Profit, Loss and Discount

What you will be able to do

• Use cost price, selling price and marked price correctly, and know which is the base for each percentage.
• Convert between a profit or loss percentage and a single multiplier on cost price.
• Handle a mark-up followed by a discount in one calculation.
• Explain and compute the standard 'same selling price, equal gain and loss percent' result.

What is inside this lesson

1. 1Four prices, and what each means
2. 2Core relationships
3. 3Mark up, then discount
4. 4Worked example: mark-up and discount
5. 5Worked example: recover the cost price
6. 6Worked example: same price, equal percent gain and loss
7. 7Common mistakes
8. 8Quick revision
9. 9Practice