Money: profit, loss, budget and discount
When do you make a profit or a loss? Make a budget and work out how much you pay with a discount. Read one step, play with it, then tap “I understand this”.
Profit and loss
The cost price is what you paid. The selling price is what you sell for. Selling price − cost price = profit (if it is positive) or loss (if it is negative).
The tuck shop business
Change the cost price and the selling price.
The cost price is money you have already spent. Only once you have it back do you start making a profit. That is why profit is only the part of the selling price above the cost price.
Make a budget
A budget is a plan for your money: what comes in (income) and what goes out (expenses). If the expenses are bigger than the income, you come up short.
Your monthly budget
You get R400 pocket money. Change the expenses.
Discount
Discount is how much less you pay. 25% off means: for every R100 you pay R25 less. First work out the discount, then subtract it from the price.
The sale
Change the price and the percentage off.
25% off R400 is not R375 (R400 − 25). It is 25 out of every 100: R400 ÷ 100 × 25 = R100 off, so you pay R300.
Percent means “out of every hundred”. R400 ÷ 100 = R4 is 1%. Then 25% is just 25 × R4 = R100. That is why 25% of R400 is more than R25.
Play: the money game
Smart with money
Choose the right answer.
Correct: 0Check yourself
- Profit = selling price − cost price. Negative? Then it is a loss.
- Budget: income − expenses = what is left.
- Discount: price ÷ 100 × percent. New price = old price − discount.
Write these points in your maths book. Read them again the night before the test.
Quick questions
Tap an answer. If you get one wrong, read why and go back to that step. You get new questions every time.
You ticked all 4 steps! Now you are ready for the quiz.- Practice sheet for this classQuestions + memo · 2 A4 pagesPractice sheet
- Numbers16 pages · PDFPaperMemo
Ready for more? The Grade 6 profit and loss quiz gives you new questions every time.
- One step a day is enough. Ten calm minutes work better than an hour the night before the test.
- Look at a shop leaflet together: “The shoes are 20% off. How much do we save? What do we pay?”
- Ask your child to tell you the rule in their own words. If they can explain it, they understand it.
- The ticks (“I understand this”) are saved on this device only. We never ask for names or emails.
Follows CAPS for Grade 6 Maths. Always check your teacher’s notes and textbook too.