This quiz works best with JavaScript enabled. Home > Unit V Mathematical Reasoning And Aptitude > Profit And Loss – Quiz 46 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Profit And Loss Quiz 46 (10 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Liam bought a video game for $ 40 and later sold it for $ 60. How much money did he gain from the sale? A) $ 50. B) $ 10. C) $ 20. D) $ 30. Show Answer Correct Answer: C) $ 20. 2. Lauren bought a pants for $ 120.50 and sold it to her sister for $ 105.50. Lauren received a A) Profit. B) Loss. Show Answer Correct Answer: B) Loss. 3. The formula for profit is A) Profit=S.P+ C.P. B) Profit=C.P-S.P. C) Profit=S.P-C.P. D) Profit=C.P+ S.P. Show Answer Correct Answer: C) Profit=S.P-C.P. 4. Which of the following describes a loan that starts charging interest from the time the loan is made? A) Subsidized Loan. B) Unsubsidized Loan. C) Pell Grant. D) Sallie Mae Loan. Show Answer Correct Answer: B) Unsubsidized Loan. 5. Which term describes the selling price minus the cost price? A) Profit. B) Loss. C) Revenue. D) Discount. Show Answer Correct Answer: A) Profit. 6. A man sells a car for Rs. 2,50,000 at a loss of 20%. At what price should he sell it to gain 20% profit? A) Rs. 3,00,000. B) Rs. 3,12,500. C) Rs. 3,50,000. D) Rs. 3,75,000. Show Answer Correct Answer: D) Rs. 3,75,000. 7. How often is a profit and loss statement issued? A) Once in a fiscal period. B) Twice in a fiscal period. C) Twelve times in a fiscal period. D) Anytime in a fiscal period. Show Answer Correct Answer: A) Once in a fiscal period. 8. The value of goods a business has at the beginning of a trading period is ..... A) Opening stock. B) Closing stock. C) Gross profit. D) Net profit. Show Answer Correct Answer: A) Opening stock. 9. Suppose a shopkeeper has bought 1 kg of apples for 100 rs. And sold it for Rs. 120 per kg. How much is the profit gained by him and also calculate Profit percentage? A) 15,20%. B) 30, 20%. C) 20, 20%. D) 40, 40%. Show Answer Correct Answer: C) 20, 20%. 10. Find the C P when:SP = 924, gain = 10% A) 458. B) 890. C) 840. D) 235. Show Answer Correct Answer: C) 840. ← PreviousNext →Related QuizzesProfit And Loss Quiz 1Profit And Loss Quiz 2Profit And Loss Quiz 3Profit 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 10 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books