Profit and Loss Quiz

A shop bought 25 T-shirts for ₱200 each and sold them all for ₱230 each.

• Profit

• Loss

Answer explanation

The shop bought 25 T-shirts for ₱200 each, totaling ₱5000. They sold them for ₱230 each, totaling ₱5750. The difference of ₱750 is a profit, confirming the correct answer is 'Profit'.

A businesswoman bought 40 pieces of tumblers at ₱150 each. She was only able to sell 35 pieces at ₱200 each, while the remaining 5 pieces were damaged and thrown away.

• Profit

• Loss

Answer explanation

The businesswoman spent ₱6,000 (40 tumblers x ₱150) and earned ₱7,000 (35 tumblers x ₱200). Her profit is ₱1,000 (₱7,000 - ₱6,000), indicating she made a profit despite the loss of 5 damaged tumblers.

A reseller purchased 15 cellphone cases at 3 for ₱180, and sold them individually at ₱80 each.

• Profit

• Loss

Answer explanation

The reseller bought 15 cases for ₱180, which is ₱12 per case. Selling them at ₱80 each results in total sales of ₱1,200. The profit is ₱1,200 - ₱180 = ₱1,020, indicating a profit.

A bookstore bought 60 pens for ₱18 each. Due to low demand, she offered a 'Buy 2, Take 1 Promo', selling each pen for ₱25. Only 54 pens were sold under this promo. The rest remained unsold.

• Profit

• Loss

Answer explanation

The bookstore spent ₱1,080 (60 pens x ₱18) and earned ₱1,350 (54 pens x ₱25) from sales. The profit is ₱270 (₱1,350 - ₱1,080), indicating a profit rather than a loss.

A student bought beauty products costing ₱5,000 and spent ₱500 on delivery. She sold the products for ₱6,000.

• Profit

• Loss

Answer explanation

The total cost of the products and delivery is ₱5,500. Selling them for ₱6,000 results in a profit of ₱500, as the selling price exceeds the total cost.

A sari-sari store owner bought 3 boxes of soft drinks. Each box contains 24 bottles priced at ₱25 per bottle. She sold each bottle at ₱30.

Answer explanation

The owner bought 3 boxes with 24 bottles each, totaling 72 bottles. Cost per bottle is ₱25, so total cost is ₱1,800. Selling at ₱30 per bottle, total sales are ₱2,160. Profit is ₱360 (₱2,160 - ₱1,800).

A food seller spent ₱1,000 on ingredients and ₱200 on packaging. She earned ₱1,350 from selling the finished products. → What is her profit or loss amount?

Answer explanation

Total costs are ₱1,000 + ₱200 = ₱1,200. The profit is calculated as earnings (₱1,350) minus costs (₱1,200), resulting in a profit of ₱150.

A student bought 15 ballpens for ₱20 each and sold them at ₱18 each because of a promo.

Answer explanation

The student spent ₱300 (15 x ₱20) to buy the ballpens but sold them for ₱270 (15 x ₱18), resulting in a loss of ₱30. Selling at a lower price than the purchase price leads to a loss.

A businesswoman bought 12 tote bags at ₱150 each and spent ₱300 for delivery. She then sold them all at ₱200 each.

Answer explanation

The total cost for the bags is 12 x ₱150 + ₱300 = ₱1,800. Selling price is 12 x ₱200 = ₱2,400. Profit is ₱2,400 - ₱1,800 = ₱600.

A seller purchased calculators in bulk: 10 units for ₱4,000. He sold 8 of them for ₱500 each, while the remaining 2 were damaged and not sold.

Answer explanation

The seller bought 10 calculators for ₱4,000, costing ₱400 each. He sold 8 for ₱500 each, earning ₱4,000. The 2 damaged units resulted in no loss since they were unsold, breaking even overall.