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Home >> Profit and Loss >> Profit >> Examples

Define Profit : Profit = SP - CP : Solved Examples

Profit Loss Profit Percentage Loss Percentage Discount

Four years back Mr. Jack purchase a house for $5200 and now sold it for $6500. Find whether they earn profit and suffer loss. Also, find the value of profit or loss.
As per the given question:

Cost Price or CP = $ 5200 ... (statement 1)
Selling Price or SP = $ 6500 ... (statement 2)

Now, we know that if SP > CP, then profit is made.

From statement 1 and 2, we get:

Since, $6500 > $5200

So, it clear that Shopkeeper earns a profit.

Now to find the value of Profit, use the following formula:

Profit = SP - CP

Put values from statement 1 and 2 & we get:

Profit = $6500 - $5200

Solve Subtraction expression on L.H.S. of equation and we get:

Profit = $1300

Hence, Mr. Jack earned a profit of $1300

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