This quiz works best with JavaScript enabled. Home > Unit V Mathematical Reasoning And Aptitude > Profit And Loss – Quiz 3 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Profit And Loss Quiz 3 (10 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Net profit is the surplus, if any, from sales revenues after all expenses are accounted for. A) False. B) True. Show Answer Correct Answer: B) True. 2. If a shopkeeper brings a cloth for Rs.100 and sells it for Rs.120, then he has made a profit of? A) Rs. 15. B) Rs. 22. C) Rs. 20. D) None of above. Show Answer Correct Answer: C) Rs. 20. 3. Tony makes doghouses. His expenses for each doghouse are $ 40 for wood, $ 15 for paint, and $ 10 for nails. If Tony sells each doghouse for $ 125, what is his profit if he sells 7 doghouses? A) $ 420. B) $ 60. C) $ 65. D) $ 402. Show Answer Correct Answer: A) $ 420. 4. Rohit purchased an old car for Rs 73500. He spent Rs 10300 on repairs and paid Rs 2600 for its insurance. Then he sold it to a mechanic for Rs 84240.What was his percentage gain or loss? A) L% = 2%. B) L% = 2.5 %. C) G% = 3 %. D) G% = 4.5 %. Show Answer Correct Answer: B) L% = 2.5 %. 5. 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. Show Answer Correct Answer: A) 78. 6. What must a business do in order to make a profit? A) It has to spend more money that it is able to save. B) It has to supply more products than people demand. C) It has to sell a product for more than the cost to make it. D) It has to provide a service to the community. Show Answer Correct Answer: C) It has to sell a product for more than the cost to make it. 7. CP = 600, Loss = 50, SP =? A) 550. B) 650. C) 250. D) 350. Show Answer Correct Answer: A) 550. 8. Neither make a profit nor lose money A) Loss. B) Make profit. C) Break even. D) None of above. Show Answer Correct Answer: C) Break even. 9. Ben bought a skateboard for RM450 and sold it for RM340. Is it a profit or a loss? A) Profit. B) Loss. C) I don't know. D) None of above. Show Answer Correct Answer: B) Loss. 10. What is selling price? A) Price at which we buy the things. B) Price at which we sell the things. Show Answer Correct Answer: B) Price at which we sell the things. ← PreviousNext →Related QuizzesProfit And Loss Quiz 1Profit And Loss Quiz 2Profit And Loss Quiz 4Profit And Loss Quiz 5Profit And Loss Quiz 6Profit And Loss Quiz 7Profit And Loss Quiz 8Profit And Loss Quiz 9Profit And Loss Quiz 10Profit And Loss Quiz 11 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books