Steemkids lesson|| profit and loss|| 10% to Steemkidss

in Steem Kids & Parents3 years ago

20211016_185214.jpg

Hello beautiful friends, I welcome you all to this week's lesson
Our topic for this week is profit and loss.

What do we mean by profit and loss?

We have a profit or gain when we sell an article at a price that is higher than what we originally bought it.

We have a loss when we sell the article at a price lower than what we bought.

For example
if I buy a toy at the price of $100 and I sell it t the price of $120 dollars. It means my gain or profit will be $20 because I bought it at $100 and I sold it with extra $20 dollar.

But if I buy the toy at the price of $120 and sell it at $100, it means I'm losing because I sold it lower than what I bought. This is loss

So from the example I just gave you noticed there are two prices,
Cost price and selling price
The cost price is the amount an article is bought (the amount the toy was bought)

While selling price is the amount I sold it.

We can calculate profit and loss by comparing these two prices.
Let's see how that is done:

We calculate profit by subtracting the cost price from the selling price.
That is :- Profit = Selling price - Cost price [P = S.p - C.p]

We calculate loss by by subtracting selling price from the cost price.
Cost price - selling price [Loss = C.p - Sp]

For example
Let's say you have a pen. And you bought it at the price of $50. Then your friend decided to buy it from you and you sell it to him at the price of $60.
Your cost price is 50 dollars and your selling price is 60 dollars
To calculate the profit we will subtract the cost price from the selling price

P = S.P - C.p
P = 60 - 50
Profit (P) = 10

(b). But assuming he bought it at $60 and you sell it at $50 it means you have a loss because you are selling it at a price lower than the cost price.

Loss = C.p - S.p
L = 60 - 50
Loss = 10.

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Lets see another example for this:

A man bought a car at the price of $300 and sold it for $360. What is is profit?

Solution

Profit = S.p - C.p
P = 360 - 300
Profit = 60.

🌟🌟🌟🌟🌟🌟🌟🌟🌟🌟🌟🌟🌟🌟

Assuming the man bought it at the price of $360 and he sells it at the price of $300. What is his loss?

Loss = C.p - S.p
L = 360 - 300
Loss = 60

He loses $60 dollar from the item he sold.

I hope the explanations are clear my dear friends. Let's now look at the assignments.

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Assignment

1):. Daniel bought a bicycle at the price of $450. He resells it to David at the price of $500. What is his profit or loss?

2):. A candy was bought at the price of $20 and sold at the price of $30. What is the amount of profit gotten from the candy?

3):. A retailer purchased a cellphone at the price of 450 steem and sells it at the price of 400 steem. What is his profit or loss?

4):. Miss Sarah purchased a tuber if Yam at the price of $80. She later resells it at the price of $100 . What is her gain or loss?

2xVmzkbNCvpwrGAp476Ci7TQrTSdeJo5CKB7AH6MwGdMXpDmiqcwu93d8RSuhVkabWe4eLHMQYVkSmzXrPrVHhexVKG9ouU9KqeDrZcR6MVUrSN4DuFfXmrAbLKbmsBSb634LZwxzWJV8noQQ7EcML2mt68yDBzaqqaNy7JYPeC6pvQrVi6dDVMsHhP8aXmujHQmFBpA.jpeg

Let's note that this lesson is strictly for the verified kids in steemkids community.
The assignment should be submitted before the expiration of this post.

Entries should be a comment under this post.


I steem reward will be given to each participants in this lesson.

2xVmzkbNCvpwrGAp476Ci7TQrTSdeJo5CKB7AH6MwGdMXpDmiqcwu93d8RSuhVkabWe4eLHMQYVkSmzXrPrVHhexVKG9ouU9KqeDrZcR6MVUrSN4DuFfXmrAbLKbmsBSb634LZwxzWJV8noQQ7EcML2mt68yDBzaqqaNy7JYPeC6pvQrVi6dDVMsHhP8aXmujHQmFBpA.jpeg

Okay friends, bye for now. I'm awaiting your beautiful entries.

