|
 Profit, Loss and Discount 40 Flashcards |
Start
|
|
What is the formula to calculate profit? |
Card: 1 / 40 |
|
|
Profit = Selling Price - Cost Price (Profit = S.P. - C.P.) |
Card: 2 / 40 |
|
|
If the selling price of an item is lower than its cost price, this is called ______. |
Card: 3 / 40 |
|
|
Loss |
Card: 4 / 40 |
|
|
True or False: Profit percentage is calculated based on the selling price. |
Card: 5 / 40 |
|
|
False. Profit percentage is calculated based on the cost price. |
Card: 6 / 40 |
|
|
Riddle: I help you understand how much you earn over what you spent, expressed as a part of your initial investment. What am I? |
Card: 7 / 40 |
|
|
Profit percentage |
Card: 8 / 40 |
|
|
What is the selling price if the cost price is ₹500 and the profit percentage is 20%? |
Card: 9 / 40 |
|
|
S.P. = ₹600 |
Card: 10 / 40 |
|
|
Which of the following is a formula for calculating loss? A) Loss = S.P. - C.P. B) Loss = C.P. - S.P. C) Loss = C.P. + S.P. D) Loss = C.P. x S.P. |
Card: 11 / 40 |
|
|
B) Loss = C.P. - S.P. |
Card: 12 / 40 |
|
|
The total cost price includes actual cost price plus ______. |
Card: 13 / 40 |
|
|
Overhead expenses |
Card: 14 / 40 |
|
|
True or False: Overhead expenses are not considered when calculating profit or loss. |
Card: 15 / 40 |
|
|
False. Overhead expenses are included in the calculation of total cost price. |
Card: 16 / 40 |
|
|
Riddle: I am a tax collected at every stage, from production to sale, ensuring that governments can prevail. What am I? |
Card: 17 / 40 |
|
|
Value Added Tax (VAT) |
Card: 18 / 40 |
|
|
If the selling price is ₹1,000 and the tax rate is 5%, what is the total amount paid after tax? |
Card: 19 / 40 |
|
|
Total amount = ₹1,050 |
Card: 20 / 40 |
|
|
 Unlock all Flashcards with EduRev Infinity Plan Starting from @ ₹99 only
|
|
|
|
What is the method to find the selling price when cost price and gain percentage are given? |
Card: 21 / 40 |
|
|
S.P. = [(100 + Gain %) / 100] × C.P. |
Card: 22 / 40 |
|
|
Fill in the blank: The formula for calculating tax is ______. |
Card: 23 / 40 |
|
|
Tax = (Rate of Tax × Sale Price) / 100 |
Card: 24 / 40 |
|
|
True or False: Discount is the amount added to the marked price. |
Card: 25 / 40 |
|
|
False. Discount is the amount subtracted from the marked price. |
Card: 26 / 40 |
|
|
What is the formula to calculate the marked price if the selling price and discount percentage are known? |
Card: 27 / 40 |
|
|
M.P. = [100 / (100 - d)] × S.P. |
Card: 28 / 40 |
|
|
Riddle: I reduce the price of an item to entice buyers, often a percentage off, I’m a salesman's desire. What am I? |
Card: 29 / 40 |
|
|
Discount |
Card: 30 / 40 |
|
|
What is the formula to calculate loss percentage? |
Card: 31 / 40 |
|
|
Loss % = (Loss / C.P.) × 100% |
Card: 32 / 40 |
|
|
If a product is bought for ₹200 and sold for ₹150, what is the loss amount? |
Card: 33 / 40 |
|
|
Loss = ₹50 |
Card: 34 / 40 |
|
|
True or False: VAT is the same at all stages of sale. |
Card: 35 / 40 |
|
|
False. VAT can vary depending on the tax rate applicable at different stages. |
Card: 36 / 40 |
|
|
If the total amount paid is ₹850 and the tax rate is 10%, what is the sale price? |
Card: 37 / 40 |
|
|
Sale Price = ₹772.73 |
Card: 38 / 40 |
|
|
Fill in the blank: The formula for calculating gain amount is ______. |
Card: 39 / 40 |
|
|
Gain = (Gain % × C.P.) / 100 |
Card: 40 / 40 |
|
|
Completed! Keep practicing to master all of them. |
Restart
|
