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profit and loss

Total questions: 50

Worksheet time: 26mins

Name
Class
Date
1.

A handmade silk mirror work wall hanging from Gujarat cost Usha 7,400. She sold it after a few months for 350 less than. What price did she sell it for?

a)

S.P. = 7,050

b)

S.P.= 7,500

c)

S.P.= 6,500

2.

If Alice sells a toy for $20 to her friend Molly and she sells it for $30 what is the profits percentage

a)

%10

b)

%30

c)

%75

d)

%50

3.

What is profit?

a)

S.P-C.P

b)

C.P-S.P

4.
The term used to describe money gained after a sale.
a)
cost price
b)
selling price
c)
profit 
d)
loss
5.

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

6.

Find the loss of an item that cost $190 and sold for $175.

a)

$25

b)

$15

c)

-$15

d)

$30

7.
Vania wants to buy a new bag. The mark price (MP) of the bag is Rp 560.000,-. When she arrives at cashier, she gets 30% discount. How much does she pay for the shoes finally?
a)
Rp 392.000,-
b)
Rp 412.000,-
c)
Rp 480.000,-
d)
Rp 536.000,-
8.
If cost price (CP) lesser than selling price (SP) then it means we get ….
a)
profit
b)
loss
c)
discount
d)
mark price
9.
David bought 10 dozen eggs for Rp Rp 144.000,-. Since 30 of them broke, he gets a loss of Rp 9.000,- on selling them. What was the selling price of one egg?
a)
Rp 1.200,-
b)
Rp 1.300,-
c)
Rp 1400,-
d)
Rp 1.500,-
10.

State true or false:Profit=Selling price[S.P] - Cost price[C.P]

a)

true

b)

false

c)

both options

d)

can't tell

11.

State true or false: Loss=S.P - C.P

a)

true

b)

false

12.

What is the formula of profit?

a)

C.P - S.P

b)

S.P - C.P

c)

S.P + C.P

d)

C.P + Loss

13.

True or false

Final C.P.= S.P.+Overhead

a)

True

b)

False

14.

Cost price - Selling Price =

a)

Interest

b)

Profit

c)

Loss

d)

GCT

15.

If an item is sold for more more than what it was bought for, the seller make a/an:

a)

Loss

b)

Interest

c)

Profit

d)

Tax

16.

Another name for buying price is:

a)

Selling Price

b)

Cost Price

c)

Profit

17.

Tom helped his uncle move. He spent $30 for gas for his truck, and $20 for work gloves. His uncle paid him $200 for his help. What was Tom's profit?

a)

$50

b)

$150

c)

$250

d)

$30

18.

Evan earned $300 by doing yard work. His profit was $250. How much were his expenses?

a)

$550

b)

$300

c)

$250

d)

$50

19.

Jackie is making lemonade. She buys sugar, lemons, and cups for $17. She made $41 from selling the lemonade. What is her profit?

a)

$58

b)

$17

c)

$24

d)

$41

20.

Jamie builds and sells boxes for worm farms. The materials to build cost $13. She sells the boxes for $20. How much profit will Jamie make?

a)

$7

b)

$27

c)

$13

d)

$20

21.

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

a)

Cost Price

b)

Selling Price

c)

Net Sale

d)

Profit

22.

If Selling price > Cost price, it will be

a)

Profit

b)

Loss

23.

How we calculate Loss ?

a)

Loss = SP -CP

b)

Loss = CP -SP

24.

How we calculate profit?

a)

Profit = SP - CP

b)

Profit = CP- SP

25.

What is formulae to calculate loss percentage?

​

a)

Loss Percent = LossC.P.\frac{Loss}{C.P.}

b)

Loss Percent = lossC.P. ×100%\frac{loss}{C.P.\ }\times100\%

c)

Loss Percent = lossS.P.×100%\frac{loss}{S.P.}\times100\%

d)

Loss Percent = C.P.loss×100%\frac{C.P.}{loss}\times100\%

26.

