This quiz works best with JavaScript enabled. Home > Unit V Mathematical Reasoning And Aptitude > Profit And Loss – Quiz 62 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Profit And Loss Quiz 62 (10 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. What is the opposite of profit in business terms? A) Loss. B) Gain. C) Revenue. D) Income. Show Answer Correct Answer: A) Loss. 2. If the C.P = Rs. 7526, S.P = Rs. 6348. check profit or loss. A) 1078 loss. B) 1178 profit. C) 1178 loss. D) 1078 profit. Show Answer Correct Answer: C) 1178 loss. 3. Percentage of profit = A) $\frac{\Pr ofit}{SP}\times100\ %$. B) $\frac{SP-CP}{CP}\times100\ %$. C) $\frac{CP-SP}{CP}\times100\ %$. D) None of the above. Show Answer Correct Answer: B) $\frac{SP-CP}{CP}\times100\ %$. 4. If the selling price of an item is $ 200 and the cost price is $ 250, what is the loss? A) The loss is $ 100. B) The loss is $ 0. C) The loss is $ 50. D) The loss is $ 150. Show Answer Correct Answer: C) The loss is $ 50. 5. One of these statements about the profit and loss account is correct-which one? A) It helps measure the success of a business. B) It shows the assets and liabilities at a point in time. C) It measures the net cash flow of a business. D) It provides evidence about a firm's liquidity. Show Answer Correct Answer: A) It helps measure the success of a business. 6. A dealer buys a wrist watch for Rs. 225 and spends Rs.15 on its repairs. If he sells the same for Rs.300, find his profit percentage. A) 20 %. B) 25 %. C) 30 %. D) 55 %. Show Answer Correct Answer: B) 25 %. 7. A shopkeeper purchased two varieties of rice, 80 KG at Rs. 13.50 per KG and 120 KG at Rs. 16 per KG. The shopkeeper being greedy, mixed the two varieties of rice and sold the mixture at a gain of 16 %. Find the per KG selling price of the mixture. A) 16.90. B) 17.50. C) 16.20. D) 17.40. Show Answer Correct Answer: D) 17.40. 8. If Cost Price is Rs. 85 and Selling Price is 105, then what is the profit? A) Rs. 15. B) Rs 20. C) Rs 25. D) Rs 30. Show Answer Correct Answer: B) Rs 20. 9. If a cost of a bag is Rs. 750, selling price is Rs. 450 what is the loss? A) Rs. 100. B) 100%. C) Rs. 40. D) 40%. Show Answer Correct Answer: D) 40%. 10. Ava bought a pair of shoes for $ 60 and sold it for $ 90. What is her percentage profit? A) $33\ \frac{1}{3}%$. B) 40%. C) 50%. D) 20%. Show Answer Correct Answer: C) 50%. ← 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