Match each retail transaction scenario to its corresponding profit or loss percentage.

Purchase a pair of shoes for $50$ dollars and sell them for $75$ dollars. $50\%$ profit
Purchase a bicycle for $200$ dollars and sell it for $150$ dollars. $25\%$ loss
Purchase a jacket for $100$ dollars and sell it for $120$ dollars. $20\%$ profit
Purchase a book for $10$ dollars and sell it for $9$ dollars. $10\%$ loss

Answer

Shoes map to

50\%

profit; Bicycle maps to

25\%

loss; Jacket maps to

20\%

profit; Book maps to

10\%

loss.

Each scenario is correctly evaluated by finding the absolute difference between cost and selling price, dividing that difference by the original cost price, and converting the result to a percentage.

Step-by-Step Solution

Determine if each transaction resulted in a profit or a loss.

Shoes and jacket are profits; bicycle and book are losses.

If selling price is greater than cost, it is a profit. If selling price is less than cost, it is a loss.

Calculate the dollar amount of the profit or loss for each item.

Shoes:

25

dollars profit, Bicycle:

50

dollars loss, Jacket:

20

dollars profit, Book:

1

dollar loss.

Profit or loss equals the absolute difference between selling price and cost price.

Divide the profit or loss amount by the original cost price, then multiply by

100

to find the percentage.

Shoes:

(25/50) \times 100 = 50\%

; Bicycle:

(50/200) \times 100 = 25\%

; Jacket:

(20/100) \times 100 = 20\%

; Book:

(1/10) \times 100 = 10\%

Percentages must always be calculated relative to the original cost price.

Key Concept

Calculating percentage profit or loss by comparing the change in value to the original cost price.

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