What is condition of loss?

a)

M.P. > S.P.

b)

S.P. > C.P.

c)

C.P. > S.P.

d)

S.P. > M.P.

27.

A stationer purchased 5 dozen of pens at Rs. 25 per piece. What is CP of 5 dozen pens?

a)

Rs. 300

b)

Rs. 3000

c)

Rs. 350

d)

Rs. 3500

28.

Find the loss of an item that cost ₹190 and sold for ₹175.

a)

₹25

b)

₹15

c)

-₹15

d)

₹30

29.

How much Profit was made?

You sold 2 Mangoes for ₹100. They cost you ₹80 .

a)

₹ 50

b)

₹ 100

c)

₹ 20

d)

₹ 90

30.

A watch was bought for Rs. 190 and sold for Rs. 175. Find the profit or loss.

a)

Profit = Rs.25

b)

Profit = Rs. 15

c)

Loss = Rs.15

d)

Loss = Rs. 25

31.

Find the profit: CP = ₹120, SP = ₹180

a)

₹80

b)

₹20

c)

-₹20

d)

₹60

32.

Find the loss of an item that cost ₹190 and sold for ₹175.

a)

₹25

b)

₹15

c)

-₹15

d)

₹30

33.

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

34.
If C.P is more there will be a profit
a)
False
b)
True
35.
C P = 2000
S.P = 5000
FIND WHETHER ITS PROFIT OR LOSE
a)
3000 PROFIT
b)
7000 PROFIT
c)
3000 LOSE
d)
7000 LOSE
36.
Calculate S.P if C.P is rupees 3,400 and profit is rupees 400.
a)
3800
b)
3000
c)
2600
d)
4200
37.
Reena sold a carpet for rupees 10,000 , cost price of the carpet was 8000, find the profit or lose
a)
2000 profit
b)
8000 profit
c)
2000 lose
d)
8000LOSS
38.

what is the formula of loss?

a)

c.p-s.p

b)

s.p-c.p

c)

Don't know

39.

What is the formula of profit?

a)

c.p-s.p

b)

s.p-c.p

c)

both options

40.

state true or false: loss=s.p-c.p

a)

true

b)

false

41.

Find the loss:Sam bought a car for ₹634000 and sold for ₹623000

a)

₹12000

b)

₹11000

c)

₹34000

d)

No correct answer

42.

state true or false:profit=selling price[s.p]-cost price[c.p]

a)

true

b)

false

c)

both options

d)

can't tell

43.

Find the profit: CP = ₹120, SP = ₹180

a)

₹80

b)

₹20

c)

-₹20

d)

₹60

44.

A boy had a bike for  ₹ 32000 and was sold for ₹ 45000. What was the boy's profit? 

a)

₹13000 

b)

₹12500

c)

₹23500

d)

don't know

45.

A man sold a painting in Rs. 2509 and the transport charges are Rs. 253 the total and he buys it at Rs. 2767. Find how much profit/loss he get.

(a)  

46.

A merchant sold a fan for Rs. 1250 at a loss of Rs. 200. Find the cost price of fan.

(a)  

47.

A man sold a bag for Rs. 75, at a loss of Rs. 12. Find the cost price of bag.

(a)  

48.

Sushil bought six dozen bananas at Rs. 35 per dozen. He sold all the bananas for Rs. 300. Did he have a gain or loss or how much ?

a)

Loss, Rs. 50

b)

Profit, Rs. 80

c)

Loss, Rs. 90

d)

Profit, Rs. 90

49.

An engineer spent Rs. 24,500 to assemble a computer. He sold it at a profit of Rs. 8,250. At what price did he sell it ?

a)

31,950

b)

32,750

c)

32,850

d)

30,950

50.

Salim is a carpenter. He sold a chair for Rs. 900 making a profit of Rs. 250. Find the cost price of the chair.

a)

Rs 1150

b)

Rs 900

c)

Rs 650

d)

Rs 750

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