Profit & Loss Worksheet/Game

Profit & Loss Worksheet/Game Quiz/Worksheet
Welcome to Profit & Loss Worksheet/Game. In this game, you take on the role of an auditor determining the efficiency of a trade by calculating the percentage of profit or loss. Scroll down the page for a more detailed explanation.

 

 

How to play the Profit & Loss Worksheet/Game

1. Understand the Interface
   Once you hit Start, you will be presented with two primary figures:
   Cost Price (CP): The amount of money spent to acquire the item.
   Selling Price (SP): The amount of money the item was sold for.
   Profit Streak: This tracks how many successful audits you’ve completed in a row.
   

2. The Core Objective
   You must calculate the percentage change from the Cost Price to the Selling Price.
   The Rule
   Always remember that profit and loss are calculated based on the Original Cost Price, not the selling price.
   
   The Calculation Steps
   Find the Difference:
   Subtract the Cost Price from the Selling Price (SP - CP).
   Determine the Sign:
   If the result is positive, it’s a Profit.
   If the result is negative, it’s a Loss.
   
   Calculate Percentage:
   Divide that difference by the Cost Price and multiply by 100.
   \(\% = \frac{\text{Selling Price} - \text{Cost Price}}{\text{Cost Price}} \times 100\)
   

3. How to Enter Your Answer
   For Profits: Simply type the number (e.g., if you made a 25% profit, type 25).
   For Losses: You must include the minus sign (e.g., if you lost 10%, type -10).
   Click Submit or press Enter to verify your numbers.
   

4. Tips:
   · If the Cost is $80 and the Profit is $20, recognize that $20 is \(\frac{1}{4}\) of $80, which is an automatic 25%.
   · If the Selling Price is exactly double the Cost Price, your profit is 100%. If the Selling Price is half the Cost Price, your loss is -50%.
   · The “Bankruptcy” Penalty: If you get an answer wrong, the screen will shake, your streak resets to zero, and the game will pause to show you the correct percentage so you can learn for the next round.
   

Percentage Profit And Loss

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