Grade 8 - Mathematics 2.4 Profit and Loss Word Problems

Example:
By what fraction the cost price should be multiplied to get selling price, if profit is 20%.

Solution: Formula : S.P = C.P*(100+g)/100
Where S.P = selling price, C.P = cost price and g = gain.
The fraction is (100+g)/100
(100+20)/100 = 120/100 = 6/5
Therefore, the fraction is 6/5.

Directions: Solve the following questions. Also write at least 5 examples of your own.