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2xVmzkbNCvpwrGAp476Ci7TQrTSdeJo5CKB7AH6MwGdMXpDmiqcwu93d8RSuhVkabWe4eLHMQYVkSmzXrPrVHhexVKG9ouU9KqeDrZcR6MVUrSN4DuFfXmrAbLKbmsBSb634LZwxzWJV8noQQ7EcML2mt68yDBzaqqaNy7JYPeC6pvQrVi6dDVMsHhP8aXmujHQmFBpA.jpeg

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 3 years ago 

Assignment
1):. Daniel bought a bicycle at the price of $450. He resells it to David at the price of $500. What is his profit or loss?

IMG_20211019_221518_781.jpg
2):. A candy was bought at the price of $20 and sold at the price of $30. What is the amount of profit gotten from the candy?
IMG_20211019_225435_310.jpg
3):. A retailer purchased a cellphone at the price of 450 steem and sells it at the price of 400 steem. What is his profit or loss?
IMG_20211019_225443_699.jpg
4):. Miss Sarah purchased a tuber if Yam at the price of $80. She later resells it at the price of $100 . What is her gain or loss?
IMG_20211019_225449_23.jpg
Here I am with my working
IMG_20211019_225624_210.jpg

CONCLUSION
Thank you @madilyn02

Nice one dear! Thanks for submitting your assignment. You have done well and will recieve your grade soon
You can mention friends to also participate.

entry #4: valid ✓

 3 years ago 

Thank you very much

Hi @ekemini5, here is the grading for your participation:

Rate criteriarating(10%)
Q12
Q22
Q32
Q42
Presentation0.8
Score8.8/10

I suggest you stay in a clearer place next time when taking the pictures..

Also note that this assignment is only for verified kids. Please get verified so you can share part of the reward given for this assignment.


Thanks you for participating in Steemkids assignment.
I look forward to your participation in the next assignment🙂

@ngoenyi

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 3 years ago 

The lesson on profit and loss is well explained with simple illustration. Thanks again and again for your style of imparting knowledge to the kids.

 3 years ago (edited)

Here is my entry

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Thanks @madilyn02 for the interesting lesson I really learnt alot and I Know my fellow kids do enjoy it. 👍👋🙏

Nice one dear! Thanks for submitting this early.
You can mention friends to also participate.

entry #1: valid ✓

 3 years ago 

Thanks @madilyn02 the lesson is nice 👍

 3 years ago 

Yeah I do

Hi @favour11, here is the grading for your participation:

Rate criteriarating(10%)
Q12
Q22
Q32
Q42
Presentation1
Score9/10

Please try solving on a rough sheet of paper next time to avoid much cancellations in your work.


Thanks you for participating in Steemkids assignment.
I look forward to your participation in the next assignment🙂

@ngoenyi

 3 years ago (edited)

Here is my assignment answers 😀

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Thanks ☺️ thanks 👍 🙏 @madilyn02 for this wonderful lesson.

Nice one dear! Thanks for submitting this early.
You can mention friends to also participate.

entry #2: valid ✓

Hi @princeifeko, here is the grading for your participation:

Rate criteriarating(10%)
Q12
Q22
Q32
Q42
Presentation1
Score9/10

Please try solving on a rough sheet of paper next time to avoid much cancellations in your work.


Thanks you for participating in Steemkids assignment.
I look forward to your participation in the next assignment🙂

@ngoenyi

Thanks @madilyn02 I appreciate it

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 3 years ago 

I'm ready for the assignment

 3 years ago 

Interesting lesson, i will participate in the assignment.

 3 years ago 
 3 years ago 

Buenas tardes mi nombre es Jesús Rojas, a continuación presenta la asignación de la lección #12 del área de matemáticas

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Quiero invitar a mi amiga @valentina2021 para que realice esta actividad.

Muy buen trabajo querido! Gracias por participar, pronto serás calificado y gracias por invitar a tu amigo a participar

Hola @ jesuskids, aquí está la calificación para su participación:

Criterios de tarifacalificación (10%)
P12
P22
P32
P42
Presentación1
Puntuación9/10
  • por favor, intente usar una pieza de escritura más clara la próxima vez que escriba, le ayudará a ver sus escritos con más claridad.**

Gracias por participar en la asignación de Steemkids.

  • Espero con interés su participación en la próxima tarea * 🙂

@ ngoenyi