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- 1. Multiple ChoiceThe term used to describe money gained after a sale.cost priceselling priceprofitloss
- 2. Multiple Choice
If the cost price of an item is $10 and the selling price is $12, was a profit or a loss made?
profit
loss
neither
- 3. Multiple Choice
Find the loss of an item that cost $190 and sold for $175.
$25
$15
-$15
$30
- 4. Multiple Choice
Find the profit: CP = $120, SP = $180
$80
$20
-$20
$60
- 5. Multiple ChoiceThe term used to describe money gained after a sale.cost priceselling priceprofitloss
- 6. Multiple Choice
If the CP is less than the SP, then there will be a loss.
True
False
- 7. Multiple Choice
What is meaning of loss?
Difference between marked price and selling price
Difference between cost price and marked price
Difference between selling price and cost price
All of the above
- 8. Multiple Choice
What is selling price?
Price at which we buy the things.
Price at which we sell the things.
- 9. Multiple Choice
If Selling price > Cost price, it will be
Profit
Loss
- 10. Multiple Choice
How we calculate profit?
Profit = SP - CP
Profit = CP- SP
- 11. Multiple Choice
How we calculate Loss ?
Loss = SP -CP
Loss = CP -SP
- 12. Multiple Choice
If Selling price > Cost price, it will be
Profit
Loss
- 13. Multiple Choice
What is the amount at which the product is to be sold?
Cost Price
Selling Price
Net Sale
Profit
- 14. Multiple Choice
Jamie builds and sells boxes for worm farms. The materials to build cost $13. She sells the boxes for $20. How much profit will Jamie make?
$7
$27
$13
$20
- 15. Multiple Choice
Jackie is making lemonade. She buys sugar, lemons, and cups for $17. She made $41 from selling the lemonade. What is her profit?
$58
$17
$24
$41
- 16. Multiple Choice
Evan earned $300 by doing yard work. His profit was $250. How much were his expenses?
$550
$300
$250
$50
- 17. Multiple Choice
Tom helped his uncle move. He spent $30 for gas for his truck, and $20 for work gloves. His uncle paid him $200 for his help. What was Tom's profit?
$50
$150
$250
$30
- 18. Multiple Choice
Another name for buying price is:
Selling Price
Cost Price
Profit
- 19. Multiple Choice
If an item is sold for more more than what it was bought for, the seller make a/an:
Loss
Interest
Profit
Tax
- 20. Multiple Choice
Cost price - Selling Price =
Interest
Profit
Loss
GCT
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