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Profit, Loss and GST Theory
![\begin{multicols}{2} \textbf{Example 1}\\ \textbf{i)} Amos bought a car for \(\$ 10500\) and later sold it for \(\$ 8400\). What was the percentage loss?\\ \textbf{ii)} Andy bought a painting for \(\$ 2400\) and later sold it for \(\$ 3000\), what was the percentage profit?\\ \textbf{Example 1 solution}\\ \textbf{i)} \(\begin{aligned}[t] \text { Loss } & =10500-8400 \\ & =2100 \end{aligned}\)\\[3pt] \(\begin{aligned} \% \text { Loss } & =\frac{2100}{10500} \times 100 \% \\ & =20 \% \end{aligned}\)\\[3pt] \textbf{ii)} \(\begin{aligned}[t] \text { Profit } & =3000-2400 \\ & =600 \\ \% \text { Profit } & =\frac{600}{2400} \times 100 \% \\ & =25 \% \end{aligned}\) \columnbreak \textbf{Example 2}\\ \textbf{i)} What is the price of a car valued at \(\$ 12000\) when a GST of \(10 \%\) is added?\\ \textbf{ii)} The price of a TV was sold for \(\$ 2343\) including GST \(10\%\). What was the price before GST was added?\\ \textbf{Example 2 solution}\\ \textbf{i)} \(\begin{aligned}[t] \text { Price }+ \text { GST } & =110 \% \times 12000 \\ & =\$ 13200 \end{aligned}\)\\ \textbf{ii)} \(\begin{aligned}[t] 110 \% \text { of } p & =2343 \\ 1 \% \text { of } p & =2343 \div 110 \\ & =213 \\ \therefore 100 \% \text { of } P & =\$ 2130 \end{aligned}\) \end{multicols}](/media/2q4nonq0/7938.png)
NSW Y8 Maths Fractions and Percentages Profit, Loss and GST
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