Profit and Loss
Authored by Smriti Yalgi
Mathematics
7th Grade
CCSS covered
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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the formula to calculate profit?
Profit = Revenue / Cost
Profit = Revenue + Cost
Profit = Revenue x Cost
Profit = Revenue - Cost
Tags
CCSS.7.NS.A.3
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If the cost price of an item is $50 and the selling price is $70, what is the profit percentage?
50%
40%
30%
25%
Tags
CCSS.6.RP.A.3C
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How do you find the cost price if the selling price and profit percentage are given?
Cost Price = Selling Price + (Profit Percentage / 100)
Cost Price = Selling Price - (Profit Percentage / 100)
Cost Price = Selling Price * (1 + (Profit Percentage / 100))
Cost Price = Selling Price / (1 + (Profit Percentage / 100))
Tags
CCSS.7.RP.A.3
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If the selling price of an item is $80 and the profit percentage is 25%, what is the cost price?
$64
$85
$75
$70
Tags
CCSS.6.RP.A.3C
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the formula to calculate loss?
Loss = Profit - Cost Price
Loss = Selling Price - Cost Price
Loss = Cost Price - Selling Price
Loss = Cost Price + Selling Price
Tags
CCSS.6.RP.A.3B
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If the cost price of an item is $120 and the selling price is $100, what is the loss percentage?
16.67%
20%
10%
25%
Tags
CCSS.6.RP.A.3C
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How do you find the selling price if the cost price and profit percentage are given?
Selling Price = Cost Price / (1 - Profit Percentage)
Selling Price = Cost Price - Profit Percentage
Selling Price = Cost Price - (Cost Price * Profit Percentage)
Selling Price = Cost Price + (Cost Price * Profit Percentage)
Tags
CCSS.6.RP.A.3C
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