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Profit, Loss and Commission

Total questions: 20

Worksheet time: 27mins

Name
Class
Date
1.
If an object is bought for $65 and sold for 20% profit how much was the object sold for?
a)
78
b)
68
c)
85
d)
52
2.
Calculate the percentage loss if an item is bought for $400 and sold for $364
a)
9.9%
b)
11%
c)
9%
d)
91%
3.
Calculate the percentage loss if an item is bought for $70 and sold for $49
a)
42.9%
b)
70%
c)
30%
d)
35%
4.
If James sells his car for $1,000 and bought it for $2500. What is the percentage loss made on the car.
a)
15%
b)
10%
c)
60%
d)
150%
5.
What is the percentage profit if Tony buys a watch for $50 and sells it for $60?
a)
20%
b)
25%
c)
16.6%
d)
16.7%
6.

What is the profit percent if a shopkeeper buys a football for $12 and sells it for $15?

a)

80%

b)

25%

c)

20%

d)

50%

7.

The profit percent is found as a percent of

a)

Profit

b)

Selling Price

c)

Cost Price

d)

Sale Price

8.

How much Profit was made?

You sold 2 candies for Rs. 30. They cost you Rs. 3 each to buy.

a)

Rs. 27

b)

Rs. 54

c)

Rs. 24

d)

Rs. 57

9.

You sell T-shirts. If you bought them for Rs. 100 each and sell them for Rs. 120 each, how much PROFIT can you make if you sell 10 T-shirts?

a)

Rs. 200

b)

Rs. 20

c)

Rs. 100

d)

None of the above

10.

How much Profit was made?

You sold 2 Mangoes for Rs. 50 each. They cost you Rs. 40 each.

a)

Rs. 50

b)

Rs. 100

c)

Rs. 20

d)

Rs. 90

11.

The price at which an article is sold is called ----------.

a)

Cost price

b)

Profit

c)

Loss

d)

Selling price

12.

The price at which an article is bought or purchased is called ---------- .

a)

Profit

b)

Losss

c)

Cost price

d)

Selling price

13.

If the CP is less than the SP, then there will be a loss.

a)

True

b)

False

14.
The term used to describe money gained after a sale.
a)
cost price
b)
selling price
c)
profit 
d)
loss
15.

what is the formula of loss?

a)

c.p-s.p

b)

s.p-c.p

c)

Don't know

16.

What is the formula of profit?

a)

c.p-s.p

b)

s.p-c.p

c)

both options

17.

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

a)

true

b)

false

18.

A trader bought 100 oranges at 5 for N40.00 and 20 for N120.00. Find the profit or loss percent

a)

20% profit

b)

20% loss

c)

25% profit

d)

25% loss

19.

Bala sold an article for N6,900 and made a profit of 15%. Calculate his percentage profit if he had sold it for N6,600. 

(a)  

20.

A trader bought an engine for $15,000.00 outside Nigeria. If the exchange rate is $0.075 to N1.00, how much did the engine cost in Naira?

a)

N200,000.00

b)

N250,000.00

c)

N150,000.00

d)

N100,000.00