Loss & Profit

Loss & Profit

What is cost price and selling price?

• The cost price is the money that the producer pays.

• The selling price is the money that the consumer pays.

Multiple Choice

The money that the producer pays for their product.

• cost price

• selling price

Multiple Choice

The money that the consumer pays for buying a product.

• cost price

• selling price

What is the difference between a loss and a profit?

A profit

• If a producer sells the product higher than they buy, that's a profit.

• For example:

• Omar bought a watch for 100 SAR then he sold it for 150 SAR.

• Is it a profit or a loss?

• It's a profit.

• And how much is the profit that Omar made?

• 150 - 100 = 50 SAR

A loss

• If a producer sells the product lower than they buy, that's a loss.

• For example:

• Omar bought a watch for 100 SAR then he sold it for 80 SAR.

• Is it a profit or a loss?

• It's a loss.

• And how much is the loss that Omar made?

• 100 - 80 = 20 SAR

Multiple Choice

When the selling price is higher than the cost price, it's a _______

• profit

• loss

Multiple Choice

When the selling price is lower than the cost price, it's a _______

• profit

• loss

Multiple Choice

Talal bought a toy for 50 SAR and he sold it next day for 75 SAR.

Did he make a loss or a profit?

• profit

• loss

Multiple Choice

Faisal bought a toy for 80 SAR and he sold it next day for 50 SAR.

Did he make a loss or a profit?

• profit

• loss

Multiple Choice

A trader bought 100 pencils for 40 SAR and then he sold them for 60 SAR. How much profit did he make?

• 10 SAR

• 20 SAR

• 30 SAR

• 40 SAR

Sometimes the business makes a loss

• One of the reasons of making a loss is taking wrong decisions.

Open Ended

What other reasons that can make a loss?

Poll

In which range did you understand the lesson today?

• I understood everything

• I almost understood

• I understood a little bit

• I need some help

• I understood nothing