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Profit and Loss

Total questions: 12

Worksheet time: 6mins

Name
Class
Date
1.
The term used to describe money gained after a sale.
a)
cost price
b)
selling price
c)
profit 
d)
loss
2.

If the cost price of an item is $10 and the selling price is $12, was a profit or a loss made?

a)

profit

b)

loss

c)

neither

3.

Loss =

a)

Selling Price - Cost Price

b)

Sell Price + Cost Price

c)

Cost Price - Sell Price

d)

none of the above

4.

Dicount =

a)

selling price - marked price

b)

marked price - selling price

c)

marked price - cost price

d)

cost price - marked price

5.

The Cost Price of an item is $20.00, the Selling Price of the item is now $25.00. What did the owner get?

a)

Profit

b)

Loss

6.

Nathalia purchased a book for $18.50 and sold it for $20.00. Nathalia's profit was (a)   .

7.

Lauren bought a pants for $120.50 and sold it to her sister for $105.50. Lauren received a

a)

Profit

b)

Loss

8.

Selling Price - Cost Price = Profit

a)

True

b)

False

9.

Selling Price - Cost Price = Loss

a)

True

b)

False

10.

You purchased a Bluetooth headphone for $200.00 and sold it for $220.50. Your profit was (a)  

11.

What is the amount at which the product is to be sold?

a)

Cost Price

b)

Selling Price

c)

Net Sale

d)

Profit

12.

Find the profit: Cost Price = $120, Selling Price = $180.

a)

$80

b)

$20

c)

-$20

d)

$60