Profit And Loss Quiz 66 (10 MCQs)

Quiz Instructions

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1. A painting was bought for $ 2,500 and sold for $ 4,000. As a percentage of the cost price, what would be the profit made? *

Correct Answer: D) 60%.

2. Find the percentage profit: CP = $ 50, SP = $ 60

Correct Answer: C) 20%.

3. Olivia sold a necklace for $ 200, and the cost price was $ 240. What is her percentage loss?

Correct Answer: B) $16\frac{2}{3}$.

4. What is the percentage profit if Tony buys a watch for $ 50 and sells it for $ 60?

Correct Answer: A) 20%.

5. Ryan buys a jacket for $ 75 and sells it for $ 100. His gain percent is ..... %

Correct Answer: C) 33.33.

6. Find the gain or loss percent, when:(i) C.P. = Rs 2300, Overhead expenses = Rs 300 and gain = Rs 260.

Correct Answer: B) 10%.

7. Joy bought six dozen bananas at Php 35 per dozen. He sold all the bananas for Php 300. Did he have a gain or loss or how much?

Correct Answer: D) Profit, Php 90.

8. Profit is the excess of average profit over-

Correct Answer: C) Normal profit.

9. If I buy a shirt for $ 25 and sell it for $ 40, do I make a profit or a loss?

Correct Answer: A) Profit.

10. Carlos is a carpenter. He sold a chair for Php 900 making a profit of Php 250. Find the cost price of the chair.

Correct Answer: C) Php 650.