Profit & Loss

What is Profit

• Money gained from selling goods or services at a higher price than the cost
• Money lost from selling goods or services at a lower price than the cost
• The total amount of money earned from selling goods or services
• The total amount of money spent on buying goods or services

What is Loss?

• Money gained from selling goods or services at a higher price than the cost
• Money lost from selling goods or services at a lower price than the cost
• The total amount of money earned from selling goods or services
• The total amount of money spent on buying goods or services

If the cost price of an item is $10 and it is sold for $15, what is the profit?

• $5
• $10
• $15
• $25

If the cost price of an item is $20 and it is sold for $15, what is the loss?

• $5
• $10
• $15
• $25

If an item is sold at the same price it was bought, what is the profit or loss?

• Profit
• Loss
• Neither profit nor loss
• Cannot be determined

If the cost price of an item is $50 and it is sold for $60, what is the profit percentage?

• 10%
• 20%
• 30%
• 40%

If the cost price of an item is $80 and it is sold for $70, what is the loss percentage?

• 10%
• 20%
• 30%
• 40%

If the cost price of an item is $25 and the profit percentage is 20%, what is the selling price?

• 20%
• 25%
• 30%
• 35%

If the cost price of an item is $40 and the loss percentage is 25%, what is the selling price?

• $30
• $40
• $45
• $50

If an item is sold at a profit of 25% and the selling price is $50, what is the cost price?

• $40
• $45
• $50
• $60