Profit, Loss and GST

Profit, Loss and GST in NSW Year 8 maths (NESA outcome MA4‑FRC‑C‑01) compares the cost price a seller pays with the selling price a buyer pays, and adds or removes the 10% Goods and Services Tax.

You will find profit and loss in dollars and as a percentage of the cost price (or of the selling price when asked), apply a mark-up, add GST by multiplying by 1.1, and take it out of a GST-inclusive price by dividing by 1.1 or by finding the GST as the total \(\div\, 11\). Canteen pies, a surf shop’s caps, sneakers in a sale and a cafe’s burger meal show how businesses set their prices. It is part of Year 8 Fractions and Percentages.