Profit and loss

 In this lesson we're going to learn profit and loss.

Profit = Selling price - cost price 
Loss = cost price - selling price

 For example "Larry bought a game console for $330 then 3 years later he sold for $375. Find his profit and also find the profit in percentages.

 Profit = $375 - $330 = $45.
Profit in percentage = profit/cost price x 100
                              = $45/330 x 100
                              = 14%

  Another example is "brad bought a new mobile phone for $500. 4 years later he sold it for $230. Find his loss and also in  percentage."

  Loss = $500 - $230
          = $270
Loss in percentage = Loss/cost price x 100
                             = $270/$500 x 100
                             = 54%