, loss, discount, and sale prices.
- ✓You can use Percentages, Profit, Loss, and Discount, model correctly.
- ✓You can use the definitions, units, assumptions, and examples to check your answer.
Words to know
- Percentages, Profit, Loss, and Discount:
- Calculate percentage change, mark-up, profit, loss, discount, and sale prices.
- model:
- A rule or representation used to describe a situation and make a prediction.
Examples
- 1A phone bought for ₦80,000 and sold for ₦92,000 gives ₦12,000 profit, so profit percentage is 12,000 ÷ 80,000 × 100% = 15%.
- 2A 20% discount on ₦50,000 gives a discount of ₦10,000 and a sale price of ₦40,000.
Check these
- • Do not skip the meaning of a term or give a result without explaining what it means.
- • Keep every number, symbol, label, and unit in its correct place.
- • Show enough working to check how you reached your answer.
Helpful habits
- • Read the whole question before choosing what to do.
- • Show one clear step at a time and check each step.
- • If you are stuck, draw a model, try smaller numbers, or revisit the example.
Now try your own
Create your own percentages, profit, loss, and discount example, solve it, and explain how you checked it.
Spark
Creativity & Innovation“Maths is everywhere — in music, art, and nature!”