Profit And Loss Quiz 63 (10 MCQs)

Quiz Instructions

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1. A bakery spent $ 10,000 to run their business this month. They made $ 12,000. Did they make a profit or have a loss?

Correct Answer: A) Profit.

2. When SP and profit are given, then CP =

Correct Answer: A) SP-profit.

3. How do you define profit?

Correct Answer: A) When revenue exceeds cost.

4. Calculate S.P if C.P is rupees 3,400 and profit is rupees 400.

Correct Answer: A) 3800.

5. Liam bought a bicycle for $ 150 and sold it for $ 225. What is his percentage profit?

Correct Answer: C) 50%.

6. What does C.P stands for?

Correct Answer: B) Cost Price.

7. A shopkeeper expects a gain of 22.5% on his cost price. If in a week, his sale was of Rs. 392, what was his profit?

Correct Answer: B) Rs 72.

8. Pankaj sells two cycles for Rs 2376 each. On one he gains 10% and on the other he loss 10%. Find his gain or loss per cent.

Correct Answer: A) L% = 1%.

9. Simon sells hamburgers. He buys the buns and meat for $ 15. He sells the hamburgers for $ 3 each. He sells 12 hamburgers.What is Simon's profit?

Correct Answer: B) $ 21.

10. Ben bought a hoverboard for $ 45,000 and sold it for $ 34,000. Is it a profit or a loss?

Correct Answer: B) Loss.