Profit and Loss Practice Questions
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Questions and Answers

What is the condition for a 'profit' in a transaction?

  • Selling at a lower price than the purchase price
  • Selling at the same price as the purchase price
  • Selling at a higher price than the purchase price (correct)
  • Selling at a fluctuating price compared to the purchase price

    • What is the condition for a 'loss' in a transaction?

  • Selling at a lower price than the purchase price (correct)
  • Selling at the same price as the purchase price
  • Selling at a fluctuating price compared to the purchase price
  • Selling at a higher price than the purchase price

    • What is the cost price (C.P.) of 1 ball pen if 90 ball pens are sold for ₹160 and there is a 20% loss?

  • $C.P. = ₹ 24/9$
  • $C.P. = ₹ 20/9$ (correct)
  • $C.P. = ₹ 18/9$
  • $C.P. = ₹ 22/9$

    • If a person wants to make a profit of 20%, how many ball pens should be sold for ₹96 if the cost price (C.P.) of 1 ball pen is ₹20/9?

    <p>$x = 48$</p> Signup and view all the answers

    What is the selling price (S.P.) of 90 ball pens if the cost price (C.P.) of 1 ball pen is ₹20/9 and there is a loss of 20%?

    <p>$S.P. = ₹160$</p> Signup and view all the answers

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