Profit and Loss
1. A trader marks up his goods by 25%. If the cost price of an item is $200, what is the selling price?
a) $225
b) $250
c) $275
d) $300
Answer: b) $250
2. A man sold a watch for $550, which is 10% more than the cost price. What is the cost price of the watch?
a) $500
b) $550
c) $600
d) $650
Answer: a) $500
3. A person bought a smartphone for $800 and sold it for $1000. What is the percentage profit made?
a) 20%
b) 25%
c) 30%
d) 35%
Answer: a) 20%
4. If the cost price of an item is $100 and it is sold at a profit of 20%, what is the selling price?
a) $100
b) $120
c) $140
d) $160
Answer: b) $120
5. If a person sells a bicycle for $400 and incurs a loss of 20%, what is the cost price of the bicycle?
a) $480
b) $400
c) $320
d) $240
Answer: a) $480
6. A person sold a television set for $1200 and incurred a loss of 20%. What is the cost price of the television set?
a) $800
b) $960
c) $1200
d) $1500
Answer: b) $960
7. A trader bought a set of chairs for $1000 and sold it for $1200. What is the percentage profit made?
a) 10%
b) 15%
c) 20%
d) 25%
Answer: c) 20%
8. If the cost price of an item is $80 and it is sold at a loss of 25%, what is the selling price?
a) $60
b) $70
c) $75
d) $80
Answer: a) $60
9. If a person buys a mobile phone for $500 and sells it for $400, what is the percentage loss made?
a) 20%
b) 25%
c) 30%
d) 35%
Answer: b) 25%
10. A trader marks up his goods by 20%. If the cost price of an item is $150, what is the selling price?
a) $150
b) $180
c) $200
d) $220
Answer: b) $180
11. If the cost price of an item is $50 and it is sold at a profit of 10%, what is the selling price?
a) $50
b) $55
c) $60
d) $65
Answer: b) $55
12. If a person sells a bike for $600 and incurs a loss of 25%, what is the cost price of the bike?
a) $800
b) $600
c) $480
d) $450
Answer: d) $450
13. A person sold a fridge for $800 and incurred a loss of 10%. What is the cost price of the fridge?
a) $720
b) $800
c) $880
d) $1000
Answer: c) $880
14. If the cost price of an item is $120 and it is sold at a loss of 15%, what is the selling price?
a) $102
b) $105
c) $110
d) $115
Answer: c) $110
15. If a person buys a laptop for $1000 and sells it for $1200, what is the percentage profit made?
a) 10%
b) 15%
c) 20%
d) 25%
Answer: c) 20%
16. A trader marks up his goods by 30%. If the cost price of an item is $250, what is the selling price?
a) $275
b) $300
c) $325
d) $350
Answer: c) $325
17. If the cost price of an item is $70 and it is sold at a profit of 15%, what is the selling price?
a) $70
b) $80.50
c) $85
d) $90.50
Answer: b) $80.50
18. If a person sells a television for $900 and incurs a loss of 12.5%, what is the cost price of the television?
a) $800
b) $1000
c) $1025
d) $1125
Answer: c) $1025
19. A person bought a laptop for $1200 and sold it for $1000. What is the percentage loss made?
a) 10%
b) 15%
c) 20%
d) 25%
Answer: d) 16.67% (rounded to the nearest hundredth)