Profit and Loss Short Quiz

Q1. If a product is bought for $200 and sold for $250, what is the profit?
A1. Profit = $50.

Q2. If the cost price is $500 and the profit is 20%, what is the selling price?
A2. Selling price = $600.

Q3. If a product is sold at a loss of 10% for $180, what was the cost price?
A3. Cost price = $200.

Q4. If a product is bought for $300 and sold for $270, what is the loss percentage?
A4. Loss = 10%.

Q5. What is the selling price of a product if it is bought for $450 and a profit of 15% is made?
A5. Selling price = $517.50.

Q6. A trader sells an item for $720 with a loss of 10%. What is the cost price?
A6. Cost price = $800.

Q7. If a product costs $350 and is sold for $385, what is the percentage profit?
A7. Profit = 10%.

Q8. A man buys a product for $1000 and sells it for $950. What is the loss percentage?
A8. Loss = 5%.

Q9. What is the profit percentage if the cost price is $500 and the selling price is $600?
A9. Profit = 20%.

Q10. If the selling price of a product is $2000 and the profit is 25%, what is the cost price?
A10. Cost price = $1600.

Q11. A merchant gains 15% by selling an article for $690. Find the cost price.
A11. Cost price = $600.

Q12. A shopkeeper sells an article at a loss of 20%. If the cost price is $500, what is the selling price?
A12. Selling price = $400.

Q13. If the selling price is $320 and the profit percentage is 10%, what is the cost price?
A13. Cost price = $290.91.

Q14. A trader marks up goods by 40% and offers a 10% discount. What is the overall profit or loss percentage?
A14. Profit = 26%.

Q15. A product is sold for $800 with a 20% loss. What was the original cost price?
A15. Cost price = $1000.