[Music] hello guys good day and welcome back to this channel in today's video we are going to discuss the application of percentages and we are going to focus more on profit and loss so let's assume you bought a phone from a wholesaler a manufacturer or better store a third party at 500 ghana cities and then later you saw the phone at 550 ghana cities to a friend now the amount that you used in buying the phone is called the cost price and the amount that you sold the phone is called the selling price so what do you think did you make a profit or a loss since the amount you sold the phone is higher than the amount in which you used in buying the phone we said that you made a profit so how do we find the profit the profit is basically the selling price minus the cost price so in this case we have the selling price to be 550 ghana cities and the cost price to be 500 ghana cities so the profit is basically 50 ghana cities so this is the profit that you made now let's consider this to be our first case now assuming that after buying the phone for 500 ghana cities you sold it at 400 ghana cities this time because the selling price is less than the cost price we say that you made a loss so for the second case we are going to look for the loss which is equal to the cost price minus the selling price we have the cost price to be 500 ghana cities and the selling price 400 kana cities the difference is 100 ghana cities so this is the loss you made so in the first case you had a profit which is 50 ghana cities and in the second case you had a loss of 100 ghana cities now some questions require that you calculate or find the profit percent or the loss percent the profit percent is giving us the profit over the cost price times 100 percent so for the first case we have the profit to be 50 garner cds so 50 divided by the cost price 500 times 100 percent 50 goes here once into 500 10 times 100 divided by 10 gives 10 so we have the profit percent to be 10 now to the lost percent the lost percent is also given by the loss over the cost price times 100 percent so we had the loss to be 100 divided by 500 times 100 percent 100 goes here once into 505 times 100 divided by 5 gives 20 so we have 20 percent so basically profits and loss are often given as percentages of the cost price so always the cost price is fixed and remains at the denominator now let's take a look at some other equations involving profits loss profit percent and then lost percent so under profit under profit first of all the profit is equal to the selling price minus the cost price the profit percent is equal to the profit over the cost price times 100 percent three we have the cost price equals 100 over 100 plus the profit percent times the selling price and then for the last one we have the selling price equals 100 plus the profit percent over 100 times the cost price now you don't need to keep all these formulas in mind especially that of the cost price and the selling price now all you need to know is that under profit the cost price is equivalent to 100 and the selling price is equivalent to 100 plus the profit percent so knowing this of head you can use simple ratio and proportion to determine the cost price and the selling price now let's consider under loss so under loss we have loss to be equal to the cost price minus the selling price we have the loss percentage to be equal to the loss over the cost price times 100 percent three we have the cost price to be equal to 100 divided by 100 minus this time the loss percent times the selling price and also for the last one we have the selling price equals 100 minus the lost percent over 100 times the cost price so also under loss the cost price is equivalent to 100 and the selling price is equivalent to 100 minus the loss percent so let's move ahead and try some examples so let's take our very first question a woman sells rice at five cups for two ghana cities and makes a profit of eight ghana pesos per cup what is her profit percent a woman sells rice at five cups for two ghana cities and makes a profit of eight ghana pesos per cup what is her profit per cent so now let's solve this question together so from the question we are told that the woman sells rice at five cups for two ghana cities so the selling price selling price of the five cups is two ghana cities and then she makes a profit of eight ghana pesos per cup so profit per cap is eight garner pesos which is equal to you want to divide eight by hundred so that is zero point zero eight okay so you have 0.08 ghana cities so this is the profit per cup now she sold five cups so we are going to multiply 5 by 0.08 to obtain the profit she made after selling the five cups so profit for five cups is equal to 0.08 times 5 which gives us 0.40 ghana cities now we are asked to find her profit per cent so profit percent profit percent is given by the profit over the cost price times 100 percent now we know their profit but we don't know the cost price so to find the cost price cost price is given by the selling price minus the profit so we have the selling price to be two ghana cities minus the profit which is zero points for ghana cities so we have the cost price to be 1.60 ghana cities so this is the cost price now using this value we can find the profit percentage or the profit percent so the profit percent becomes profit is 0.40 divided by cost price 1.60 times 100 percent 0.40 times 100 gives 40 and then divided by 1.60 which is equal to 25 percent so it means that the profit percent is equal to 25 so this is the profit percent that she made now let's move on to the next question so question two a woman sold an article for four ghana cities and made a profit of 25 percent find the cost price and the profit a woman sold an article for four garner cities and made a profit of 25 find the cost price and the profit so for this question we are told that the woman sold an article for four ghana cities so we have the selling prize to be four ghana cities and then she made a profit of 25 so that is the profit percent is 25. so we are going to find the cost price and the profit so first of all let's find the cost price so under profit we said that the cost price is equivalent to 100 and the selling price is equivalent to 100 plus the profit per cent now here we have the selling price and the profit percent so we can use simple ratio and proportion to determine the cost price now we have the selling price to be for ghana cities so four cities equals 100 plus the profit percent is 25 so plus 25. now we have the cost price to be equal to 100 now if less more divide so to find the cost price the cost price is basically going to be four times 100 divided by 125 so the cost price is equal to 3.2 3.20 which is equal to three series 20 ghana pesos so this is the cost price now let's find the profit so the profit is given by the selling price minus the cost price we have the selling price to be for ghana cities and the cost price to be 3.2 ghana cities so when you subtract this from that you have zero point eight zero which is zero point eight zero ghana cities or beta star 80 ghana pesos so this is the profit a man bought a piece of land at 4 800 ghana cities he later sold it at 4 000 ghana cities after three months find the lost percent find the lost percent so the man bought a piece of land at 4 800 ghana cities so the cost price is four thousand eight hundred ghana cities and then he sold it at four thousand ghana cities so that is the selling price four thousand ghana cities after three months now we are going to find the lost percent now the lost percent is given by the loss over the cost price times 100 so we need to find the loss the loss is given by the cost price minus the selling price we have the cost price to be 4 800 ghana cities and then the selling price to be 4 000 ghana cities so 4 800 minus 4 000 gives 800. so this is the loss the loss is 800 ghana cities now let's find the lost percent so the lost percent is given by the loss over the cost price times 100 percent so we have lost to be 800 divided by 4 800 times 100 percent 800 goes into itself once into hundred 4 times so hundred divided by six gives sixteen point six seven percent so the loss percent is 16.67 so that's it for today's video thanks for watching do want to like this video share this video to all your friends and subscribe to this channel bye bye