Percentage profit and loss
I can calculate percentage profit and percentage loss.
Percentage profit and loss
I can calculate percentage profit and percentage loss.
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Lesson details
Key learning points
- When calculating percentage profit or loss, you are interested in the change.
- If the final amount is more than the original, there is profit.
- If the final amount is less than the original, there is loss.
- This change can be described as a percentage of the original amount.
- A negative percentage is interpreted as a loss.
Keywords
Percentage profit - is the increase when referencing something that is sold for more than the cost price given as a percentage of the original amount
Percentage loss - is the decrease when referencing something that is sold for less than the cost price given as a percentage of the original amount
Common misconception
When using multipliers, pupils can mistake a decimal for the percentage decrease. e.g. 0.52 is a 52% decrease, rather than recognising a 48% decrease
Reminding students that a decimal multiplier greater than 1 means an increase, and a decimal multiplier less than 1 means a decrease. The latter requires a subtraction from 1 or 100%
Licence
Lesson video
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Prior knowledge starter quiz
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