L203 | Session 3 I - Profit Vs Loss

If you earn more than you spend, it will be called

• Loss

• Profit

• None of the above

If you spend more than your income, it is referred as

• Profit

• Loss

If you bought a pencil for $1 and then gave it to your friend for $3, you made a

• Profit

• Loss

If the shopkeeper got vegetables for $20/kg but sold you at $10/kg, then the loss for the shopkeeper is

• $5

• $10

• $15

• $20

Which of the following do we prefer more?

• Profit

• Loss

Find the Profit/loss: Sam bought a car for $30,000 and sold for $20,000

• Loss of $12,000

• Loss of $10,000

• Profit of $20,000

• Profit of $10,000

How much Profit was made?

You sold 2 Mangoes for $10 each. They cost you $8 each.

• $5

• $10

• $4

• $8