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CBSE Class 5  >  Class 5 Test  >  Mathematics  >  Test: Profit & Loss - Class 5 MCQ

Profit & Loss - Class 5 Mathematics Free MCQ Test with solutions


MCQ Practice Test & Solutions: Test: Profit & Loss (10 Questions)

You can prepare effectively for Class 5 Mathematics for Class 5 with this dedicated MCQ Practice Test (available with solutions) on the important topic of "Test: Profit & Loss". These 10 questions have been designed by the experts with the latest curriculum of Class 5 2026, to help you master the concept.

Test Highlights:

  • - Format: Multiple Choice Questions (MCQ)
  • - Duration: 15 minutes
  • - Number of Questions: 10

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Test: Profit & Loss - Question 1
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Rohit bought a cycle for ₹4560 and sold it for ₹5130. Did he make a profit or a loss, and how much?

Detailed Solution: Question 1

To determine whether Rohit made a profit or a loss, we subtract the cost price (CP) from the selling price (SP).

  • Profit = SP - CP
  • Profit = ₹5130 - ₹4560
  • Profit = ₹570

Therefore, Rohit made a profit of ₹570.

Test: Profit & Loss - Question 2
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A shopkeeper bought a box of pencils for ₹25.50 and sold it for ₹23.75. Did he make a profit or a loss, and how much?

Detailed Solution: Question 2

  • The shopkeeper bought the box for ₹25.50.
  • He sold it for ₹23.75.
  • Since the selling price is less than the cost price, there’s a loss.
  • Loss = Cost Price - Selling Price = ₹25.50 - ₹23.75 = ₹1.75.
  • Thus, the shopkeeper incurred a loss of ₹1.75.

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Test: Profit & Loss - Question 3
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If the Cost Price (CP) of an item is ₹560 and the Selling Price (SP) is ₹590, what is the profit or loss?

Detailed Solution: Question 3

  • The Cost Price (CP) of the item is ₹560 and the Selling Price (SP) is ₹590.
  • Calculate profit by subtracting CP from SP: Profit = ₹590 - ₹560 = ₹30.
  • Since the result is positive, it means there is a profit of ₹30.
  • Therefore, the answer is Profit of ₹30.

Test: Profit & Loss - Question 4
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If the Cost Price (CP) of an item is ₹2560 and the Selling Price (SP) is ₹2510, what is the profit or loss?

Detailed Solution: Question 4

The calculation of loss can be expressed as follows:

  • Cost Price (CP): ₹2560
  • Selling Price (SP): ₹2510
  • Loss: CP - SP

Substituting the values:

  • Loss = ₹2560 - ₹2510
  • Loss = ₹50

Therefore, the total loss incurred is ₹50.

Test: Profit & Loss - Question 5
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If the Cost Price (CP) of an item is ₹650 and the Selling Price (SP) is ₹710, what is the profit or loss?

Detailed Solution: Question 5

To determine whether there is a profit or loss, we subtract the Cost Price (CP) from the Selling Price (SP).

  • Profit = SP - CP
  • Profit = ₹710 - ₹650
  • Profit = ₹60

Since the result is positive, it indicates a profit. Therefore, the correct answer is a profit of ₹60.

Test: Profit & Loss - Question 6
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If the Cost Price (CP) of an item is ₹1967 and the Selling Price (SP) is ₹2000, what is the profit or loss?

Detailed Solution: Question 6

To determine if there's a profit or loss, follow these steps:

  • Subtract the Cost Price (CP) from the Selling Price (SP).
  • The formula is: Profit = SP - CP
  • Using the given values: SP = ₹2000 and CP = ₹1967
  • Calculate: Profit = ₹2000 - ₹1967 = ₹33

Since the result is positive, it indicates a profit. Therefore, the profit is ₹33.

Test: Profit & Loss - Question 7
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If the Cost Price (CP) of an item is ₹30.45 and the Selling Price (SP) is ₹32, what is the profit or loss?

Detailed Solution: Question 7

The formula for calculating profit is given by:

Profit = SP - CP

Where:

  • SP = Selling Price
  • CP = Cost Price

In this case:

  • SP = ₹32
  • CP = ₹30.45

Now, substituting the values into the formula:

Profit = ₹32 - ₹30.45 = ₹1.55

Therefore, the correct answer is a profit of ₹1.55.

Test: Profit & Loss - Question 8
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If the Cost Price (CP) of an item is ₹90.15 and the Selling Price (SP) is ₹89.25, what is the profit or loss?

Detailed Solution: Question 8

The item was sold at a loss because the Cost Price (₹90.15) is higher than the Selling Price (₹89.25). The amount of loss is calculated as: Loss = CP - SP = ₹90.15 - ₹89.25 = ₹0.90.

Test: Profit & Loss - Question 9
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Mr. Lal bought a refrigerator for ₹32645 and sold it for ₹35000. Did he make a profit or a loss, and how much?

Detailed Solution: Question 9

The calculation to determine if there was a profit or loss is done by subtracting the Cost Price (CP) from the Selling Price (SP).

  • Profit = SP - CP
  • Profit = ₹35,000 - ₹32,645
  • Profit = ₹2,355

Therefore, Mr. Lal made a profit of ₹2,355.

Test: Profit & Loss - Question 10
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Nitu bought a music system for ₹8960 and spent ₹450 on repairs. She sold it at a profit of ₹510. What is the Selling Price (SP)?

Detailed Solution: Question 10

Total CP = ₹8960 + ₹450 = ₹9410
Profit = ₹510
SP = CP + Profit = ₹9410 + ₹510 = ₹9920.

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About this Class 5 Practice Test

This test contains 10 MCQs on Profit & Loss with detailed solutions for each question. It is part of the Mathematics for Class 5 course on EduRev, designed to align with the current Class 5 syllabus. Each solution explains not just the correct answer but also gives you an understanding of the topic — not just to attempt the question but also help you prepare for the exam with practice.

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If you found this Profit & Loss MCQ Test helpful, you can further enhance your Class 5 preparation with in-depth courses on EduRev, for all the subjects and topics available in Mathematics for Class 5 course. The course offers:
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